…as Ekiti IRS chair allays fear on deductions from people’s bank accounts
The Joint Revenue Board (JRB) has lauded commends Governor Abiodun Oyebanji and the members of the Ekiti State House of Assembly on the passage of the Ekiti State Harmonised Taxes and Levies (Approved List for Collection) Bill 2025 into Law.
By this feat, Ekiti State has once again demonstrated exemplary leadership in becoming the first State in the Federation to pass the Harmonised Taxes and Levies legislation, well ahead of the 2026 fiscal year when the revised approved list of collections is scheduled to take effect, the Joint Revenue Board, said.
“On behalf of the Chairman and Members of the JRB, we wish to commend the Ekiti State Government for the expeditious and coordinated approach adopted in ensuring the passage of this landmark legislation. The collaborative efforts of the Executive Arm, the Ekiti State House of Assembly, and the Ekiti State Internal Revenue Service are worthy of special recognition”, the Joint Revenue Board noted in a statement signed by Olusegun Adesokan, the Secretary, Joint Revenue Board.
Meanwhile, Olaniran Olatona, Chairman of the Ekiti State Internal Revenue Service (EKIRS), has assured Nigerians that the new Federal Tax Law scheduled to take effect in January was designed to further strengthen the economy and would not result in unauthorised deductions from individual bank accounts or cause undue hardship for the citizens.
Read also: Nigeria spends 105% of revenue on salaries, debt servicing
Speaking at a news conference in his office in Ado Ekiti, the EKIRS Chairman said the tax reform is part of President Bola Tinubu- led Federal Government’s efforts to modernise the tax system, improve revenue generation and promote fairness in tax administration across the country.
Olatona allayed fears among members of the public that the new tax law would lead to arbitrary deductions from personal bank accounts, stressing that the law does not grant tax authorities the power to withdraw funds from individuals’ accounts without due process.
According to him, the tax reform was designed to broaden the tax base, encourage voluntary compliance, reduce multiple taxes, reduce revenue leakages, while also creating an enabling environment for businesses to thrive and contribute meaningfully to economic development.
The EKIRS Chairman also debunked rumours suggesting that Nigerians without Tax Identification Number (TIN) would be penalised or have their account frozen under the new tax reform. He clarified that the reforms are primarily aimed at regularising and issuing TINs to enhance tax administration and ensure better compliance, rather than to target or punish individuals who do not yet have one.
He further clarified that the new tax reform does not mean an increase in taxes for Nigerians, instead, he said it is designed to protect low-income earners, allowing them to grow and develop economically until they reach a level where they become liable to pay taxes, ensuring a fair and progressing taxation.
The Chairman advised Nigerians to use proper and accurate description when making bank transfer, stressing that doing so would help to avert unnecessary taxation or misinterpretation by tax authorities thereby ensuring smooth processing of transactions under the new tax system.
Cautioning the public against unnecessary increment in prices of goods and services due to the new tax reform, Olatona stated that the reform is expected to help reduce the cost of food and essential items, making life easier and more affordable for citizens across the country.
He urged residents of Ekiti State and Nigerians at large to ignore misinformation surrounding the new tax law and seek clarification from credible sources, assuring that EKIRS would continue to sensitise taxpayers on the provisions and benefits of the reform to ensure smooth implementation.
