Fact Check: No, Nigerians Won’t Need a Separate TIN to Operate Bank Accounts in 2026

BY: Mustapha Lawal

Claim:

From January 2026, Nigerians will be required to present a separate Tax Identification Number (TIN) before opening or operating any bank account.

Verdict:

Misleading. The Federal Inland Revenue Service (FIRS) has clarified that while the new tax framework requires taxable persons to have a TIN, ordinary Nigerians who are not taxable do not need to obtain a separate TIN just to open or operate a bank account. The TIN is integrated with existing identifiers (NIN for individuals, CAC registration for companies), and banks will retrieve it via those registries, rather than requiring extra documentation from non-taxable citizens. 

Background:

There has been recent public alarm over reports suggesting that, from January 1, 2026, all Nigerians would need to present a TIN to access banking services. Stories circulating on social media and in some media outlets claimed this would be a new requirement, sparking concerns about an added bureaucratic burden for many citizens.

Tax reform in Nigeria is underpinned by the Nigeria Tax Administration Act (NTAA), which aims to harmonise the Tax Identification Number system and tie it more closely with national registries. Some outlets interpreted the law to mean that anyone opening a bank account,  whether a business owner or an ordinary citizen, must possess a TIN. The resulting confusion prompted widespread reporting and debate.

Verification:

FactCheckAfrica found that the Federal Inland Revenue Service (FIRS) has publicly clarified that the reports saying Nigerians without TINs would be barred from opening or operating bank accounts are misleading. 

The Technical Assistant on Broadcast Media to the FIRS Chairman, Aderonke Atoyebi, said that the system is designed such that the TIN is not an additional document requirement for individuals. Rather, it is automatically linked to existing identifiers, namely, the National Identification Number (NIN) for individuals and the CAC registration (RC number) for legal entities.

According to FIRS, banks will use the NIN or CAC number provided during customer registration or Know Your Customer (KYC) processes, and from the national directory, the system retrieves the corresponding TIN. Thus, no separate TIN application or separate documentation is required for non-taxable persons merely to open or maintain a bank account.

The Nigerian government and FIRS have made it clear that only taxable persons, that is, people or entities that carry on trade, business, or income-earning activities, are required by law to register for and have a TIN. Ordinary citizens who do not earn taxable income are not subject to this requirement for banking access. 

The NTAA (2025) is part of the legal framework that harmonises the TIN system, consolidating earlier rules (like those from the Finance Act, 2019). It does not create a new barrier for everyday banking by non-taxable Nigerians. 

Conclusion:

The claim that all Nigerians will need a separate Tax Identification Number to open or operate bank accounts starting January 2026 is misleading. In fact, the law requires only taxable persons to obtain a TIN. For most ordinary citizens, providing the NIN (or RC registration for businesses) will suffice, and the TIN is systemically linked behind the scenes, not an extra document.