Nigeria’s Federal Inland Revenue Service (FIRS) on Sunday dismissed reports that citizens will be required to obtain a standalone Tax Identification Number (TIN) to open or maintain bank accounts from 2026.
The tax agency said the new framework is integrated with existing national identity registries, including the National Identification Number (NIN) and Corporate Affairs Commission (CAC) records, meaning individuals and businesses do not need to apply separately for a TIN.
“In recent debates about Nigeria’s tax reforms, a widespread misconception has taken root: that citizens without a Tax Identification Number cannot own or operate a bank account,” Arabinrin Aderonke Atoyebi, Technical Assistant on Broadcast Media to FIRS Chairman Zacch Adedeji, wrote on social media platform X.
She explained that the TIN, a 13-digit identifier, is automatically linked to the NIN for individuals and CAC registration numbers for businesses. Banks, she added, retrieve the TIN during account opening or Know Your Customer (KYC) processes.
“This means citizens do not need to manually apply for or present a tax ID before opening a bank account. The system handles the integration in real time,” she said.
Atoyebi said the framework reduces fraud, simplifies regulatory compliance for financial institutions, and ensures inclusivity by covering individuals, companies, and associations.
The clarification follows media reports suggesting Nigerians would face new bureaucratic hurdles to access banking services under the Nigeria Tax Administration Act, set to take effect in January 2026.