Ahead of the commencement of the new tax reforms by next month, January 2026, the Chairman of the newly inaugurated National Tax Policy Implementation Committee, NTPIC, Mr. Joseph Tegbe, has allayed the fears of some Nigerians about the tax reforms promising that personal bank accounts will not be tampered with.
Tegbe, who spoke in Abuja over the weekend, shortly after the commissioning of the committee, assured Nigerians that the new tax regime will be carried out in a humane and transparent manner, adding that the government does not intend to meddle with the personal bank accounts of citizens.
“The government has no business irresponsibly encroaching in the personal bank accounts of citizens or residents in Nigeria ,” stressing that Nigerians are not under probe or investigations.
Tegbe said that his team would consult widely with various segments of the society, including business groups and professional bodies in the implementation of the laws, especially, according to him, in the areas of ease of doing business, as well as level of federal and state interpretation of the laws.
He assured that the implementation would not harm any business and that his committee would ensure that businesses were incentivised to blossom under the new tax administration, as well as, attract more local and foreign investors.
“We want to reassure Nigerians and investors that implementation of this act will be fair, will be transparent, and we will do it with human face.
“There have been concerns, and I will touch on that.
“There will be no surprises. Some of those areas of concerns will be addressed. The systems that we are building will respect legitimate expectations, reduce uncertainty, and protect the most vulnerable.
“The committee inaugurated today has been set up to ensure broad and meaningful consultation and collaboration. We do believe it is extremely important. We want to ensure that all stakeholders are aware and have fair buy-in and ownership of whatever we implement.
“So we will meet widely, both businesses, subnational governments, civil societies, and also professional bodies,” he said, while promising to address areas of concern such as the Capital Gains Tax.
The Committee was inaugurated by the Minister of Finance and the Co-ordinating Minister of the Economy. Mr. Wale Edun.