The Federal Government says all taxable Nigerians must obtain a Tax Identification Number (TIN) or Taxpayer Identification Number to continue operating bank accounts in the country as part of new tax reforms commencing Jan. 1, 2026.

The Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, stated this in an interview posted on his X account on Thursday.

Oyedele said Section 4 of the Nigerian Tax Administration Act (NTAA), which takes effect from Jan. 1, 2026, makes it mandatory for taxable persons to register for a tax ID.

He explained that the requirement applies only to individuals who earn income from trade, business or any economic activity, adding that students and dependents who do not earn income are exempt.

According to him, the policy has existed since the Finance Act 2020, but the new NTAA provides a clear legal framework for its enforcement.

He clarified that income earners and businesses already assigned a TIN do not need to obtain a new one.

“A taxable person is anyone who earns income through trade, business or any economic activity. Banks are therefore required to request a tax ID from such persons.

“This means individuals without income, such as students and dependents, do not need a tax ID to operate bank accounts,” he said.

Oyedele warned that taxable entities without a tax ID may experience difficulties operating their bank accounts when enforcement begins.

The clarification follows concerns among Nigerians over possible restrictions on bank accounts not linked to a tax ID.

President Bola Tinubu in June 2025 signed into law new tax measures to be implemented from January 2026.