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FG Makes Tax ID Compulsory For Bank Accounts From 2026 – Tinubu Signs New Law
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Nigerians will not be able to open or run a bank account from January 1, 2026, without a Tax Identification Number (TIN).
This is part of the new Nigeria Tax Administration Act, 2025.
President Bola Tinubu signed the law on June 26, 2025.
The new law will affect all citizens, companies, and foreigners who use financial services in Nigeria.
What The New Act Says
The Act makes it clear.
From 2026, all persons must use a TIN for banking.
No bank is allowed to open or keep an account without it.
The law also covers insurance, stock market transactions, and contracts with government.
This means every citizen and business must register and get a TIN.
Why The Change Was Introduced
The government explained the reason.
Nigeria has low tax compliance.
Only a small number of people pay tax out of over 200 million citizens.
By linking tax ID to banks and contracts, the government can:
Track income.
Reduce fraud.
Improve tax collection.
Raise more funds for public projects.
Funds are needed for roads, schools, hospitals, security, and electricity.
How It Will Work In Banks
Banks will be required to check TINs.
No account will be opened for anyone without it.
People who already have accounts will need to update their details.
If they fail to register, their accounts may be blocked.
This will push millions of Nigerians to go and register before 2026.
Impact On Businesses
Businesses cannot function without a TIN.
They will be unable to:
Operate bank accounts.
Get government contracts.
Sign insurance deals.
Buy or sell shares on the stock exchange.
Every small or big company must register.
This includes shops, traders, and service providers.
Impact On Foreigners
The law also applies to foreigners.
Any foreign firm or worker that makes income in Nigeria must register for a TIN.
They will pay tax in Nigeria for services or goods supplied in the country.
This includes expatriates, foreign companies, and even online service providers.
New Tax Body – Nigeria Revenue Service
The Act created a new body called the Nigeria Revenue Service (NRS).
The NRS will take over from older tax offices.
It will control registration, collection, and enforcement.
The NRS will have a board.
The Executive Chairman will serve for four years and can serve again once.
The body will keep 4% of all revenue it collects, except petroleum royalties.
Penalties For Not Registering
The Act gives tax officers strong powers.
They can create a TIN for people who refuse to apply.
They can also reject applications if the person is not qualified.
Banks must block accounts without TINs.
Companies will lose contracts if they do not have one.
Individuals may face fines or lose access to funds.
When The Law Will Start
The Act was signed on June 26, 2025.
The law will take effect on January 1, 2026.
This gives Nigerians less than six months to prepare.
How To Get A TIN In Nigeria
The process is simple.
Citizens and businesses can apply online.
The official portal for TIN is:
👉 https://tin.jtb.gov.ng/
This portal is managed by the Joint Tax Board.
Applicants can use it to get a TIN free of charge.
Steps To Get A TIN For Individuals
Here is a clear guide for people:
- Visit the portal: Go to 👉 https://tin.jtb.gov.ng/
- Click on “Individual TIN Registration.”
- Enter your BVN (Bank Verification Number).
- Enter your NIN (National Identification Number).
- Fill in personal details. This includes your name, phone number, and address.
- Upload ID card. It can be National ID, voter card, or driver’s license.
- Submit the form.
- Wait for approval. A TIN will be sent by email or phone.
Most people get their TIN within five working days.
Steps To Get A TIN For Businesses
Companies also need to apply.
- Visit the portal: 👉 https://tin.jtb.gov.ng/
- Click on “Non-Individual TIN Registration.”
- Enter CAC registration number.
- Fill in business name, address, and nature of business.
- Upload CAC certificate.
- Add details of directors or owners.
- Submit the form.
- Get TIN by email or SMS.
Other Ways To Get A TIN
Apart from the portal, people can visit tax offices.
Each state has an office of the Federal Inland Revenue Service (FIRS).
Local tax offices under the Joint Tax Board also issue TINs.
Applicants should carry:
National ID card or driver’s license.
BVN.
Utility bill.
Business documents (for companies).
What Citizens Should Do Now
Nigerians are advised not to wait.
They should apply early to avoid the last-minute rush.
This will also stop banks from blocking their accounts.
Small businesses should update their records.
Foreign firms should also begin registration now.
Public Reactions
Some people say the new rule is good.
They believe it will reduce fraud and corruption.
Others say it may affect poor citizens who do not know how to apply.
Civil groups are asking the government to make the process easy.
They want free help desks in banks and rural areas.
Expert Views
Bankers say the law will change the financial sector.
They also say it may cause delays if millions rush at the same time.
Lawyers say the Act will improve tax law.
But they also warn that poor education on the process may cause hardship.
Tax experts welcome the reform.
They believe it will boost revenue for the government.
How Other Countries Use TIN
Many countries use tax ID systems.
In the US, people use the Social Security Number (SSN).
In the UK, they use the National Insurance Number.
In Ghana, they use a TIN for banks and businesses.
Nigeria is now moving in the same direction.
This will bring the country in line with global practice.
Challenges Expected
Some challenges may come up:
Poor internet in rural areas.
Lack of awareness.
Fake agents collecting money.
Delay in issuing TINs.
The government said it will provide online help and physical offices.
Government Promise
The government promised that registration will be free.
People are warned not to pay agents.
All citizens should use the official link 👉 https://tin.jtb.gov.ng/
The NRS said people will get their TIN within five days of applying.
Conclusion
The Nigeria Tax Administration Act, 2025, is a big reform.
From January 1, 2026, no TIN means no bank account.
No TIN means no insurance.
No TIN means no government contract.
The law will change life for Nigerians and foreigners in the country.
It will bring more money to the government but also bring new duties to citizens.
The best step now is for everyone to apply early.
The portal 👉 https://tin.jtb.gov.ng/ is open.
Do not wait until banks block your account.
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