No plan to block bank accounts without TIN- FIRS

The Federal Inland Revenue Service (FIRS) has debunked claims that Nigerians must obtain a separate Tax Identification Number (TIN), before they can own or operate a bank account.

The Service explained that the new framework integrates seamlessly with existing national registries such as the National Identification Number (NIN) and Corporate Affairs Commission records.

There had been widespread debate on social media following reports suggesting that, from January 2026, every Nigerian would be required to present a TIN to open or maintain a bank account.

But Arabinrin Aderonke Atoyebi, technical assistant on Broadcast Media to Zacch Adedeji, executive chairman of FIRS, explained in a post on her official X handle that the reports were misleading.

According to Atoyebi, the TIN is a 13-digit identifier that encodes details such as the year of issuance, registry source (NIN for individuals, RC for corporates), state of registration, and a cryptographic fragment for security. It ends with a check digit and serves as a statutory tool for uniquely verifying taxpayers within the national tax system.

She emphasised that for individuals, the TIN is automatically linked to their NIN issued by the National Identity Management Commission (NIMC).

When someone provides their NIN during bank account opening or Know Your Customer (KYC) processes, the system cross-checks the national database and retrieves the TIN in real time. This means citizens do not need to manually apply for or present a tax ID to access banking services.

For businesses, the TIN is tied directly to the RC Number issued by the CAC. Cooperatives, partnerships, professional bodies, and other legal entities are also covered through their respective registries. Banks and regulators can confirm tax status using these foundational identifiers without requiring additional documentation.

Atoyebi highlighted the broader benefits of the integrated system, including seamless banking access, fraud reduction, and improved regulatory compliance. She noted that the framework promotes inclusivity by extending coverage to associations, professional bodies, and trustees, and enhances Nigeria’s compatibility with international financial systems.

She stated that the notion that Nigerians would be barred from banking services without a separate TIN is misplaced. The integrated design ensures automatic compliance, making the TIN framework a gateway to financial inclusion, transparency, and global interoperability in Nigeria’s digital economy.