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No Need For Separate TIN To Operate Bank Accounts FIRS Official
By Aderonke Atoyebi
In recent debates about Nigeria’s tax reforms, a widespread misconception has emerged: that citizens without a Tax Identification Number are unable to own or operate a bank account. This view, while popular in some quarters, is inaccurate.
The reality is that Nigeria’s tax system has evolved to integrate seamlessly with existing national registries, ensuring that every eligible individual or entity is automatically identifiable for tax purposes.
This article clarifies how the new framework works, drawing from the Federal Inland Revenue Service’s implementation of the National Taxpayer Directory under the Nigeria Tax Administration Act (2025).
The Tax Identification Number is a 13-digit unique identifier for all taxable persons and entities in Nigeria. It encodes details such as issuance year, registry source (NIN for individuals, RC for corporates), state of registration, and a cryptographic fragment for security, concluding with a check digit.
The TIN is not a standalone requirement imposed on citizens. Instead, it is a statutory tool that ensures every taxpayer, whether an individual, a registered business, or an association, can be uniquely verified within the national tax system.
Tax ID and the National Identity Management Commission: For individuals, the TIN is automatically linked to their National Identification Number issued by the National Identity Management Commission.
When an individual provides their NIN, such as during bank account opening or Know Your Customer processes, the system cross-checks the NIN in the national database. As part of this verification, the TIN is automatically retrieved and attached to the person’s records.
This means citizens do not need to manually apply for or present a tax ID before opening a bank account. The system handles the integration in real time.
Tax ID and the Corporate Affairs Commission: For businesses, the TIN is tied directly to the RC Number issued by the Corporate Affairs Commission. Likewise, for cooperatives, partnerships, professional bodies, and other legal entities, the TIN is connected to their respective recognised registries
This linkage ensures that corporate entities can be transparently identified for both tax and compliance purposes. Just as with individuals, banks and regulators do not require extra documentation beyond the foundational registry numbers to confirm tax status.
Exploring the benefits of a tax ID: Seamless Banking Access: Individuals and businesses can open and operate bank accounts using their NIN or RC Number, with the TIN automatically integrated behind the scenes.
Fraud reduction: The system eliminates duplicate or false identities by ensuring every taxpayer is tied to a verifiable registry.
Regulatory compliance: Banks and financial institutions can rely on a single, consent-driven source of truth for onboarding, reporting, and KYC compliance.
Inclusivity: Beyond companies, the framework extends coverage to associations, professional bodies, and trustees
Global compatibility: Nigeria’s tax system can securely interact with international systems for trade, finance, and compliance.
The misconception that Nigerians cannot own or operate a bank account without a tax ID overlooks the integrated design of the new TIN system. By linking TINs to existing foundational identifiers such as the NIN and RC Number, the system ensures automatic compliance without creating unnecessary barriers for citizens.
In practice, this means a Nigerian walking into a bank with their NIN is already tax compliant. The bank simply retrieves its TIN as part of its onboarding process. Far from being a hurdle, the TIN framework is a gateway to financial inclusion, regulatory transparency, and global interoperability in Nigeria’s evolving digital economy.
Aderonke Atoyebi is the technical assistant on broadcast media to the executive chairman of the Federal Inland Revenue Service
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From U.S. Alarm to Tinubu’s Validation
U.S. President Donald Trump’s recent decision to list Nigeria as a “Country of Particular Concern” triggered a wave of reactions across diplomatic and political circles.
While many Nigerians viewed the designation as a national embarrassment and critics seized it as evidence of deepening instability, the development has taken on a surprising twist: it has become an unintended validation of President Bola Ahmed Tinubu’s ongoing reforms.
For global observers, Trump’s warning underscored the security and governance challenges facing Africa’s largest democracy. But within Nigeria, it cast renewed attention on Tinubu’s attempts to tackle the very issues that led to the U.S. designation from terror attacks and mass kidnappings to deep rooted economic distortions.
Political analysts note that long before Trump’s statement, Tinubu had already begun overhauling Nigeria’s security and economic systems, taking steps more far-reaching than those implemented by his predecessors. Trump may have amplified global concern, but Tinubu had already moved into the repair phase.
Upon assuming office, Tinubu inherited a nation strained by years of structural decline a costly fuel subsidy regime, an opaque multi-tiered foreign exchange system, rising insecurity, and widening regional imbalances. Instead of opting for gradualism, he pursued sweeping measures aimed at resetting Nigeria’s foundations.
One of his earliest actions was an overhaul of the security architecture. Tinubu dismissed and replaced the previous service chiefs, appointed field tested commanders, strengthened joint operations, and demanded measurable results. The armed forces intensified land and air offensives, resulting in major arrests, rescue operations, and the neutralisation of terror cells. Security improvements were coupled with community-level interventions to break cycles of violence and restore economic activity in long neglected regions.
Economically, Tinubu took two of the most contentious decisions in decades: removal of petrol subsidy and unification of the exchange rate. His administration framed the decisions as necessary to end fiscal leakages and curb entrenched rent-seeking. Though the reforms generated short-term hardships, they also freed revenue for federal and state governments and signaled to investors that Nigeria was ready for structural cleanup.
In governance, Tinubu implemented what analysts describe as an equity-driven restructuring of the federation. Every geopolitical zone now has a dedicated regional development commission a move designed to institutionalise fairness and ensure balanced growth. This expansion is widely regarded as one of the administration’s most strategic long-term decisions.
Meanwhile, Nigeria is witnessing what officials describe as a new wave of infrastructure expansion. Work is underway on the multi-state Lagos–Calabar Coastal Highway, the Sokoto–Badagry Super Highway, major rail upgrades, power sector reforms, and the rehabilitation of key federal roads. Port modernization projects are also accelerating to position Nigeria as a competitive maritime hub.
International confidence appears to be responding to these reforms. Tinubu has pursued aggressive economic diplomacy, securing investment commitments from the UAE, Germany, Saudi Arabia, the United States, and leading multinationals. Government officials report that more than $30 billion in investment pledges were recorded during the administration’s first year.
The government has also launched a comprehensive tax reform effort aimed at curbing multiple taxation, expanding the tax net, and strengthening transparency a shift intended to help raise Nigeria’s historically low tax-to-GDP ratio.
As global reactions to Trump’s warning continue, Nigerian officials argue that the designation inadvertently highlights a turning point rather than a downward spiral. While the U.S. warning spotlighted Nigeria’s challenges, Tinubu’s defenders say the administration is already confronting those challenges with bold, long-term reforms.
In this framing, Trump’s alarm has become a backdrop that underscores the urgency of Tinubu’s agenda and, paradoxically, the evidence of its relevance.
Supporters of the president say the label “country of concern” is being transformed into a story of a country in recovery, driven by a leader intent on reversing years of stagnation. According to them, Tinubu’s approach prioritising difficult reforms over popular short-term fixes is precisely what positions Nigeria for renewed global confidence.
In a twist of geopolitical irony, what was meant to warn the world about Nigeria may now be drawing attention to an unfolding attempt at national renewal.
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