The Federal Inland Revenue Service has assured Nigerians that they do not need to secure a separate Tax Identification Number before opening or operating a bank account.
This comes after reports claimed that from January 2026, every citizen would have to present a TIN to access banking services — a development that sparked fears of fresh bureaucracy.
Arabinrin Aderonke Atoyebi, Technical Assistant on Broadcast Media to the Executive Chairman of FIRS, Zacch Adedeji, dismissed the claims in a post on her official X handle on Saturday.
“In recent debates about Nigeria’s tax reforms, a widespread misconception has taken root: that citizens without a Tax Identification Number cannot own or operate a bank account,” she wrote.
She explained that the tax system has already been integrated with existing registries, making Nigerians automatically compliant.
“The TIN is not a standalone requirement imposed on citizens. Instead, it’s 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,” Atoyebi stated.
According to her, individuals are covered once they present their National Identification Number. “For individuals, the TIN is automatically linked to their National Identification Number (NIN) issued by the National Identity Management Commission. When an individual provides their NIN, such as during bank account opening or Know Your Customer 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,” she explained.
She added that businesses are not left out. “For businesses, the TIN is tied directly to the RC Number issued by the Corporate Affairs Commission. 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 said.
Highlighting the benefits, Atoyebi noted that the new framework would simplify banking, cut fraud, and boost inclusion. “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 by ensuring every taxpayer is tied to a verifiable registry. Banks and financial institutions can rely on a single, consent-driven source of truth for onboarding, reporting, and compliance,” she explained.
She concluded by stressing that the new tax ID system is meant to ease processes, not complicate them. “The misconception that Nigerians can not own or operate a bank account without a tax ID overlooks the integrated design of the new TIN system. 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.”
