Nigerian Government Denies Plans to Access Bank Accounts in Tax Reform Scheme

The Nigerian government has come out clearly denying any plans to access people’s bank accounts as part of the new government tax reform scheme. This means there’s no need to worry about officials digging into your personal finances under these new tax laws.

Mr. Joseph Tegbe, the Chairman of the National Tax Policy Implementation Committee, spoke after the committee was set up by the Minister of Finance, Mr. Wale Edun, in Abuja last Friday. He made it very clear that these fears about the government prying into personal accounts are simply not true. He said the government doesn’t intend to invade anyone’s bank accounts or put ordinary Nigerians under investigation.

The focus of the government tax reform scheme is actually on supporting the economy, improving revenue collection, and protecting vulnerable people. January 1 is still the planned date for rolling out the reforms, but the government promises nothing harmful to the economy will happen. There won’t be any surprise moves, and the systems being put in place will respect people’s expectations, reduce confusion, and look out for those who need help the most.

government denies plans to access bank accounts in tax reform

The committee is all about talking to everyone involved so that the reforms don’t come as a shock. They want to bring together businesses, local governments, civil society groups, and professionals to make sure everyone has a say and feels part of the process.

Mr. Tegbe also acknowledged that some parts of the tax reform, especially the capital gains tax, caused some worries and even some market instability until the Finance Minister stepped in. He suggested that certain parts of the law might get reviewed before they come into effect. So, even though the implementation officially starts January 1, there might be a few tweaks to avoid problems or keep things the same where necessary.

It’s important to know these tax reforms aren’t just about raising money through taxes. The government also wants to encourage investment by offering incentives. So while some taxes may come in, there will also be benefits and breaks designed to make it easier and more attractive for both foreign and local investors.

Another reassuring point is that low-income earners won’t be forgotten. The government wants to keep their tax exemptions and widened tax bands intact to avoid hurting those earning less. So, the progress made in easing tax burdens for low earners won’t be rolled back.

Mr. Tegbe emphasized that the tax reform rollout will be done with care and responsibility. If everything goes as planned, Nigerians should see better tax revenue, less waste, and a stronger, more competitive economy. The government promises to keep learning, adjusting, and working closely with everyone to make sure the reforms truly work for the country.

He also mentioned that some sensitive parts, like pioneer status, will get careful attention to make sure the reforms are fair and reasonable. The government wants to be seen as responsive and responsible throughout this process.

This National Tax Policy Implementation Committee was officially launched on November 28, 2025, after President Bola Tinubu gave the green light. With Joseph Tegbe leading, the committee’s job is to make sure the new tax laws get rolled out smoothly and in a coordinated way all over Nigeria.

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