The Chairman of Nigeria's Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has publicly refuted alarming rumours circulating online about a supposed mass freezing of bank accounts.
Official Denial of False Claims
In a clear statement made on Monday, December 23, 2025, via his official X (formerly Twitter) account, Oyedele categorically denied reports that bank accounts not linked to a Tax Identification Number (TIN) would be frozen or automatically debited starting from January 1, 2026. He described the widespread reports as completely false and deliberately misleading.
Addressing the public directly, Oyedele wrote, "Don’t let anyone manipulate you. Your bank account is safe. Misinformation makes you panic and fear a reform that is designed to help you." He urged Nigerians to demand evidence, adding, "When they tell you that your account will be frozen or automatically debited from January 2026, ask them for the evidence in the new law. Be wise."
Combating Widespread Misinformation
Oyedele stressed that these rumours are part of a larger pattern of misinformation surrounding the federal government's recent financial and tax reforms. He provided a crucial clarification, stating emphatically that no provision in the new laws authorises the freezing of bank accounts on such grounds.
The committee chairman's swift intervention aims to calm public anxiety and prevent unnecessary panic. His message underscores the importance of relying on official channels for accurate information regarding significant policy changes.
Implications for the Public
This official denial serves as a critical reminder for citizens to verify sensational news, especially concerning their finances. While the government continues to encourage the use of the Tax Identification Number for formalising the economy, the punitive measures being circulated are fabricated.
The Presidential Committee on Fiscal Policy and Tax Reforms, led by Oyedele, remains focused on designing systems to improve revenue collection and ease the tax burden, not on measures that would unlawfully restrict access to personal funds.
