(DDM) – The Federal Government has reassured Nigerians that they will not be denied access to their bank accounts if they do not have a Tax Identification Number (TIN) by 2026.
Diaspora Digital Media (DDM) gathered that the clarification came after widespread fears that new tax reforms signed by President Bola Tinubu could restrict financial transactions without a Tax ID.
The confusion followed the enactment of the Tax Administration Act, one of four new tax laws signed into law in recent weeks.
Reports had circulated that the new law would make Tax IDs mandatory for operating bank accounts, sparking public anxiety.
Many Nigerians, especially small business owners and ordinary account holders, worried that they might be cut off from financial services.
But in a statement, the Joint Tax Board (JTB) described the reports as misleading.
The statement was issued by Akpe Adoh, Head of Corporate Communications at the JTB.
It confirmed that Nigerians will still be able to withdraw, deposit, transfer, and carry out other transactions even if they do not have a Tax ID.
According to the JTB, the reforms are not designed to disrupt banking services but to modernize the tax system.
The Board emphasized that no Nigerian will be locked out of the financial system on January 1, 2026.
To make compliance easier, the JTB announced an automated process for generating Tax IDs.
Under the system, individuals will automatically have Tax IDs generated using their National Identification Numbers (NINs).
Similarly, businesses will be issued Tax IDs linked to their Corporate Affairs Commission (CAC) registration numbers.
The system is being developed in partnership with the Federal Inland Revenue Service (FIRS) and state tax authorities.
Officials say the approach will reduce duplication, simplify tax registration, and promote transparency in revenue collection.
For Nigerians, this means that banking activities will continue without disruption beyond 2026.
It also means that the stress of manually applying for Tax IDs will be eliminated.
The Tinubu administration says its broader goal is to build a fair and growth-friendly tax system.
Government officials argue that linking Tax IDs to NINs and CAC records will expand the formal tax net.
They say the reform is also aimed at reducing multiple taxation and supporting small businesses.
By creating a unified system, the administration hopes to encourage voluntary tax compliance.
The JTB reiterated that citizens should not panic over misinformation spreading on social media.
It urged Nigerians to continue using their bank accounts without fear of disruption.
“The message is clear: keep banking, don’t panic, your Tax ID will find you,” the statement concluded.
Analysts believe the reforms could improve government revenue without erecting barriers to financial inclusion.
However, they stress that implementation must be transparent to maintain public trust.
For millions of Nigerians, the assurance means business and daily life will continue normally as 2026 approaches.
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