ABUJA, September 13, 2025 – Jungle-Journalist.Com reports that Nigerians who operate bank accounts must obtain a Tax Identification Number (TIN) before January 1, 2026, or risk losing access to their accounts.
The new directive, contained in the Nigeria Tax Administration Act (NTAA) 2025 recently signed into law by President Bola Ahmed Tinubu, makes it mandatory for all individuals and businesses to present a Tax ID to continue banking and other financial transactions.
According to a report intercepted by Jungle-Journalist.Com, the process of getting a TIN is free, quick, and in many cases automatic, as some Nigerians already have one generated from their BVN or NIN.
How to Get Your TIN
Step 1: Check if you already have one
- Visit the Joint Tax Board (JTB) TIN Verification Portal at https://tin.jtb.gov.ng
- Select “Search for TIN”
- Enter your BVN and Date of Birth
Step 2: Register if you don’t
- Visit the JTB TIN Registration Portal
- Select “Register for TIN (Individuals)”
- Fill in your BVN, NIN, and other required details
- Submit the form and download your TIN certificate
Jungle-Journalist.Com gathered that the entire process is completely free of charge and can be done online without visiting tax offices.
Implications of the Law
- Section 8(2): Anyone using banking, insurance, stock-broking, or financial services in Nigeria must have a valid TIN.
- Section 6(1): Non-residents earning income from Nigeria must also obtain a TIN.
- Section 7(3): Tax authorities are empowered to automatically assign TINs to those who fail to register.
The law also compels businesses that suspend operations to notify tax authorities within 30 days.
Expert Clarification
Jungle-Journalist.Com reports that the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr. Taiwo Oyedele, explained that the reform is an enforcement of existing tax rules dating back to the Finance Act 2019.
He clarified that:
- An individual’s NIN will serve as their Tax ID.
- A company’s CAC number will serve as its Tax ID.
Oyedele assured that the system protects low-income earners who are not taxable while ensuring fairness in the financial system.
Warning: From January 2026, Nigerians without a TIN will not be able to operate bank accounts, insurance policies, or investments.
Jungle-Journalist.Com therefore advises citizens to verify or register their TIN immediately to avoid sanctions and disruptions.