Nigerians Must Have Tax ID to Operate Bank Accounts from January 2026 – FG

The Nigerian government has announced that all taxable individuals must obtain a Tax Identification Number (TIN) to operate bank accounts, as new tax reforms take effect on January 1, 2026. Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, explained in an interview on his X account that Section 4 of the Nigerian Tax Administration Act (NTAA) makes tax ID registration mandatory for anyone earning income through trade, business, or other economic activities.

Oyedele clarified that students and dependents are exempt from this requirement, and individuals or businesses that already have a TIN will not need to apply for a new one. He emphasized that banks will be required to request TINs from taxable customers, warning that those without one may face difficulties managing their accounts in the near future.

The policy, originally introduced in the Finance Act of 2020, is now being reinforced under the NTAA, which provides a clearer legal framework for implementation. The announcement follows concerns from Nigerians about potential restrictions on bank accounts lacking a TIN, and comes after President Bola Ahmed signed the updated tax laws into effect in June 2025.