No Separate TIN Needed to Operate Bank Accounts — FIRS Clarifies
The Federal Inland Revenue Service (FIRS) has dismissed reports suggesting that Nigerians will need to obtain a separate Tax Identification Number (TIN) before opening or maintaining bank accounts. The agency explained that the new framework integrates seamlessly with existing registries, such as the National Identification Number (NIN) for individuals and Corporate Affairs Commission (CAC) records for businesses.
The clarification followed widespread concerns triggered by media reports claiming that, from January 2026, citizens would be required to present a TIN for banking services — a claim that sparked fears of fresh bureaucratic barriers.
Reacting via her official X handle, Arabinrin Aderonke Atoyebi, Technical Assistant on Broadcast Media to the FIRS Executive Chairman, Zacch Adedeji, described the reports as misleading.
“In recent debates about Nigeria’s tax reforms, a widespread misconception has taken root: that citizens without a Tax Identification Number cannot own or operate a bank account. This is not true. Nigeria’s tax system has evolved to integrate seamlessly with existing national registries, ensuring every eligible individual or entity is automatically identifiable for tax purposes,” she wrote.
According to her, the TIN is a 13-digit identifier designed to uniquely capture details of all taxable persons and entities. She stressed that it is not a standalone requirement, but a statutory tool automatically linked to existing identifiers:
- For individuals: The TIN is tied to the NIN issued by the National Identity Management Commission (NIMC). During bank account opening or Know Your Customer (KYC) processes, once a citizen provides their NIN, the system cross-checks the national database, retrieves the TIN, and attaches it to the records in real time.
- For businesses: The TIN is automatically connected to their CAC registration number (RC Number). Similarly, cooperatives, partnerships, and professional bodies are covered through their recognized registries.
Atoyebi further highlighted the benefits of the framework, noting that it ensures seamless banking access, reduces fraud by eliminating duplicate or false identities, strengthens regulatory compliance, promotes financial inclusion, and aligns Nigeria’s system with global standards for trade and compliance.
She stressed that citizens do not need to apply separately for a TIN, nor present one manually when opening a bank account.
“By linking TINs to existing foundational identifiers like NIN and RC numbers, the system ensures automatic compliance without creating unnecessary hurdles. In practice, 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 explained.
Atoyebi concluded that the misconception had overshadowed the real goal of the new framework — to boost financial inclusion, enhance transparency, and support Nigeria’s digital economy, not to create new barriers for citizens.
