𝐆𝐨𝐯𝐭 𝐫𝐮𝐥𝐞𝐬 𝐨𝐮𝐭 𝐢𝐧𝐭𝐫𝐮𝐬𝐢𝐨𝐧 𝐢𝐧𝐭𝐨 𝐛𝐚𝐧𝐤 𝐚𝐜𝐜𝐨𝐮𝐧𝐭𝐬 𝐢𝐧 𝐧𝐞𝐰 𝐭𝐚𝐱 𝐫𝐞𝐟𝐨𝐫𝐦𝐬

The Federal Government has assured Nigerians and investors that its new tax reforms will be implemented fairly, transparently, and without touching personal bank accounts. Officials say there will be no probes or intrusive access to citizens’ finances.

The Chairman of the National Tax Policy Implementation Committee, Joseph Tegbe, gave the assurance after his committee was inaugurated by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in Abuja.

Tegbe stressed that fears of account monitoring were misplaced, adding that the government had no intention of “irresponsibly encroaching” on private bank accounts. He said the reforms were designed to support economic stability, strengthen revenue, and protect vulnerable Nigerians.

He maintained that while January 1 remains the official start date, nothing harmful to the economy would be introduced. According to him, systems are being built to reduce uncertainty, protect investors, and ensure that the most vulnerable are not negatively affected.

Tegbe added that the committee would engage widely with stakeholders, including businesses, state governments, civil society groups, and professional bodies, to ensure broad understanding and acceptance of the reforms.

He acknowledged concerns about some provisions, especially capital gains tax, which recently contributed to volatility in the stock market before the Finance Minister intervened. Tegbe hinted that some parts of the law may be reviewed before implementation, with certain areas possibly retaining their current status.