TIN Not Needed To Operate Bank Accounts – FIRS Declare

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The Federal Inland Revenue Service (FIRS) has clarified that Nigerians are not required to obtain a separate Tax Identification Number (TIN) before operating or opening bank accounts.

The clarification followed widespread reports suggesting that, from January 2026, citizens would need to present a TIN to access banking services—a claim that sparked public concern over the possibility of new bureaucratic hurdles.

Reacting to the controversy, the Technical Assistant on Broadcast Media to the FIRS Chairman, Aderonke Atoyebi, said the reports were misleading.

In a statement posted on her official X handle, she explained that the TIN framework has been designed to integrate with existing national registries such as the National Identification Number (NIN) and Corporate Affairs Commission (CAC) records.

“In recent debates about Nigeria’s tax reforms, a widespread misconception has taken root: that citizens without a TIN cannot own or operate a bank account.

“The reality is that Nigeria’s tax system has evolved to integrate seamlessly with existing national registries, ensuring that every eligible individual or entity is automatically identifiable for tax purposes,” she wrote.

According to her, the TIN is a 13-digit identifier uniquely capturing details of taxable persons and entities. It encodes information such as issuance year, registry source (NIN for individuals, RC for companies), state of registration, and a cryptographic security fragment.

She stressed that it is not an additional requirement imposed on citizens but a statutory tool that enables tax authorities to verify taxpayers within the system.

For individuals, the TIN is automatically linked to their NIN issued by the National Identity Management Commission (NIMC). During banking or Know Your Customer (KYC) processes, a customer’s NIN is cross-checked, and their TIN is retrieved in real time without the need for manual application.

Businesses, cooperatives, and other legal entities are also automatically covered, with their TIN tied directly to CAC registration numbers or other recognised registries.

Atoyebi highlighted several advantages of the integrated system, including simplified banking access, fraud prevention, and enhanced compliance.

“Individuals and businesses can open and operate bank accounts using their NIN or RC number, while the TIN is integrated behind the scenes. The framework eliminates duplicate or false identities, provides banks with a reliable compliance tool, and promotes inclusivity by extending to associations, professional bodies, and trustees,” she explained.

She further noted that the system positions Nigeria’s tax administration for global compatibility, especially in areas like trade finance and regulatory cooperation.

Dismissing fears that Nigerians would be excluded from banking services without a separate TIN, she stressed that the system was designed to reduce barriers, not create them.

“In practice, a Nigerian who walks into a bank with their NIN is already tax-compliant. The bank simply retrieves their TIN during the onboarding process,” she said.

Atoyebi concluded that the framework should be viewed as a gateway to financial inclusion, regulatory transparency, and digital transformation, rather than as a fresh bureaucratic burden.

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