The Federal Inland Revenue Service (FIRS) has dismissed circulating reports that Nigerians must obtain a separate Tax Identification Number (TIN) to open or operate bank accounts.
Arabinrin Aderonke Atoyebi, Technical Assistant on Broadcast Media to FIRS Chairman Zacch Adedeji, said the tax system has been restructured so that existing identifiers like the National Identification Number (NIN) for individuals and the Corporate Affairs Commission (CAC) registration (RC) for businesses automatically link to TINs. She emphasized that this eliminates the need for citizens or entities to acquire a TIN separately when opening bank accounts.
Atoyebi further clarified that the TIN is a 13-digit unique identifier embedded into Nigeria’s tax framework and is retrieved during KYC (Know Your Customer) checks once an individual or business supplies their NIN or RC number. She stressed that there is no fresh or separate burden on ordinary Nigerians who are not defined as “taxable persons.” Financial institutions will still ask for relevant identification, but the system now ensures TINs are linked behind the scenes.
The clarification aims to calm public fears ahead of January 1, 2026, when full enforcement of the Nigeria Tax Administration Act (NTAA) is expected. Under the Act, failure by taxable persons to register for a TIN may lead to restrictions on operating certain financial or investment accounts. However, for non-taxable Nigerians, this change should impose no new barrier.
