The Federal Government has announced that, beginning January 1, 2026, all taxable Nigerians will be required to obtain a Tax Identification Number (TIN) or Taxpayer Identification Number to operate a bank account in the country.

Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, disclosed this in an interview posted on his X account on Thursday. He explained that Section 4 of the Nigerian Tax Administration Act (NTAA), which takes effect in 2026, makes a tax ID compulsory for all taxable individuals.

He clarified that the requirement excludes students and dependents, who are not considered taxable persons and will therefore be able to maintain their bank accounts without a tax ID.

Oyedele noted that the policy has been in place since the 2020 Finance Act but will now have full legal backing under the NTAA. Individuals and businesses that already have TINs will not need to obtain new tax IDs.

“A taxable person is anyone who earns income through trade, business, or any economic activity. Banks must request a tax ID from taxable persons,” he said. “This means individuals who do not earn income, such as students and dependents, do not need a tax ID. But from January 2026, taxable persons without one may soon experience difficulty operating their bank accounts.”

The clarification follows growing public concern that bank accounts without tax IDs could be restricted once enforcement begins.