The Federal Inland Revenue Service (FIRS) has officially dispelled widespread concerns regarding the requirement of a separate Tax Identification Number (TIN) for Nigerians to open or maintain bank accounts. In a statement released today, FIRS emphasized that individuals are not required to obtain a new or separate TIN if they already possess valid identification such as a National Identification Number (NIN) or Corporate Affairs Commission (CAC) registration number.
“There is no need for duplication,” said Arabinrin Aderonke Atoyebi, media aide to FIRS Executive Chairman Zacch Adedeji. “Your NIN or CAC number now serves as your Tax ID under the harmonized framework.”
This clarification follows public anxiety triggered by reports surrounding the Nigeria Tax Administration Act (NTAA), which comes into effect on January 1, 2026. The Act mandates that taxable persons—those earning income through trade, business, or other economic activities—must provide a Tax ID to operate bank accounts and access financial services.
This reform is part of a broader effort to simplify Nigeria’s tax system, reduce bureaucracy, and enhance compliance. By consolidating identifiers across agencies, the government aims to eliminate duplication and make it easier for citizens and businesses to meet their obligations without unnecessary hurdles.