The Federal Government has announced that all taxable Nigerians will be required to have a Tax Identification Number (TIN) to operate a bank account, effective January 1, 2026.
The policy was confirmed by Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, in a social media interview on Thursday. He clarified that the mandate is based on the Nigerian Tax Administration Act (NTAA) and applies to anyone earning income through trade, business, or economic activity.
Key exemptions include students and dependents who do not earn an income. Oyedele noted that the policy framework has existed since the Finance Act of 2020 but will now be fully implemented under the new NTAA. Income earners with existing TINs do not need to obtain a new one.
The announcement follows President Bola Tinubu’s signing of new tax laws in June 2025, aimed at broadening the nation’s tax base and improving revenue collection.
Disclaimer:
This report is based on an official interview with the Chairman of the Tax Reforms Committee. The final implementation guidelines will be issued by the relevant government agencies.
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