The Federal Inland Revenue Service (FIRS) has made it clear that Nigerians do not require to get a separate Tax Identification Number (TIN) before opening or keeping their bank accounts.Â
The explanation follows numerous claims indicating that residents would be forced to furnish a TIN to get access to banking services starting in January 2026. Public worry about potential bureaucratic obstacles to financial inclusion had been sparked by the reports.
Replying to the uproar, the Technical Assistant on Broadcast Media to the FIRS Chairman, Aderonke Atoyebi, termed the reports as deceptive. In a post she shared on her official X handle, she said the TIN framework has been designed to coexist with current national databases like the National Identification Number (NIN) and the Corporate Affairs Commission (CAC) registry.
The News Chronicle learnt that the architecture of Nigeria’s tax system seeks to minimize duplication by fusing with already in use national identification systems. This method makes sure that, without the necessity of a separate, stand-alone registration process, people and companies are automatically captured for tax purposes.
Atoyebi says the TIN is a 13-digit exclusive identifier that encodes information on companies and taxpayers. It covers the year of issuance, the source of registration (NIN for individuals and RC numbers for corporate entities), the state of enrollment and a cryptographic fragment for security.
She pointed out that the combining of TINs with current databases mirrors Nigeria’s changing tax changes meant to improve compliance, visibility, and efficiency. The system streamlines identification for tax purposes and helps the government’s attempts to grow the tax base without bothering bank clients rather than establishing obstacles.
Many Nigerians had worried that mandated TIN criteria for bank accounts would cause unwarranted hardship for people and small businesses, hence this clarification has helped to allay anxiety. The FIRS has calmed the public that banking access is still untouched by confirming that no more paperwork is required.
The update emphasizes the agency’s dedication to matching tax changes with national development objectives while also ensuring easy financial services for both people and corporations.
