by George Ozalla
The Federal Government has confirmed that a Tax Identification Number will become a compulsory requirement for taxable Nigerians to operate bank accounts from January 1, 2026, in line with the Nigeria Tax Administration Act signed into law earlier this year.
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, explained that the law reinforces an existing obligation that had been part of Nigeria’s tax framework but lacked full legal clarity. Individuals and businesses earning taxable income through trade, employment, or economic activity must provide a Tax Identification Number before operating or maintaining a bank account.
He clarified that persons without taxable income, including students and dependents, will not be affected and can continue to operate their accounts normally. Those who already possess TINs do not need to register again.
The announcement has generated concerns among some Nigerians who fear possible account restrictions once the policy takes effect. Government officials emphasized that the measure targets only taxable persons.
The implementation of the Tax Administration Act is part of broader fiscal reforms aimed at streamlining tax processes and strengthening compliance nationwide.
