The Federal Inland Revenue Service (FIRS) has dispelled widespread reports claiming that Nigerians without a Tax Identification Number (TIN) would be barred from opening or operating bank accounts, describing such information as misleading.
In a clarification, the agency explained that Nigerians are not required to present a separate TIN before accessing banking services, as the national tax system has been fully integrated with existing identification platforms.
These include the National Identification Number (NIN), Bank Verification Number (BVN), and records of the Corporate Affairs Commission (CAC).
According to FIRS, individuals automatically have their TIN generated and linked to their NIN, while businesses are covered through their CAC Registration (RC) Numbers. Cooperatives, professional bodies, partnerships, and other organizations are also captured, with their TINs connected to their respective official registries.
The service noted that when a customer presents a NIN or, in the case of companies, an RC Number at a bank, the system automatically cross-checks the database and retrieves the corresponding TIN in real time. This eliminates the need for additional applications or paperwork before opening or operating a bank account.
FIRS highlighted several benefits of the integrated system, including seamless banking processes, improved fraud prevention through the elimination of duplicate identities, enhanced trust and regulatory compliance, and inclusive coverage for individuals, businesses, and organizations.
The framework also aligns Nigeria’s tax administration more closely with global financial and compliance standards.
Arabinrin Aderonke Atoyebi, Technical Assistant to the Executive Chairman of FIRS, emphasized that the system is not designed to impose extra burdens on citizens but to promote financial inclusion and transparency. She urged Nigerians to see the development as an opportunity for smoother transactions within the country’s growing digital economy.
The agency reassured the public that there is no need to apply for or carry a separate tax identification card to access banking services. Presenting a NIN or BVN is sufficient, as the TIN is automatically integrated in the background.
In simple terms, FIRS said, a Nigerian’s NIN already ensures tax compliance.
