The Federal Government has announced that all taxable Nigerians must obtain a Tax Identification Number (TIN) to operate bank accounts from January 1, 2026, under new tax reforms.
Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, said Section 4 of the Nigerian Tax Administration Act (NTAA) makes the TIN mandatory for income earners, businesses, and anyone engaged in economic activities. Students and dependents are exempt from the requirement.
Oyedele noted that the policy has existed since the Finance Act of 2020, but the NTAA provides the legal framework for enforcement. He emphasized that individuals or businesses without a TIN may face difficulties operating their accounts. Existing tax IDs remain valid, and income earners with TINs do not need to register anew.
The announcement follows new tax laws signed by President Bola Ahmed Tinubu in June 2025.