The Federal Inland Revenue Service (FIRS) has assured Nigerians that they do not need to manually present a Tax Identification Number (TIN) when opening or operating a bank account.
In a clarification issued by Aderonke Atoyebi, Technical Assistant on Broadcast Media to the FIRS Executive Chairman, the agency explained that the new Nigeria Tax Administration Act (2025) has integrated the TIN system with national registries.
Under this framework, individuals’ TINs are automatically linked to their National Identification Numbers (NIN), while businesses have theirs connected to the Corporate Affairs Commission (CAC) Registration Numbers. This integration allows banks to automatically retrieve tax details during Know Your Customer (KYC) checks without requiring extra documentation.
“The misconception that Nigerians cannot own or operate a bank account without a tax ID overlooks the integrated design of the new system,” Atoyebi stated. “Once an individual provides their NIN, or a business submits its RC Number, the TIN is automatically generated and attached to their records in real time.”
The FIRS added that the reform not only simplifies compliance but also reduces cases of duplicate or false identities, enhances financial inclusion, and aligns Nigeria’s tax administration with international standards.
FIRS added that the automation also extend to professional bodies, cooperatives, and trustees, ensuring broader tax coverage while removing barriers that previously discouraged many Nigerians from formal banking.