If you own a bank account in Nigeria, you’ll soon need a Tax Identification Number (TIN) to operate it. This new requirement comes into effect on January 1, 2026, as mandated by the Nigeria Tax Administration Act, 2025. This represents a major shift in the country’s tax administration and has significant implications for all individuals with a bank account in Nigeria.
However, obtaining a Tax ID is now a straightforward process that can be completed for free. For many people, a Tax ID may have already been generated based on your Bank Verification Number (BVN) or National Identification Number (NIN).
Step-by-Step Guide to Getting Your Tax ID
The process is designed to be simple and accessible, ensuring you can comply with the new law without a hassle.
Step 1: Verify if you already have a Tax ID
Visit the official Joint Tax Board (JTB) TIN Verification Portal at https://tin.jtb.gov.ng.
Select the “Search for TIN” option.
Enter your BVN and Date of Birth to check if a Tax ID has been automatically assigned to you.
Step 2: Register for a new Tax ID (if you don’t have one)
If your search on the verification portal does not yield a result, you will need to register for a new Tax ID.
Go to the JTB TIN Registration Portal by following this link
Select the “Register for TIN” option for individuals.
Fill out the required information, including your BVN, NIN, and other personal details.
Submit the form and follow the instructions to get your Tax ID certificate.
The entire process is free of charge. You can download and print your Tax ID certificate once it is issued. It is highly recommended to complete this process well before the January 2026 deadline to ensure uninterrupted access to your banking and financial services.
Understanding the New Tax Law
The Nigeria Tax Administration Act, 2025, recently signed into law by President Bola Tinubu, is a key part of a broader government plan to reform the nation’s financial system. The legislation extends far beyond traditional banking and is designed to create a more transparent and accountable financial landscape.
Section 8(2) of the Act states, “A person engaged in banking, insurance, stock-broking, or other financial services in Nigeria shall ensure that every taxable person provides a Tax ID.” This means you must have a valid Tax identification number to use services like bank accounts, insurance policies, or stock brokering.
This new requirement also applies to non-residents. Under Section 6(1), “A non-resident person that supplies taxable goods or services to any person in Nigeria, or derives income from Nigeria shall register for tax purposes and obtain a Tax ID.”
To ensure widespread compliance, Section 7(3) of the Act empowers tax authorities to automatically assign a Tax identification to individuals or entities who fail to register.
For businesses that temporarily stop operating in Nigeria, the law allows them to suspend or deregister their ID.
The Act states, “Where a taxable person temporarily ceases to carry on a trade or business in Nigeria, the taxable person shall notify the relevant tax authority of its intention to suspend its registration for tax purposes within 30 days of such temporary cessation of trade or business.”
Expert Insight and Clarifications
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, provided crucial clarification on the new law to address public concerns.
In a statement on his official X page (formerly Twitter), he explained that while the Nigeria Tax Administration Act (NTAA) mandates the use of a Tax identification for certain transactions, there are safeguards in place to protect citizens.
Oyedele noted that this is not a new policy, but an enforcement of existing rules that have been in place since the Finance Act of 2019. To simplify the process, your NIN (for individuals) and CAC registration number (for companies) will ultimately serve as your Tax ID. This ensures “fairness so that everyone who earns taxable income contributes their share while protecting low-income citizens who are not taxable.”
Without a Tax ID, a taxable person may not be able to operate bank accounts, insurance policies, or investment accounts, and sanctions will apply.
By Ifeoluwa Adebayo
