The Federal Government has announced that all Nigerians subject to taxation will be required to possess a Tax Identification Number (TIN) in order to operate bank accounts starting January 1, 2026.
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, disclosed the policy shift in an interview shared on social media on Thursday. According to Oyedele, the mandate is backed by provisions in the Nigerian Tax Administration Act (NTAA), which comes into force in the new year.
Under the new requirement, only taxable individuals and business entities will need to obtain and present a TIN to maintain or open bank accounts. Oyedele clarified that students and dependents who do not earn taxable income will be exempt from the mandate.
The development follows President Bola Tinubu’s signing of several tax reform bills earlier in 2025, aimed at broadening Nigeria’s tax base and increasing revenue mobilization. The government says the move is intended to streamline tax collection, improve compliance, and strengthen fiscal policy implementation across the economy.
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