Starting January 1, 2026, all Nigerians who own a bank account will be required to provide a Tax Identification Number (TIN) in order to continue operating it. The rule is part of the Nigeria Tax Administration Act, 2025, which was recently signed into law by President Bola Tinubu.
The legislation marks a major shift in the country’s tax administration and is expected to affect not only individuals with bank accounts but also businesses, insurance holders, and investors.
What the New Law Says -Tax Identification Number
According to Section 8(2) of the Act, “A person engaged in banking, insurance, stock-broking, or other financial services in Nigeria shall ensure that every taxable person provides a Tax ID.”
This means that from 2026, Nigerians will need a TIN to operate bank accounts, take out insurance, or engage in stock-broking transactions. The law also applies to foreigners who do business or earn income in Nigeria. Under Section 6(1), non-residents supplying goods or services in Nigeria must also register for a Tax ID.
To drive compliance, tax authorities are empowered to automatically assign a TIN to anyone who fails to register on their own. For businesses that temporarily suspend operations, the Act requires notification to tax authorities within 30 days in order to suspend or deregister their ID.
How to Get Your Tax ID
The process of obtaining a TIN has been simplified and is free of charge. Many Nigerians may already have one automatically generated through their Bank Verification Number (BVN) or National Identification Number (NIN).
- Step 1: Verify if you already have a TIN
- Visit the Joint Tax Board (JTB) portal at https://tin.jtb.gov.ng
- Select “Search for TIN”
- Enter your BVN and date of birth
- Step 2: Register if you don’t have one
- Go to the JTB TIN Registration Portal
- Choose “Register for TIN” (individuals)
- Provide your BVN, NIN, and personal details
- Submit the form and download your Tax ID certificate once issued
Authorities have advised citizens to complete the process well before the January 2026 deadline to avoid disruptions to financial services.
Expert Clarification
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, explained that the measure is not entirely new but an enforcement of existing provisions.
In a post on his official X (formerly Twitter) account, Oyedele wrote that, “This ensures fairness so that everyone who earns taxable income contributes their share while protecting low-income citizens who are not taxable.”
He added that, in practice, the NIN for individuals and CAC registration number for companies will eventually serve as the tax identification number.
Why It Matters
The Federal Government says the move is aimed at creating a transparent and accountable financial system, closing loopholes, and ensuring wider tax compliance. Without a TIN, individuals and businesses may be unable to access essential banking services, insurance, or investment platforms.
