The Federal Government has announced a directive stating that, effective January 1, 2026, all taxable Nigerians will be required to obtain a Tax Identification Number or Taxpayer Identification Number in order to operate a bank account within the country.

This information was disclosed by the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, during an interview shared on his X account on Thursday.

Oyedele stated that the possession of a tax ID is being made compulsory for all taxable individuals under the authority of a specific piece of legislation.

According to him, Section 4 of the Nigerian Tax Administration Act, which takes effect on January 1, 2026, makes the possession of a tax ID mandatory for all taxable individuals.

He offered an important clarification, noting that the new requirement does not extend to certain groups of people, who will be exempted from needing a tax ID to maintain a bank account; specifically, students and dependents will be exempted.

Oyedele pointed out that the core policy has been in place since the 2020 Finance Act, but the NTAA now provides the necessary legal framework for its enforcement. He further confirmed that individuals who already earn an income and businesses that have been issued TINs will not need to obtain new tax IDs.

In the interview, he provided a detailed explanation of the scope and application of the new requirement. “Yes, but with some exemptions. A section of the NTAA requires a taxable person to register and obtain a tax ID.”

He then defined who qualifies as a taxable person under the Act. “A taxable person is anyone who earns income through trade, business, or any economic activity. So banks must request a tax ID from taxable persons. This means that individuals who do not earn an income, such as students and dependents, do not need to obtain a tax ID.”

Oyedele issued a strong caution regarding compliance with the deadline. “As of January 2026, any taxable entity without a tax ID may have difficulty running their bank account in the near future,” he said in the interview.

This detailed clarification from the government official comes amid widespread concern among Nigerians who have expressed worry that bank accounts lacking a Tax ID could soon face severe restrictions.

The PUNCH had previously reported that President Bola Tinubu officially signed the new tax laws in June 2025, laws which are scheduled to take effect in January 2026.