Nigeria’s federal government has confirmed that every taxable citizen will be required to obtain a Tax Identification Number (TIN) or Taxpayer Identification Number to operate a bank account beginning 1 January 2026. The measure forms part of sweeping tax reforms under the Nigerian Tax Administration Act (NTAA).
The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, announced the directive in an interview shared on his X account on Thursday. He explained that Section 4 of the NTAA makes tax identification compulsory for taxable individuals, reinforcing a policy framework that had been in place since the Finance Act of 2020.
Oyedele clarified that the mandate applies only to individuals who earn income through trade, business, or any form of economic activity. Students and dependents, he said, are exempt from the requirement and may continue to operate bank accounts without a tax ID.
He stressed that income earners already registered with existing TINs will not be required to obtain new identification numbers. However, he warned that anyone who earns an income but lacks a tax ID “may have difficulty running their bank account in the near future” once the law is fully implemented.
The announcement follows rising public concern that bank accounts without tax IDs may soon face restrictions. Oyedele noted that the NTAA now provides the legal backing needed to enforce compliance, ensuring that banks must request a tax ID from eligible account holders.
The government argues that the policy is critical for improving tax administration, boosting national revenue, and reducing evasion. The reforms are expected to streamline tax compliance and align Nigeria’s financial system with global standards.
President Bola Ahmed Tinubu signed the new tax laws in June 2025, paving the way for their nationwide rollout at the start of 2026. Authorities say the transition period gives Nigerians ample time to update their tax records before enforcement begins.
