Tag: TIN

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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Tax: ‘No need for separate TIN to open bank accounts’ – FIRS clarifies

Aminu Imam
FIRS clarifies

The Federal Inland Revenue Service, (FIRS), has clarified that Nigerians do not require a separate Tax Identification Number, (TIN), to open or operate bank accounts, contrary to widespread public belief. According to FIRS, the TIN framework has been designed to integrate seamlessly with existing national registries, making every eligible individual or entity automatically identifiable for tax purposes. Under the new National Taxpayer Directory, introduced by the Nigeria Tax Administration Act (2025), individuals’ TINs are automatically linked to their National Identification Number, (NIN), while corporate entities’ TINs are tied to their…

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