Economy

FG To Automatically Deduct Taxes From Bank Accounts Of Nigerians With Unexplained Income: Oyedele

Published

6 days ago

November 24, 2025

admin

FG To Automatically Deduct Taxes From Bank Accounts Of Nigerians With Unexplained Income: Oyedele

FG to automatically deduct taxes from bank accounts of Nigerians with unexplained income: Oyedele. “If you’re a low-income earner, your tax will be lower, and if you’re a high-income earner, your tax will go up,” Mr Oyedele said.

The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, says that from 2026, Nigeria’s federal government will commence the deduction of taxes from the bank accounts of Nigerians with unexplained income.

Mr Oyedele, who spoke in an interview with Seun Okinbaloye’s Mic On Podcast, said the Nigerian government would emplace modern taxation systems to monitor citizens’ incomes , and ensure deductions of commensurate taxes from the bank accounts of those whose incomes fall within the tax bracket but aren’t paying taxes or are paying below the amounts they ought to.

“Instead of relying on people to be patriotic and tell us their income, we want to use the system to find out. Your primary role is to declare your income yourself, then the government, on the other hand, will do a fiscal system valuation,” Mr Oyedele said.
“By the time the system validates what you’re doing, we’ll be able to know that you have not paid tax. If you cannot explain yourself, and your tax is N1 million, under this new tax system next year, if you have a bank account, we can debit your bank account.

“Once you’ve been given due process to explain yourself and you refuse, the government can substitute what you have to collect the taxes you owe. Which means we can do things professionally, we can be decent, we don’t need to go on the streets with wood and nails and start beating people up to collect taxes. There are very decent ways of doing that in modern society, and Nigeria should not be the exception,” he explained.

Mr Oyedele also clarified that the federal government would collect taxes from individuals who get paid for working for religious organisations, including churches and mosques.
When asked if the salaries of imams and pastors are liable for taxation, he responded, saying, “It’s an income. So what the law says is that the church and the mosque would not pay taxes unless they start doing business as an institution or organisation.”

He added, “Anybody they pay, whether it’s a pastor, whether it’s a choir, because these people are just working, they’re working in God’s vineyard, it just happened they are working in the church, but they are workers.
“The person who is selling food, you don’t think he or she is doing the work, the farmers who go to the farm so we can eat? They do what everybody pays.”

Tax

However, he added that such Nigerians working in religious organisations will be exempted from taxation if their income is below the taxable threshold, adding that the new tax law is blind to gender, race, religion or ethnicity.

He said, “If what you’re getting is below the threshold for taxation, you are exempted—whether an imam or pastor, or don’t believe in God. The moment we exceed that point as an individual, you pay tax. We can start creating a society where some religions are superior to others. I may just decide that I don’t believe in God, and I’m Yoruba and I believe in babalawo, I dont want to pay tax. Tax law is neutral, whether you’re a man or a woman.

“If you’re a low-income earner, your tax will be lower, and if you’re a high-income earner, your tax will go up,” Mr Oyedele said.

Related Topics:economy Nigerian security tax

Up Next

Standard Chartered Confirms Compliance With CBN’s N200bn Minimum Capital Requirement

Don't Miss

Igbos Should Stop Being Emotional Over Nnamdi Kanu’s Conviction, Says Orji Kalu

Click to comment

Economy

ADC Is Nigeria’s Only Reliable Political Party, Others Brought Insecurity, Hunger, Says Atiku

Published

1 day ago

November 29, 2025

admin

Terrorists Alternative Government Under Tinubu

ADC Is Nigeria’s Only Reliable Political Party, Others Brought Insecurity, Hunger, Says Atiku

ADC is Nigeria’s only reliable political party, others brought insecurity, hunger, says Atiku. Former Vice-President Atiku Abubukar says the African Democratic Congress (ADC) is the only reliable political party in the country, noting that others have brought insecurity, hunger, poverty and unemployment.
Speaking in Jalingo, the capital of Taraba state, during the official opening of the ADC state secretariat, Abubakar said the party is ready for a 2027 victory but urged Nigerians to unite to rescue the nation.

He also asked Taraba residents to take part in the ongoing continuous voter registration exercise, adding that their participation is crucial to reversing Nigeria’s worsening hardship.
“I am in Taraba to inaugurate our new party office of the ADC, and I want you to hold the party with integrity,” Channels Television quoted Atiku as saying.

