The Federal Government has confirmed that, from January 1, 2026, all income-earning Nigerians must have a Tax Identification Number to operate a bank account.
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, explained in an interview shared on his X handle that the Nigerian Tax Administration Act makes a tax ID compulsory for anyone who earns an income through business or any economic activity.
He clarified that students and dependents are exempt because they do not fall under the “taxable person” category. He also noted that those who already have a TIN will not need to apply again.
Oyedele warned that taxable individuals without a tax ID may encounter challenges operating their bank accounts once the law takes effect.
