The Federal Government has announced that all taxable Nigerians must provide a Tax Identification Number (TIN) to operate bank accounts from January 1, 2026, as part of a major push to tighten tax compliance.
The policy was disclosed by Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, in a statement shared on his X account on Thursday.
According to Oyedele, the directive is backed by Section 4 of the Nigerian Tax Administration Act (NTAA), which takes effect in 2026 and legally requires all taxable persons to register for a TIN.
“A taxable person is anyone who earns income from trade, business, or any economic activity. Banks will therefore be required to request a tax ID from such individuals,” he said.
Who is exempt
Oyedele clarified that non-income earners, including students and dependents, are exempt from the requirement and will not need a TIN to operate bank accounts.
What this means
He warned that taxable individuals or businesses operating bank accounts without a valid TIN may face restrictions once enforcement begins. Those who already have a TIN will not be required to re-register.
While the TIN requirement was first introduced under the 2020 Finance Act, Oyedele noted that the NTAA now provides the full legal framework for nationwide enforcement across the banking system from 2026.
The measure is a key part of the government’s broader strategy to expand Nigeria’s tax base and improve revenue collection.
