Nigeria can Open Bank Accounts Without Tax ID, FIRS Clarifies

Nigerians Can Open Bank Accounts Without Tax ID, FIRS Clarifies

 

 

 

The Federal Inland Revenue Service (FIRS) has assured Nigerians that a Tax Identification Number (TIN) is no longer required to open or operate a bank account.

 

Aderonke Atoyebi, technical assistant on broadcast media to the FIRS executive chairman, explained that the TIN system is now integrated with national registries. This means individuals and businesses automatically become tax-compliant once they provide foundational identity numbers.

 

Under the Nigeria Tax Administration Act (2025), TINs are linked to the National Identification Number (NIN) for individuals and the Corporate Affairs Commission (CAC) registration number for businesses. Banks can now retrieve a customer’s TIN directly during Know Your Customer (KYC) checks, eliminating the need for extra paperwork.

 

“This integration removes duplicate or false identities, strengthens compliance, and promotes financial inclusion by ensuring taxpayers are automatically identified in real time,” Atoyebi said.

 

The system also covers cooperatives, professional bodies, and trustees, aligning Nigeria’s tax structure with global standards.

 

“With the automated process, Nigerians presenting their NIN or businesses providing their RC number are already tax-verified at the point of banking,” she added.

 

The FIRS clarified that citizens do not need to apply manually for a TIN. The system automatically retrieves and attaches the TIN when foundational identifiers are provided during banking or KYC procedures.

 

“This dispels the misconception that a tax ID is required before account ownership. Linking TINs to NINs and RC numbers ensures automatic compliance without unnecessary barriers,” Atoyebi concluded.