Nigerians Demand Transparency Over Withheld Signed Tax Laws Under Tinubu Following ₦5 Million Bank Reporting Rule

Mayowa DurosinmiJuly 9, 20252 Mins read656

Weeks after President Bola Tinubu signed four major tax reform bills into law, the Nigerian public is still waiting for the official release of the signed copies. The delay has raised serious questions about transparency and what may be concealed within the legislation.

The bills signed on June 26, the Nigeria Tax Act, Nigeria Tax Administration Act, Nigeria Revenue Service (Establishment) Act, and Joint Revenue Board (Establishment) Act, were presented by the Tinubu administration as transformative reforms aimed at simplifying Nigeria’s tax system while offering relief to low-income earners, small businesses, and hardworking families.

Despite these assurances, the final versions of the laws have yet to be published in the country’s Official Gazette, a key step that grants legal clarity and public access. Only earlier drafts and legislative summaries remain available to Nigerians.

This absence has sparked concern and speculation. Many are questioning what specific provisions are contained in the signed laws that have not been made public, and whether there are significant changes from the versions seen during the legislative process.

Among the concerns raised are whether the government is withholding details about tax increases, new levies, or stricter enforcement mechanisms that could adversely affect taxpayers. One particularly controversial measure involves a new requirement for banks to report accounts with monthly transactions exceeding ₦5 million to the Federal Inland Revenue Service (FIRS), effective from 2026.

Many are also asking whether the delay in publication is an administrative lapse or a deliberate attempt to limit public scrutiny ahead of the laws’ implementation on January 1, 2026. Questions have been raised about the potential impact of undisclosed provisions on the very groups the reforms claim to support, low-income earners and small businesses.

The timely publication of signed bills is a constitutional requirement to ensure transparency and accountability. The failure to publish the laws promptly could constitute a breach of these legal obligations.

As scepticism grows, the public is calling on the Tinubu administration to immediately release the full, signed texts of the tax laws to build trust and provide clarity. Without transparency, uncertainty will continue to overshadow what could have been a milestone in Nigeria’s economic governance.

Nigerians await answers on what the government might be hiding and how these reforms will truly affect the nation’s taxpayers. The demand is clear: