“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.
Nigeria’s federal government is set to begin automatically deducting taxes from the bank accounts of individuals with unexplained income starting in 2026. According to Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, the new system will use modern technology to track income and ensure compliance.
The policy will also apply to salaries paid to workers in religious organisations, such as pastors and imams, ensuring the tax law is applied equitably across all sectors.