FG Assures Human-friendly Tax Deductions Implementation, Claims Safe Bank Accounts

The federal government moved to reassure Nigerians and investors that the implementation of the new tax deductions acts will be carried out with fairness, transparency, and what officials describe as a “human face.”

BrandNewsDay Nigeria reports that this assurance was given by the Chairman of the National Tax Policy Implementation Committee (NTPIC), Mr. Joseph Tegbe, shortly after the committee was inaugurated in Abuja on Friday by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.

Tegbe told journalists that the government has no intention of breaching the rights or privacy of citizens in the enforcement of the new laws. “Government is not going to encroach on their personal accounts. Nigerians are not under probe or investigation,” he said.

He reiterated that “this government has no business irresponsibly encroaching on personal bank accounts of citizens or its residents in Nigeria.”

He said concerns about possible disruptions or adverse effects on the economy as the January 1 commencement date approaches were being taken seriously.

According to him, “We would not implement anything that is going to be destructive to the economy. There will be no surprises. Some of those areas of concern will be addressed. The systems that we are building will respect legitimate expectations, reduce uncertainty, and protect the most vulnerable.”

Tegbe explained that the committee was designed to operate through broad consultation and collaboration across key sectors.

“The committee has been set up to ensure broad and meaningful consultation and collaboration. We want to ensure that all stakeholders are aware and have fair buy-in and ownership of whatever they implement,” he said.

He noted that discussions will extend to businesses, subnational governments, civil society organisations, and professional bodies to ensure a shared understanding of the reforms and their implications.

Addressing issues raised by Nigerians over some provisions of the tax laws, Tegbe said the administration was committed to resolving them. “This government is a humane government, and this government will work actively to build stakeholders to ensure that areas that need further clarification and further resolutions are addressed,” he added.

He described the implementation programme as one of the most significant policy undertakings of the Tinubu administration, saying the goal is to strengthen the fiscal system while safeguarding economic stability.

“If well executed—and we intend for that to happen—Nigerians will experience improved revenue mobilization, reduced leakages, and a more stable and competitive economic environment. We will work with everybody to ensure that the partnership with stakeholders happens in implementing these long-term reforms.”

Tegbe also drew attention to the Nigerian Revenue Service (NRS) provisions in the new act, saying several elements were designed to strengthen institutions and benefit citizens. He stressed President Bola Tinubu’s commitment to protecting low-income earners.

“One of the objectives of Mr. President is to ensure that Nigerians who are earning a lower income are exempted from tax as much as possible. And you see that the band of application of tax has been improved. We will not lose that benefit.”

He maintained that implementation will proceed side-by-side with adjustments where necessary. “As you are implementing, you are learning, you are refining. There are clear areas that we have identified. This is a very sensitive government. It’s a responsive government and a responsible government.”

Beyond CGT, Tegbe said other areas—such as the pioneer status provisions under the old Export Development Incentives (EDI) framework—will also be reviewed. “There are some other areas that people are concerned with. Like the area in the past, the whole pioneer status, which is EDI. We would look at it,” he said.

He stated that structures would be deployed to ensure that concerns are carefully managed and that the reforms proceed in a manner that supports economic growth and investor confidence.