Fidelity Bank Plc has announced that it will begin imposing transaction restrictions on customer accounts that are not properly linked to a Tax Identification Number (TIN) or a National Identity Number (NIN), effective January 1, 2026.
The bank communicated this change to its customers, citing the provisions of the Nigerian Tax Administration Act (NTAA) 2025.
The NTAA 2025 reportedly “stipulates that all bank accounts are required to be linked to a tax ID or National Identity Number—NIN (for customers without a tax ID).”
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The bank warned customers:“This implies that accounts without tax ID or national identity number may be restricted from transacting as from January 1, 2026. To ensure your account remains accessible, please update your NIN on your account as soon as possible.”
This development aligns with the federal government’s recent announcement regarding a definitive timeline for stricter tax compliance, which mandates banks to request TINs from all taxable Nigerian bank account holders starting in 2026.
Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, confirmed this regulatory shift. Oyedele explained that the enforcement is rooted in Section 4 of the Nigerian Tax Administration Act, which “legally mandates all taxable persons to register and obtain a TIN.”
He clarified the scope of the rule, stating:“A taxable person is anyone who earns income through trade, business, or any economic activity. So banks must request a tax ID from taxable persons.”
Oyedele noted that this policy is not entirely novel, having been initially introduced under the 2020 Finance Act, but had not been fully enforced until now. According to him, the NTAA 2025 provides the necessary legal framework to ensure comprehensive compliance across the banking sector starting in 2026.
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