By Ayo Kehinde
The Federal Government has announced that all taxable Nigerians will be required to provide a Tax Identification Number (TIN) to operate bank accounts from January 1, 2026, in line with the country’s new tax administration framework.
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, confirmed the development, noting that the enforcement is backed by the Nigerian Tax Administration Act (NTAA), signed into law by President Bola Tinubu in June 2025.
According to him, Section 4 of the NTAA makes the possession of a tax ID mandatory for every taxable individual, marking a significant shift in Nigeria’s tax compliance landscape.
Speaking in an interview shared on his X account on Thursday, Oyedele explained that banks will be legally required to request tax IDs from customers who earn income through business, trade, or any economic activity.
However, he clarified that the requirement does not apply to students, dependents, or individuals without income, who will be exempted from obtaining a tax ID to maintain their bank accounts.
“Yes, but with some exemptions. A section of the NTAA requires a taxable person to register and obtain a tax ID. A taxable person is anyone who earns income through trade, business, or any economic activity. So banks must request a tax ID from taxable persons.
“This means that individuals who do not earn an income, such as students and dependents, do not need to obtain a tax ID.
“Any taxable entity without a tax ID may have difficulty running their bank account in the near future,” he stated.
Oyedele added that individuals and businesses already issued TINs will not need to obtain new tax IDs once the law takes effect.
The clarification comes amid rising public anxiety that bank accounts lacking tax IDs could soon face restrictions. The Federal Government is expected to issue further implementation guidelines ahead of the January rollout.
