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Tax Laws: Govt Won’t Debit Your Account, Oyedele Assures Nigerians

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The Federal Government has reassured Nigerians that the new tax reforms set to take effect from January 1, 2026, will not involve automatic debits from personal bank accounts, and individuals do not need to provide explanations for transfers.

Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, gave the assurance on Channels Television’s end-of-year special, 2025 In Retrospect: Charting a Pathway to 2026, which focused on politics, security, economy, and tax Policy

Addressing widespread misconceptions surrounding the reforms, Oyedele explained the process, emphasising its simplicity and transparency.

“People think that the government will debit their bank accounts from next year, and how they even came up with that, I have no idea. Nobody will debit your account for any amount you transfer. Whether it’s a billion or one thousand naira, at the end of the year, you tell the government yourself,” he explained.

Oyedele said the new tax system simplifies reporting and ensures fair taxation for small businesses, without burdening the vulnerable.

“You know what constitutes your income and what doesn’t. So you tell the government: ‘This is my income and here is the tax.’ If you are exempted, you simply declare: ‘This is my income, and I am exempted from tax.’ It is a very simple process that we are simplifying further.

“One of the biggest benefits is that if you run a small business as a sole proprietor, an enterprise, or you are just hustling, the system will no longer be regressive, taxing the vulnerable more. We’ve made it progressive,” he said.

Earlier on Tuesday, President Bola Tinubu confirmed that the implementation of the new tax laws will commence as scheduled, despite criticisms from political figures, opposition groups, and labour unions.

In a statement, Tinubu said the laws are not designed to increase taxes but to support a structural reset, promote harmonisation, protect citizens’ dignity, and strengthen the social contract.

“The new tax laws, including those that took effect on June 26, 2025, and the remaining acts scheduled to commence on January 1, 2026, will continue as planned.

“These reforms are a once-in-a-generation opportunity to build a fair, competitive, and robust fiscal foundation for our country,” he said.

The president called on all Nigerians to support the reforms as they take effect in the coming days.

The reforms, signed into law in June 2025, aim to simplify Nigeria’s tax system, broaden the tax base, and protect low-income earners and small businesses.

Key provisions of the tax reforms include full personal income tax exemption for those earning ₦800,000 or less, while higher earners face progressive rates capped at 25 per cent.

Small businesses with turnover under ₦100 million are exempt from company tax, VAT, and the new development levy, and corporate tax for larger firms drops from 30 to 25 per cent.

VAT remains at 7.5 per cent with exemptions for essentials, and revenue collection will be centralised under the Nigeria Revenue Service.

Despite some controversy and court challenges, the government has clarified that ordinary citizens will not face automatic debits or new taxes, and exemptions cover minimum wage earners, pensions, gifts, remittances, and diaspora Nigerians.

The reforms are designed to ease tax burdens, support small businesses, and promote a fairer, more transparent tax system while driving economic growth, it said.

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Morka Must Resign As Party Spokesperson -Rivers APC

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The All Progressives Congress, APC, in Rivers State has asked the National Publicity Secretary of the party to resign from the position immediately.

The party said the call becomes necessary after listening to Morka’s interview on national television and the commentaries he passed against its stand on the legislative overreach and what he described as coup d’etat orchestrated by members of the Rivers State House of Assembly to oust the Governor Siminalayi Fubara and his Deputy, Prof (Mrs) Ngozi Odu.

The party said it was embarrassing that Morka responded to the question posed to him on the status of the Mr Darlington Nwauju, who issued statements on the behalf of the party in Rivers.


Morka had described Nwauju as “…an official of the old exco, saying he doubts if he is still part of the current exco…”

In a statement signed by Nwauju on Tuesday, the APC in Rivers State said it is alarmed at the continuous ridicule, disrespect and disregard for lawful court rulings by Morka which he claims has cast a big question mark on the authenticity of the statements, comments and opinions published by the legally recognized Party Spokesperson in Rivers State.

“We are therefore calling for his disbarment, owing to the fact that Suit No. PHC/3592/CS/2023 (Sam Sam Etetegwung Vs APC) and Suit No 3859/CS/2024 (OkwuJoe Brown Ndke Vs APC), both nullified the purported dissolution of Executives elected in October 16 2021 and voided the kangaroo congress conducted in November 2023 to replace the Executives elected in October 2021, thereby giving Mr Nwauju the audacity to speak for thei party in Rivers,” the statement added.

“Since we are practicing a Constitutional democracy and our Party is built on progressive ideals to defend democratic practice and promote the rule law, Mr Morka has lost the moral high ground to continue to act as a national officer of our great party having been elected to come on national television to promote partisan interpretation to subsisting court rulings over the party leadership question in Rivers APC.

“This misleading narrative is too dangerous to be ignored by any true member of our party praying for the party to mobilize and win elections fair and square in Rivers for Mr President.

“We dare say that Mr Morka should have kept quiet rather than using his interview to launder the image of a non-party member over and above one of the Party’s Governors who doubles as the undisputable leader of our party in Rivers State.

“Again, we are also aware that the National Working Committee, outside of the National Executive Committee (NEC) is the conscience of our party and should not continue to condone persons who are out to promote divisiveness over and above internal party cohesion.

