The Federal Government has dismissed widespread claims that bank accounts without a Tax Identification Number (TIN) will be frozen or automatically debited for tax purposes, assuring Nigerians that such reports are false and misleading.

The clarification was issued on Friday by the Presidential Fiscal Policy and Tax Reforms Committee under its public education initiative, “Fact Not Fear.” The committee described assertions that personal bank accounts would be frozen or subjected to automatic deductions from January 2026 as unfounded.

According to the committee, the TIN requirement applies only to income-earning or business-related bank accounts and is intended strictly for identification and data harmonisation, not for automatic debits or punitive measures against individuals.

The committee further explained that the TIN policy is not new, noting that it has been in force since January 2020.

“The Tax ID requirement is for administrative efficiency, not punishment, and it applies primarily to business and income accounts,” the committee stated.

Urging Nigerians to remain calm, the committee advised the public to verify information and rely on existing laws rather than misinformation circulating in the public space.

“Evidence beats emotion. If a claim is made, Nigerians should ask: ‘Where is it in the law?’” the statement added.

The Federal Government reaffirmed its commitment to transparency and public enlightenment as it continues fiscal and tax reforms aimed at strengthening the economy without imposing undue hardship on citizens.