No Nigerian will lose bank access over tax IDs — JTB

By Kunle Sanni –

The Joint Tax Board (JTB) has dismissed claims that Nigerians without Tax Identification Numbers (Tax IDs) will lose access to their bank accounts starting January 1, 2026.

In a statement issued on Sunday, the JTB assured citizens that they will continue to access their accounts and carry out financial transactions beyond that date, describing reports to the contrary as false.

The Board explained that ongoing tax reforms under President Bola Tinubu’s administration aim to simplify compliance, reduce multiple taxation, and grant exemptions to vulnerable groups and small businesses. It added that most Nigerians would pay lower taxes under the new regime.

To support these reforms, the JTB and the Federal Inland Revenue Service (FIRS) are developing a harmonised national tax identification system. This system will use the National Identification Number (NIN) for individuals and the Corporate Affairs Commission’s registration number for businesses to automatically generate Tax IDs—making compliance easier without disrupting banking activities.

“We restate, for the avoidance of doubt, that Nigerians will continue to have access to their bank accounts and carry out financial transactions beyond January 1, 2026. No one will be denied access on account of not having a Tax ID,” the statement read.

The JTB reaffirmed its commitment to implementing people-centred tax policies that promote growth, fairness, and ease of doing business, while maintaining Nigeria as a tax-friendly environment.