FIRS debunks reports on use of TIN to open, operate bank accounts

By Tunde Oso

The Federal Inland Revenue Service has dismissed claims that Nigerians indispensable get a abstracted Tax Identification Number earlier they tin ain oregon run a slope account, insisting that the caller model integrates seamlessly with existing nationalist registries specified arsenic the National Identification Number and Corporate Affairs Commission records.

The clarification comes amid wide statement pursuing media reports suggesting that from January 2026, each Nigerian would beryllium required to contiguous a TIN to unfastened oregon support a slope account, a improvement that generated fears of caller bureaucratic hurdles for citizens.

Reacting to the controversy, Arabinrin Aderonke Atoyebi, the Technical Assistant connected Broadcast Media to the Executive Chairman of FIRS, Zacch Adedeji, explained successful a station titled: Explainer: Comprehensive Framework of the Tax ID; connected her authoritative X grip @AderonkeW astatine the weekend, that the reports were misleading.

“In caller debates astir Nigeria’s taxation reforms, a wide misconception has taken root: that citizens without a Tax Identification Number (TIN) cannot ain oregon run a slope account.

“This view, portion the world is that Nigeria’s taxation strategy has evolved to integrate seamlessly with existing nationalist registries, ensuring that each eligible idiosyncratic oregon entity is automatically identifiable for taxation purposes.

“This nonfiction clarifies however the caller model works, drafting from the Federal Inland Revenue Service’s (FIRS) implementation of the National Taxpayer Directory nether the Nigeria Tax Administration Act (2025)”, her connection read.

She explained that the TIN is simply a 13-digit identifier designed to uniquely seizure details of taxable persons and entities crossed Nigeria.

She continued, “What is simply a Tax ID? The Tax Identification Number (TIN) is simply a 13-digit unsocial identifier for each taxable persons and entities successful Nigeria. It encodes details specified arsenic issuance year, registry root (NIN for individuals, RC for corporates), authorities of registration, and a cryptographic fragment for security, ending with a cheque digit.

“The TIN is not a standalone request imposed connected citizens. Instead, it’s a statutory instrumentality that ensures each taxpayer, whether an individual, a registered business, oregon an association, tin beryllium uniquely verified wrong the nationalist taxation system.”

On the integration with nationalist individuality systems, Atoyebi stressed that citizens are already tax-compliant erstwhile they supply their NIN.

“Tax ID and the National Identity Management Commission, NIMC: For individuals, the TIN is automatically linked to their National Identification Number (NIN) issued by the National Identity Management Commission (NIMC).

“When an idiosyncratic provides their NIN, specified arsenic during slope relationship opening oregon Know Your Customer (KYC) processes, the strategy cross-checks the NIN successful the nationalist database. As portion of this verification, the TIN is automatically retrieved and attached to the person’s records.

“This means citizens bash not request to manually use for oregon contiguous a taxation ID earlier opening a slope account. The strategy handles the integration successful existent time”, her mentation added.

She added that businesses are besides covered done their CAC registration numbers.

“Tax ID and the Corporate Affairs Commission, CAC: For businesses, the TIN is tied straight to the RC Number issued by the Corporate Affairs Commission (CAC).

“Likewise, for cooperatives, partnerships, nonrecreational bodies, and different ineligible entities, the TIN is connected to their respective recognised registries. This linkage ensures that firm entities tin beryllium transparently identified for some taxation & compliance purposes. Just arsenic with individuals, banks and regulators bash not necessitate other documentation beyond the foundational registry numbers to corroborate taxation status”, she continued.

Highlighting the wider benefits, she argued that the model promotes inclusivity, fiscal access, and fraud prevention.

She added, “Exploring the Benefits of Tax ID: Seamless Banking Access: Individuals and businesses tin unfastened and run slope accounts utilizing their NIN oregon RC number, with the TIN automatically integrated down the scenes. Fraud Reduction: The strategy eliminates duplicate oregon mendacious identities by ensuring each payer is tied to a verifiable registry.

“Regulatory Compliance: Banks and fiscal institutions tin trust connected a single, consent-driven root of information for onboarding, reporting, and KYC compliance. Inclusivity: Beyond companies, the model extends sum to associations, nonrecreational bodies, and trustees. Global Compatibility: Nigeria’s taxation strategy tin securely interact with ...