The Joint Revenue Board (JRB) has reassured Nigerians that ongoing reforms in the country’s tax administration will not disrupt banking or financial activities, as the Federal Government prepares to implement a new tax compliance regime effective January 1, 2026.
In a statement issued by its Corporate Communications Department, the JRB clarified that there will be no immediate restrictions on bank accounts or financial transactions arising from the non-availability of a Tax Identification Number (Tax ID).
The Board further dispelled widespread concerns, stressing that no deductions will be made from any bank account solely on the basis of whether an individual or business has obtained a Tax ID.
According to the JRB, the reform is designed to simplify compliance and eliminate the burden of manual registration. Under the new framework, every taxable individual will be automatically issued a Tax ID using their National Identification Number (NIN), while businesses will receive Tax IDs linked to their Corporate Affairs Commission (CAC) registration numbers.
The reassurance comes amid clarification by the Federal Government that, from January 2026, taxable Nigerians will be required to provide a Tax Identification Number to operate bank accounts, in line with the Nigerian Tax Administration Act (NTAA) signed into law by President Bola Tinubu in June 2025.
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, had explained that the law mandates all taxable persons (defined as individuals or entities earning income through business, trade or economic activity) to register and obtain a tax ID. He, however, noted that students, dependents and non-income earners are exempted from the requirement.
The JRB emphasised that the issuance process will be seamless and technology-driven, assuring the public that adequate measures are already in place to enable easy and efficient retrieval of Tax IDs when required.
“The public should not panic. The reforms are aimed at improving efficiency, transparency and ease of doing business, not to inconvenience Nigerians,” the statement said.
The Board reaffirmed its commitment to sustained public engagement and clear communication as the country transitions into the new tax era, urging Nigerians to rely on official channels for accurate information and updates.
