The Federal Inland Revenue Service (FIRS) has dismissed claims that Nigerians must obtain a separate Tax Identification Number (TIN) before they can own or operate bank accounts.
The clarification comes after media reports suggested that from January 2026, every Nigerian would be required to present a TIN to open or maintain a bank account — a development that sparked fears of fresh bureaucratic hurdles.
Responding to the controversy, Arabinrin Aderonke Atoyebi, Technical Assistant on Broadcast Media to the Executive Chairman of FIRS, Zacch Adedeji, described the reports as misleading.
In a post on her official X handle on Saturday, Atoyebi explained that the new framework under the Nigeria Tax Administration Act (2025) is designed to integrate seamlessly with existing national registries such as the National Identification Number (NIN) and Corporate Affairs Commission (CAC) records.
“In recent debates about Nigeria’s tax reforms, a widespread misconception has taken root: that citizens without a Tax Identification Number (TIN) cannot own or operate a bank account. This view is inaccurate. Nigeria’s tax system has evolved to integrate seamlessly with national registries, ensuring every eligible individual or entity is automatically identifiable for tax purposes,” she wrote.
Atoyebi explained that the TIN is a 13-digit identifier designed to uniquely capture details of taxable persons and entities across the country.
“What is a Tax ID? The Tax Identification Number (TIN) is a 13-digit unique identifier for all taxable persons and entities in Nigeria. It encodes details such as issuance year, registry source (NIN for individuals, RC for corporates), state of registration, and a cryptographic fragment for security, ending with a check digit.
“The TIN is not a standalone requirement imposed on citizens. Instead, it is a statutory tool that ensures every taxpayer, whether an individual, a registered business, or an association, can be uniquely verified within the national tax system,” she said.
On the integration with existing identity systems, Atoyebi stressed that citizens are automatically tax-compliant once they provide their NIN.
“For individuals, the TIN is automatically linked to their National Identification Number (NIN). When an individual provides their NIN — such as during bank account opening or Know Your Customer (KYC) processes — the system cross-checks the NIN in the national database. As part of this verification, the TIN is automatically retrieved and attached to the person’s records.
“This means citizens do not need to manually apply for or present a tax ID before opening a bank account. The system handles the integration in real time,” she added.
Similarly, businesses are covered through their CAC registration numbers.
“For businesses, the TIN is tied directly to the RC Number issued by the Corporate Affairs Commission (CAC). Likewise, for cooperatives, partnerships, professional bodies, and other legal entities, the TIN is connected to their respective recognised registries. This linkage ensures that corporate entities can be transparently identified for both tax and compliance purposes,” she explained.
Atoyebi also highlighted the benefits of the framework, which she said promotes inclusivity, financial access, and fraud prevention.
“Individuals and businesses can open and operate bank accounts using their NIN or RC number, with the TIN automatically integrated behind the scenes. The system eliminates duplicate or false identities, ensures regulatory compliance, and strengthens Nigeria’s compatibility with global financial systems,” she said.
According to her, the belief that Nigerians would be barred from banking services without a separate TIN is misplaced.
“In practice, this means a Nigerian walking into a bank with their NIN is already tax-compliant. The bank simply retrieves their TIN as part of its onboarding process. Far from being a hurdle, the TIN framework is a gateway to financial inclusion, regulatory transparency, and global interoperability in Nigeria’s evolving digital economy,” she concluded.
