The Federal Inland Revenue Service (FIRS) “has clarified that Nigerians do not need to obtain a separate Tax Identification Number (TIN) to open or operate bank accounts,” amid reports suggesting a “new requirement from January 2026.”
In a statement, Arabinrin Aderonke Atoyebi, Technical Assistant to the FIRS Executive Chairman, explained that a “widespread misconception has taken root: that citizens without a Tax Identification Number (TIN) cannot own or operate a bank account.”
Atoyebi explained that “The reality is that Nigeria’s tax system has evolved to integrate seamlessly with existing national registries, ensuring that every eligible individual or entity is automatically identifiable for tax purposes.”
She stressed that “The TIN is not a standalone requirement imposed on citizens. Instead, it’s a statutory tool that ensures every taxpayer can be uniquely verified within the national tax system.”
For individuals, the TIN is automatically linked to their National Identification Number (NIN). Atoyebi explained, “When an individual provides their NIN during bank account opening or Know Your Customer (KYC) processes, the system cross-checks the NIN in the national database. As part of this verification, the TIN is automatically retrieved and attached to the person’s records.”
Businesses and legal entities are similarly linked through their Corporate Affairs Commission (CAC) registration numbers.
Noting the benefits of the integrated system, Atoyebi stated that “Individuals and businesses can open and operate bank accounts using their NIN or RC number, with the TIN automatically integrated behind the scenes.”
She added that “The system eliminates duplicate or false identities” and that the “misconception that Nigerians would be barred from banking services without a separate TIN was misplaced.”
Atoyebi concluded, “By linking TINs to existing foundational identifiers such as the NIN and RC Number, the system ensures automatic compliance without creating unnecessary barriers for citizens. In practice, this means a Nigerian walking into a bank with their NIN is already tax-compliant. The bank simply retrieves their TIN as part of its onboarding process.”
She said the TIN framework “enhances financial inclusion, transparency, and compatibility with international financial systems, without imposing new bureaucratic hurdles.”
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