By Danjuma Amodu | February 16, 2026
The Presidency has rubbished claims by former Minister of Transportation, Rotimi Amaechi, that the new Tax Act allows for a 25% automatic deduction from private bank accounts. Special Adviser to the President on Information and Strategy, Bayo Onanuga, described Amaechi’s statement as “egregious lies” and accused him of misleading Nigerians.
Amaechi had alleged that the Tax Act contains a provision that would deduct N25 million from any N100 million payment made into a person’s account, citing business transactions, including building materials, as examples. However, the Presidency clarified that the Nigeria Tax Act 2025 sets progressive rates, not a levy on transactions, and low-income earners making N800,000 or less annually would pay no tax.
The government emphasized that the 25% top rate applies only to ultra-high incomes on taxable earnings after statutory reliefs, not on transactions. Amaechi’s claim has sparked controversy, with some accusing him of spreading misinformation ahead of the 2027 general election.
The Presidency’s response suggests that Amaechi’s statement may be a campaign strategy ahead of the 2027 polls, as he is now a key figure in the opposition African Democratic Congress (ADC). The controversy has sparked concerns about the spread of misinformation and the potential impact on public perception of the government’s policies.
As the debate continues, Nigerians are advised to verify information through official channels before accepting claims made by politicians or other stakeholders. The Tax Act 2025 is aimed at promoting fiscal sustainability and improving revenue mobilization, but its implementation must be transparent and communicated effectively to avoid confusion and mistrust.
The case highlights the need for fact-checking and responsible communication, particularly in the lead-up to elections.