“We are further aware of the provisions of Article 13.4 (xvi), ‘The National Working Committee shall liaise with governments formed by the Party at all levels with a view to ensuring that members of the Party are accorded priority in appointments into public offices, and shall provide periodic reports in this regard to the National Executive Committee’.

“We are therefore at a loss as to why Mr Morka, a national officer of the APC would downplay the serious issue of a self-serving impeachment process against a serving APC Governor. The opinion of Mr Morka, which we very well know is entirely personal and can not pass for the stand of the National Working Committee of the All Progressives congress in Nigeria leaves so much to be desired and calls to question his loyalty to the APC.

“Mr Morka’s poor attitude to the collective wellbeing and interest of our Party leaves both a black eye and sour taste on the lips of party faithfuls across Rivers State and beyond. We are tempted to ask: “Is Morka truly working for the victory of the APC?

“Mr Morka is a trained lawyer who should know better but has willfully chosen to look the other way because the crisis profits him economically.

“We believe it is now time for the NBA and specifically, the Legal Practitioners Privileges Council to investigate and review the deliberate, scandalous conduct of Mr Morka whose comments and behaviour on national television are calculated to detract from the dignity of the court and cause irreparable reputational damage to the legal profession in Nigeria.

“We reiterate this fact and let it be known to all including the National Working Committee of our great party that action(s) taken by persons who were purportedly “elected” into the leadership of the APC in Rivers State through kangaroo congresses conducted under Alhaji Umar Ganduje in November 2023, are a direct affront on the courts as their activities are built on a faulty foundation and cannot survive the test of legal fireworks!

“Our National Chairman, Prof Nentawe Yilwada and Secretary, Senator Ajibola Bashiru must not allow what happened to Rivers APC in 2019, to repeat itself.”

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Timi Frank Knocks GCON For Chagoury, Warns Of ‘state-sanctioned Impunity’

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Timi Frank, former Deputy National Publicity Secretary of the All Progressives Congress (APC), has described the conferment of the Grand Commander of the Order of the Niger (GCON) on businessman, Gilbert Chagoury as a dark moment for Nigeria.

In a statement on Tuesday, Frank told President Bola Ahmed Tinubu that the decision sends a dangerous signal that corruption and conflicts of interest are being normalized at the highest levels of power.

This comes as Nigerian billionaire businessman Femi Otedola posted a congratulatory message to Chagoury.


Reacting, Frank said the honour— Nigeria’s second-highest national award—undermines public trust and the country’s anti-corruption posture, given widely reported allegations and judicial findings linking Chagoury to money-laundering cases arising from funds looted during the late General Sani Abacha junta.

“Today ranks among the saddest days of my life as a Nigerian,” Frank said, recalling reports that a Swiss court convicted Chagoury in 2000 in connection with laundering Abacha loot, after which he allegedly paid a fine of one million Swiss francs and returned about $66 million to the Nigerian government.

“To bestow one of our highest national honors on a person publicly tainted by allegations and judicial findings of corruption sends a deeply troubling message about our national values,” he added.

“Nigeria should not become a theater where corruption is rewarded, conflicts of interest are ignored, and foreign influence is leveraged against national and allied economic interests,” he warned, adding that the controversy has international governance implications.

He questioned the criteria used to confer the GCON on Chagoury, asking Nigerians to demand clarity on his contributions to national development.

“What hospitals, schools, or scholarships has he built or funded to merit this honor?” Frank asked.

“Beyond his name being linked for years to alleged corruption cases without clear conclusions, Nigerians deserve to know what qualifies him for this award and who among our business leaders has been similarly honored,” he stated.

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Ex-Minister Diezani Alison-Madueke Appears In London Court For ‘£100,000 Bribery’ Trial

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Former Minister of Petroleum Resources, Diezani Alison-Madueke, has appeared before the Southwark Crown Court in London, United Kingdom, for the preliminary hearing of her trial premised on bribery charges.

Alison-Madueke, who was in office from 2010 to 2015, was the first woman oil minister in Nigeria and the first female president of the global oil cartel Organisation of Petroleum Exporting Countries (OPEC).

The case was listed on the cause list for Court 8 before Justice Thornton on Monday.

Alison-Madueke was in court for the preliminary hearing ahead of her full trial, scheduled to commence on January 26, 2026.

Preliminary proceedings, including technical matters and jury selection, began this week, with Alison-Madueke in attendance.

The 65-year-old has been on bail since she was first arrested in London in October 2015. She has denied six charges against her.

She was formally charged in 2023 by the UK’s National Crime Agency with offences of accepting bribes between 2011 to 2015.

“We suspect Diezani Alison-Madueke abused her power in Nigeria and accepted financial rewards for awarding multi-million-pound contracts,” the NCA said at the time.

According to the indictment, Alison-Madueke benefitted from at least £100,000 ($134,000) in cash, chauffeur-driven cars, flights on private jets, and the use of multiple London properties.

The charges also detailed financial rewards including furniture, renovation work, and staff for the properties, payment of private school fees, and gifts from top designer shops such as Louis Vuitton.

The trial is scheduled to begin on Monday, January 26, and is expected to last 10 to 12 weeks.

Two others are also being prosecuted on bribery charges linked to the case: Doye Agama, who appeared in court via video link on Monday, and Olatimbo Ayinde, who was present in the dock.

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