The federal government will require banks to collect Tax Identification Numbers (TINs) from all taxable Nigerians starting January 1, 2026, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has announced.
In an interview shared on his X account on Thursday, Oyedele said the mandate stems from Section 4 of the Nigerian Tax Administration Act (NTAA), which formalises the requirement for all income earners and businesses to possess a TIN.
He clarified that students and dependents are exempt. “A taxable person is anyone earning income through trade, business, or economic activity. Banks must request a TIN from such individuals. Those without income, like students and dependents, are not required to obtain one,” he said.
Oyedele noted that Nigerians and businesses who already have TINs will not need new ones. He also cautioned that taxable entities without a TIN may face difficulties operating their bank accounts in the near future.
The announcement comes amid growing public concern that bank accounts without TINs could soon be restricted. The directive follows President Bola Tinubu’s signing of new tax laws in June 2025, which take effect January 2026.
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