No Need for Separate TIN to Operate Bank Accounts — FIRS Clarifies

This clarification comes amid widespread public debate following media reports indicating that, from January 2026,
every Nigerian would need to present a TIN to open or maintain a bank account — a development which triggered fears of
fresh bureaucratic hurdles.

“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. In reality, 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.

• Issuance year
• Registry source (NIN for individuals, RC for corporates)
• State of registration
• Cryptographic fragment for security
• Check digit for verification

She emphasized that the TIN is not a standalone requirement imposed on citizens but a statutory tool that
ensures every taxpayer — whether individual, registered business, or association — can be uniquely verified within the
national tax system.

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For Individuals:

The TIN is automatically linked to the National Identification Number (NIN) issued by the
National Identity Management Commission (NIMC).
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.
The TIN is automatically retrieved and attached to the person’s records, eliminating the need for
citizens to manually apply for or present a tax ID before opening a bank account.

For Businesses:

For companies, the TIN is tied directly to the RC Number issued by the CAC.
Likewise, cooperatives, partnerships, professional bodies, and other legal entities have their TIN connected to their
respective recognized registries. This ensures banks and regulators do not require extra documentation beyond the
foundational registry numbers to confirm tax status.

• Seamless Banking Access: Individuals and businesses can open and operate bank accounts using their
  NIN or RC number, with the TIN automatically integrated behind the scenes.
• Fraud Reduction: Eliminates duplicate or false identities by ensuring every taxpayer is tied to a verifiable registry.
• Regulatory Compliance: Banks and financial institutions can rely on a single, consent-driven source of truth for onboarding, reporting, and KYC compliance.
• Inclusivity: The framework extends coverage to associations, professional bodies, and trustees.
• Global Compatibility: Nigeria’s tax system can securely interact with international systems for trade finance and compliance.

“The misconception that Nigerians cannot own or operate a bank account without a tax ID overlooks the integrated design
of the new TIN system. 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, 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. Far from being a hurdle, the
TIN framework is a gateway to financial inclusion, regulatory transparency, and global
interoperability in Nigeria’s evolving digital economy.