FG will deduct taxes directly from bank accounts of individuals
The chairman of the presidential committee on fiscal policy and tax reforms, Taiwo Oyedele, has announced that the federal government will start deducting taxes directly from the bank accounts of individuals who receive unexplained income in 2026.
Oyedele explained that the government is introducing modern tax systems that will track citizens’ income and automatically deduct the correct taxes from individuals who fall within the taxable bracket but have not been paying taxes or have been underpaying.
He said, “Instead of depending on people to voluntarily declare their income out of patriotism, we want the system to verify it.
“Your primary responsibility is to declare your income, and the government will then use the fiscal system to validate it.
“Once the system checks your records and finds that you have not paid the required taxes, and you cannot justify your income, the government can debit your bank account.
“If your tax liability is ₦1 million, the system will automatically deduct it after giving you due process to explain yourself.
“This allows us to collect taxes professionally without resorting to crude methods.”
Oyedele also clarified that individuals working for religious organisations, including churches and mosques, will be taxed
on their salaries.
However, he emphasised that such workers will be exempt if their earnings fall below the taxable income threshold.
He added that the tax system does not discriminate based on religion, tribe, gender, or belief.
Oyedele
added, “If your income is below the taxable threshold, you are exempt whether you’re a pastor, imam, or someone who doesn’t believe in God.
“Once your earnings cross the threshold, you must pay tax. Tax laws are neutral; they apply equally to everyone.”
He further noted that lower income earners will naturally pay less tax, while higher income earners will pay more under the new system.
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