The Federal Inland Revenue Service (FIRS) has dismissed reports claiming that Nigerians without a Tax Identification Number (TIN) cannot open or operate bank accounts, describing them as misleading.
Zacch Adedeji’s Technical Assistant on Broadcast Media explained that the country’s tax administration system has been restructured to integrate seamlessly with existing national databases, ensuring every individual and entity is automatically identifiable for tax purposes without additional applications.
The TIN, a 13-digit unique code, is automatically linked to existing identifiers. For individuals, it is tied to their National Identification Number (NIN), while for businesses, it is linked to their Corporate Affairs Commission (CAC) registration number. Partnerships, cooperatives, and professional bodies also have their TINs connected to their respective recognized registries.
This integration means that when customers provide their NIN or BVN during banking or Know Your Customer (KYC) checks, the system cross-references databases and retrieves their TIN in real time.
The framework streamlines compliance, reduces fraud by eliminating duplicate or false identities, and strengthens confidence for banks and regulators by providing a single verified source for checks. It also aligns Nigeria’s tax system with international financial and compliance standards, enhancing transparency and inclusivity.
FIRS emphasized that Nigerians do not need to present a separate tax ID before opening or operating bank accounts. Anyone with a valid NIN or BVN is already tax-compliant, as their TIN is automatically embedded in the system.
“The TIN is not a barrier but a gateway to financial inclusion, transparency, and global compatibility within Nigeria’s evolving digital economy,” the agency stated.
