Make we gist about wetin dey happen as Nigeria prepare for new tax law wey go start for January 2026. No be small matter o! The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, don clear air about all dis wahala wey people dey talk.

According to Oyedele, no be so so wahala we go dey see, cos no government body fit just waka come dey pull money from your bank account anyhow. E no go happen! Na so the man talk am for one media engagement wey him dey do with obonge journalists.

Him still yan say, even if you get N1 billion for your account, nobody go fit komot your money without following normal procedure first. E mean say, if you no owe tax wahala, you go dey safe. So, no need to dey fear dey go carry face for ground. The law dey require proper notification and all dis correct judicial review before dem fit do any enforcement.

But make we reason am well: oyinbo dey talk say ‘no knowledge is wasted’. Dat one dey show say, people need to sabi wetin dey happen for tax world, no be only to dey hustle alone. The law even raise reporting limit for banks from N10 million to N25 million. Dis one mean say, almost 98% of bank account holders go no dey worry about tax drama.

But some people still dey shakey because dem no dey trust government well-well. Oyedele assure everyone say, all dis gisting wey social media dey carry no be wetin true dey ground. I no fit lie, dis one don cause some panic for banking system, wey dem dey call ‘widespread withdrawal fear’.

Before any deduction fit happen, igbo kwik, bank must first run through legal process finish. We wan hear am again: nobody fit just wake up one morning dey collect wetin you no agree to pay. Dis new tax law dey try to make sure say everything go dey fair for we normal people, no go dey extra load on us.

Wetin dey vex Ogbeni Taiwo pass be say, some people dey spread wrong info about the reforms wey go dey bring more wahala than good. He talk say, if you earn below N100,000 monthly, you no go dey pay tax at all. Dem dey focus on high-income earners wey get plenty money.

And as the law dey come, if oyinbo or government fit say your income dey above average or your bank dey record plenty transactions, dem fit come check you. So, e go better make you dey write why money dey enter your account for that transfer thing wey dem dey call narration. If you no fit explain wetin dey happen for your bank account, dem go fit call am taxable income. Na wetin we no wan happen to us!

As people dey gather that time, the fear of missing out dey push go higher. Many people dey try find better way to re-arrange their money movement before January, make sure say dem no go encounter tax wahala. E get plenty talks inside social media about how to improve narration and no let bank transaction ton trouble your life.

Honestly, if you fit dey document transfers well, e go save you plenty trouble. Make you dey write ‘Family support’ or ‘Client payment’ for any incoming cash, so that government no go classify am wrong. Straightforward narrative fit protect you from unnecessary wahala wey fit come from tax people.

Oyedele no wan hear say dem go freeze people account or snatch money if they no deserve am. Dis information dey come as serious reminder make we all open our eyes. Our transactions don turn serious matter now, nor be say na just alert again. E don turn financial record.

So my people, make we increase our financial intelligence. E dey normal for government to dey find money for tax, dem dey perform magic with numbers, we go find way make am easy. Keep dem records, put clear description for narrations, and we dey sail smoothly with dis new financial world wey dey come.