FIRS debunks reports on mandatory TIN requirement for bank accounts

By Kunle Sanni –

The Federal Inland Revenue Service (FIRS) has dismissed reports suggesting that Nigerians will be required to obtain a separate Tax Identification Number (TIN) to open or operate bank accounts from January 2026.

In a statement issued on Monday, the agency clarified that the new tax framework is integrated with existing national registries—including the National Identification Number (NIN) for individuals and Corporate Affairs Commission (CAC) records for businesses—and does not impose additional requirements on citizens.

Arabinrin Aderonke Atoyebi, Technical Assistant on Broadcast Media to FIRS Chairman Zacch Adedeji, described the reports as “misleading.” She explained that the TIN functions solely as a statutory tool for uniquely identifying taxpayers and is automatically linked to existing national databases.

“Individuals are already tax-compliant once they provide their NIN. The system automatically links the NIN with the TIN during processes such as bank account opening and Know Your Customer (KYC) checks,” Atoyebi said, stressing that there is no need for citizens to manually apply for or present a TIN.

She added that registered businesses are automatically covered through their CAC numbers, ensuring a seamless process across banking and tax systems.

The clarification follows public concern over reports that the new system would create additional bureaucratic hurdles for account holders.