Tag: Tax Identification Number

FG mandates crypto-transactions be linked to Tax IDs, NINs

Aminu Imam
FG mandates crypto

Nigeria has introduced a new requirement mandating that cryptocurrency transactions be linked to Tax Identification Numbers (TINs) and National Identification Numbers, (NINs). The policy is aimed at strengthening regulatory oversight, improving tax compliance, and enhancing transparency within the country’s growing digital asset eco-system. Under the new framework, individuals and entities engaging in crypto transactions will be required to provide verifiable identification details. Officials say the move aligns with broader efforts to formalise the digital economy, curb illicit financial flows, and ensure that crypto-related activities are captured within Nigeria’s tax and…

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NIN, CAC numbers now serves as tax ID for individuals’ – FIRS 

Aminu Imam
FIRS on NIN2

The National Identification Number (NIN) issued by the National Identity Management Commission (NIMC) has now automatically become a Tax ID for Nigerians starting from January 2026, according to the Federal Inland Revenue Service, (FIRS). The declaration comes amidst concerns over a provision of the tax laws mandating a Tax ID for bank account ownership. According to data released by the NIMC, a total of 123.9 million Nigerians had been issued the NIN as of October 2025. In a public awareness campaign on the new tax laws posted on X on…

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FG to restrict bank accounts for Nigerians without TIN from January 

Aminu Imam
FGN on TIN

The Federal Government has announced plans to enforce a new phase of its tax reforms, targeting bank account holders across the country. From January 1, 2026, all taxable Nigerians will be required to possess a valid Tax Identification Number, (TIN), before they can operate their bank accounts. The announcement was made by Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, who explained that the requirement is anchored in Section 4 of the Nigerian Tax Administration Act (NTAA), which comes into effect at the start of…

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