By: Goodluck E.Adubazi, Abuja.
The Presidency has reaffirmed that the January 1, 2026 tax regime remains sacrosanct, according to a statement by Taiwo Ayodele. He said the remaining two tax reform measures will take effect as scheduled.
Ayodele acknowledged concerns raised by the National Assembly regarding discrepancies in the gazetted documents, describing them as noted issues. He added that the appropriate authorities will address the discrepancies at the appropriate time and through the proper channels.
Africa News Nation ‘Fact – Check’ gathered what you need to know about the “Tax Regime”:
𝐅𝐀𝐂𝐓 𝐍𝐎𝐓 𝐅𝐄𝐀𝐑
(Issue #1)
Separating facts from misinformation. A public education series by the Presidential Fiscal Policy & Tax Reforms Committee.
𝐁𝐀𝐍𝐊 𝐀𝐂𝐂𝐎𝐔𝐍𝐓 & 𝐓𝐀𝐗 𝐈𝐃
❌ 𝐓𝐇𝐄 𝐅𝐄𝐀𝐑:
Your bank account will be frozen without a Tax ID, and you will be automatically debited from January 2026.
✅ 𝐓𝐇𝐄 𝐅𝐀𝐂𝐓:
– Tax ID (TIN) is ONLY required for income or business accounts.
– This is for identification and data harmonization, NOT automatic debit or freezing personal accounts.
– This provision is not new; it has existed since January 2020.
𝐁𝐎𝐓𝐓𝐎𝐌 𝐋𝐈𝐍𝐄:
Don’t panic! The Tax ID requirement is for ease of administration, not punishment, and applies primarily to business accounts.
𝐅𝐈𝐍𝐀𝐋 𝐖𝐎𝐑𝐃:
Evidence beats emotion. If they make a claim, ask them: “Where is it in the law?”
