Tax laws: We've no business with your transfer narrations, FG tells Nigerians
Tax laws: We've no business with your transfer narrations, FG tells Nigerians FG: ‘We’ve No Business With Your Transfer Narrations’ The Federal Government has assured Nigerians that under the newly-enacted tax laws, authorities will not monitor or debit personal bank accounts based on transfer narrations or descriptions you use when sending money. This clarification was given to address public concerns and rumours circulating around the new tax regime starting January 2026. Key points: No government agency will track or make tax deductions simply because of the wording you put in a transfer narration. Nigerians are expected to self-declare their income at the end of the year when filing taxes rather than being taxed automatically via banking data. Some members of the House of Representatives have called for a suspension of implementation to allow for further review and clarification. Under the new regime, individuals earning up to ₦800,000 per year (abo...
