No Separate TIN Required To Operate Bank Accounts – FIRS
The Federal Inland Revenue Service (FIRS) has said Nigerians do not need to obtain a separate Tax Identification Number (TIN) before they can open or operate bank accounts, dismissing reports that a new requirement would begin in January 2026.
Arabinrin Aderonke Atoyebi, Technical Assistant on Broadcast Media to FIRS Chairman, Zacch Adedeji, explained in a statement on her X handle on Saturday that the new tax framework integrates with existing national registries, including the National Identification Number (NIN) for individuals and the Corporate Affairs Commission (CAC) for businesses.
“In recent debates about Nigeria’s tax reforms, a widespread misconception has taken root: that citizens without a Tax Identification Number (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 said.
According to her, the TIN is a 13-digit identifier that captures details of taxable persons and entities, including issuance year, registry source, state of registration, and a cryptographic fragment ending with a check digit.
“The TIN is not a standalone requirement imposed on citizens. Instead, it’s a statutory tool that ensures every taxpayer can be uniquely verified within the national tax system,” Atoyebi added.
She noted that for individuals, the TIN is automatically linked to their NIN. “When an individual provides their NIN during bank account opening or Know Your Customer (KYC) processes, the system cross-checks the NIN in the national database. As part of this verification, the TIN is automatically retrieved and attached to the person’s records.”
Atoyebi explained that businesses and legal entities are similarly linked through their CAC registration numbers, making tax and compliance checks seamless.
She said the integrated system would ease access to financial services, reduce fraud, and strengthen regulatory compliance.
“Individuals and businesses can open and operate bank accounts using their NIN or RC number, with the TIN automatically integrated behind the scenes. The system eliminates duplicate or false identities, and banks and financial institutions can rely on a single, consent-driven source for onboarding, reporting, and KYC compliance,” she stated.
Atoyebi stressed that the belief that Nigerians would be barred from banking services without a separate TIN was wrong.
“By linking TINs to existing foundational identifiers such as the NIN and RC Number, the system ensures automatic compliance without creating unnecessary barriers for citizens. In practice, this means a Nigerian walking into a bank with their NIN is already tax-compliant. The bank simply retrieves their TIN as part of its onboarding process,” she clarified.
FIRS said the clarification was to reassure citizens and businesses that the TIN framework was designed to promote financial inclusion, transparency, and global compatibility, without imposing fresh bureaucratic hurdles.
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
