The Joint Tax Board (JTB) has dismissed reports claiming that Nigerians without a Tax Identification Number (Tax ID) will lose access to their bank accounts or be unable to carry out financial transactions from January 1, 2026.
The JTB assured the public that everyone will continue to use their bank accounts and perform financial transactions even after January 1, 2026.
According to report obtained by The News Chronicle on Sunday night, the Board explained that, under President Bola Ahmed Tinubu’s ongoing tax reforms, government is working to make the system simpler, fairer, and more inclusive.
The reforms aim to reduce multiple taxation, grant exemptions to small businesses and vulnerable individuals, and ensure that most Nigerians will pay lower taxes.
To achieve this, the JTB, working with the Federal Inland Revenue Service (FIRS) and all state tax agencies, is introducing a harmonised National Tax Identification system.
This new system will use the National Identification Number (NIN) for individuals and the Corporate Affairs Commission (CAC) Registration Number for businesses as their unique tax IDs. With this, Tax IDs will be generated automatically, making compliance easier and ensuring no disruption to financial transactions.
The JTB therefore urged Nigerians to ignore false claims and remain calm, stressing once again that nobody will be denied access to their bank accounts because of not having a Tax ID.
The Board reaffirmed its commitment to fair, people-focused tax policies that encourage economic growth, ease of doing business, and a tax-friendly environment in Nigeria.
