Abuja – The Federal Inland Revenue Service (FIRS) has dismissed reports suggesting that Nigerians must first get a separate Tax Identification Number (TIN) before they can open or operate bank accounts.
The clarification came after concerns spread online that people without a TIN might be denied access to banking services.
Arabinrin Aderonke Atoyebi, Technical Assistant on Broadcast Media to FIRS Chairman Zacch Adedeji, explained in a weekend statement on X (formerly Twitter) that the reports were “misleading.”
She said the new TIN framework works automatically with existing national records such as the National Identification Number (NIN) for individuals and the Corporate Affairs Commission (CAC) registration numbers for businesses.
“When you give your NIN at the bank or during a Know Your Customer (KYC) process, the system automatically pulls out your TIN from the national database. You don’t have to apply for it separately,” Atoyebi said.
According to her, the TIN is a 13-digit number that uniquely identifies taxpayers in Nigeria. It contains details like the year of issuance, state of registration, and a security code.
For individuals, the TIN is linked directly to their NIN, while for companies, partnerships, and professional bodies, it is tied to their CAC registration numbers or other official registries.
She stressed that this setup means Nigerians can open and run bank accounts without worrying about manually presenting a tax ID.
Atoyebi also highlighted the benefits of the system:
- Easier Banking Access: Citizens and businesses only need their NIN or RC number; the TIN is automatically attached.
- Fraud Prevention: The system reduces cases of fake or duplicate identities.
- Regulatory Compliance: Banks and financial institutions can easily verify tax and identity records.
- Inclusivity: The framework also covers associations and cooperatives, not just companies and individuals.
- Global Compatibility: Nigeria’s system can align with international financial and trade requirements.
She insisted that the belief that Nigerians cannot operate a bank account without a TIN is wrong.
“In practice, if you walk into a bank with your NIN, you are already tax-compliant. The bank simply retrieves your TIN during the process,” she explained.
FIRS says the new system is designed to make things easier, not harder, for citizens. Instead of being a barrier, the tax ID framework is meant to promote transparency, financial inclusion, and trust in Nigeria’s digital economy.
