The Federal Inland Revenue Service (FIRS) has clarified that Nigerians will not be required to obtain a separate Tax Identification Number (TIN) before opening or operating bank accounts, contrary to recent media reports.
Arabinrin Aderonke Atoyebi, Technical Assistant on Broadcast Media to FIRS Chairman Zacch Adedeji, said on Saturday that the reports were misleading.
“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 is not correct,” she wrote on her official X handle.
According to Atoyebi, the new framework integrates seamlessly with existing national registries, including the National Identification Number (NIN) for individuals and the Corporate Affairs Commission (CAC) records for businesses.
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She explained that the 13-digit TIN is automatically linked to these identifiers, meaning citizens and corporate entities do not need to apply separately.
“For individuals, the TIN is automatically tied to their NIN, while businesses have theirs linked to CAC registration numbers. Banks simply retrieve these records during account opening or verification,” she said.
Atoyebi stressed that the design promotes inclusivity, financial access, fraud prevention, and regulatory compliance without creating fresh bureaucratic hurdles.
“The misconception that Nigerians cannot operate a bank account without a tax ID overlooks the integrated design of the new system,” she added. “In practice, anyone providing their NIN or RC number is already tax-compliant.”
The clarification comes amid public concern that the Nigeria Tax Administration Act (2025) would make TIN presentation mandatory for banking services starting in 2026