Fidelity Bank to Restrict Accounts Without TIN or NIN from January 2026
Fidelity Bank Plc has announced that, starting January 1, 2026, it will impose restrictions on bank accounts that are not linked to a Tax Identification Number (TIN) or a National Identity Number (NIN).
The bank made this disclosure in a notification to its customers, citing the Nigerian Tax Administration Act (NTAA) 2025 as the legal basis for the move.
The notification explained that all bank accounts must now be connected to a TIN. Customers who do not have a TIN are required to link their NIN instead. “Accounts without a tax ID or national identity number may be restricted from performing transactions starting January 1, 2026. To avoid disruption, please update your NIN on your account promptly,” the bank advised.
This development comes in line with the federal government’s plan to enforce stricter tax compliance. From next year, banks will be required to verify that all taxable Nigerians operating accounts have a TIN.
Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, confirmed the regulatory change in a recent post on his X (formerly Twitter) account. He explained that the enforcement is based on Section 4 of the NTAA, which mandates all taxable individuals and businesses to register for a TIN.
“A taxable person includes anyone earning income from trade, business, or other economic activities. Banks are therefore required to request TINs from such individuals,” Oyedele said.
He also pointed out that while this policy was first introduced under the 2020 Finance Act, it had not been fully enforced. The NTAA 2025 now provides the legal framework to ensure full compliance across the banking sector starting 2026.
- Do you think this new rule will change how Nigerians use their bank accounts next year? Share your thoughts in the comments.