“Do not allow anybody to deceive you with any other party, because we have tasted other political parties, and they brought nothing but insecurity, hunger, poverty and unemployment. “The youths and women should know that we are doing this for them to have a better future, and I am holding on to their promise. “ADC will win Taraba state and win Nigeria as the only reliable political party.”

ADC Is Nigeria’s Only Reliable Political Party

Abubakar, who formally joined the ADC on Monday—17 months before the 2027 general election—said his experience across political platforms convinced him that the All Progressives Congress (APC), the Peoples Democratic Party (PDP) and other parties lack the capacity to rescue the country.

He resigned from the PDP on July 16, citing “irreconcilable differences” within the opposition party as his reason for leaving.

Akwa Ibom

Akwa Ibom Governor Pledges Commitment To Tourism, Blue Economy Development

Published

1 day ago

November 29, 2025

admin

Akwa Ibom Governor Pledges Commitment To Tourism, Blue Economy Development

Akwa Ibom governor pledges commitment to tourism, blue economy development… commends Editi Effiong for projecting State’s tourism potentials

As part of his effort to encourage tourism and enhance the State’s blue economy, Akwa Ibom State Governor, Pastor Umo Eno, has reiterated his administration’s commitment to encourage and reward young professionals who are willing to collaborate with his administration in promoting the positive image of the State through the ARISE Agenda.

The Governor made this known while fielding questions from Government House correspondents shortly after embarking on inspection of a locale of a movie, “The Black Book 2” (Old Scores), at Ishiet Beach/Market in Uruan Local Government Area.

He commended the movie Producer and Director, Mr. Editi Effiong, for his talent, vision, inspiration, and creative ability to project the tourism potentials and boost the economy of the State.

Governor Eno charged young Akwa Ibomites to shun divisive tendencies, be inspired, and emulate the creative effort of successful Akwa Ibom sons and daughters by joining hands to develop the tourism and blue economy of the State.

“The impression is amazing, seeing that we have one of our own trying to pull the world down here.

“I would love to thank and encourage him, and to let our young people see that Akwa Ibom has what it takes to drag the world’s attention.

“It depends on what you see. Someone can see this place and write one story about a swamp that has been abandoned and make all the noise. Another person sees this place and makes a great movie out of it that will market this place to the world and is able to attract the attention because of the work he has done here,” he said.

The State Chief Executive pledged his encouragement, support, and collaboration with Editi and other young Akwa Ibomites to enable them rise to the zenith of their calling.

“We are going to work with him. Editi is a young man I have known very well. This is one thing I say to our people in the diaspora, let’s partner. Come back home, whatever you see out there, bring it back here, and let’s work together.

“I think that is the story, and I am really impressed. If you know the number of people that have visited this State in the course of this film, the talents, and the caliber of artists that have been here, then this young man deserves an award and our support,” he added.

Ibom Deep SeaPort

On his part, the movie Producer and Director, Effiong, appreciated Governor Eno for his visionary leadership and passion for tourism development.

He expressed gratitude to the Governor for creating a hospitable and tourism friendly ecosystem to enhance talent exploration through the provision of good road network and quality modern facilities which distinguished the State as one of the most treasured locations in the country.

Crime

EFCC Releases Ex-AGF Malami After Hours Of Interrogation

Published

1 day ago

November 29, 2025

admin

EFCC Releases Ex-AGF Malami After Hours Of Interrogation

EFCC releases ex-AGF Malami after hours of interrogation. He said he would return for further questioning.

The Economic and Financial Crimes Commission (EFCC) has released the former attorney general of the federation and minister of justice, Abubakar Malami, after hours of interrogation by the anti-graft team.

Mr Malami confirmed his release in his X account on Saturday. The former minister said that he had been released and scheduled for another meeting with investigators.
He said that the reality behind the “fabricated allegations” levelled against him would become clearer with time.

“In line with my undertaking to keep Nigerians updated on my invitation by EFCC, I give glory to Allah for his divine intervention. “The engagement was successful and I am eventually released while on an appointment for further engagement as the truth relating to the fabricated allegations against me continues to unfold.”