The Federal Government has confirmed that from January 1, 2026, all taxable Nigerians will be required to obtain a Tax Identification Number (Tax ID or TIN) before they can operate a bank account in the country. The policy was explained by Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, as part of reforms under the Nigeria Tax Administration Act (NTAA).
Under the new rules, banks will be obligated to request a Tax ID from individuals and businesses that qualify as taxable persons — those earning income through trade, employment, or economic activity. Persons without taxable income, such as students and dependents, are exempt and will not be required to obtain a Tax ID to keep or operate their accounts.