The Federal Inland Revenue Service (FIRS) has clarified recent reports suggesting that Nigerians without a Tax Identification Number (TIN) would not be able to open or operate bank accounts.
In a Friday statement, signed by Iniobong Irene, the FIRS Public Relations Officer, the agency has described such claims as misleading, assuring citizens that their existing identification systems are already linked to the national tax database.
According to FIRS, Nigerians do not need to present a separate tax identification card or number before accessing banking services. Instead, the country’s tax system has been restructured to work seamlessly with existing identification platforms like the National Identification Number (NIN), Bank Verification Number (BVN), and Corporate Affairs Commission (CAC) records.
For individuals, the TIN is automatically generated and tied to their NIN. Businesses are covered through their RC Numbers from CAC, while cooperatives, professional bodies, and other organisations also have their TINs linked to their official registries.
When a customer presents a NIN (or RC Number in the case of a company) at the bank, the system cross-checks the database and retrieves their TIN in real time. This means there is no need for citizens or businesses to go through additional processes to obtain a TIN before they can access banking services.
The updated system comes with several advantages:
Seamless banking: Accounts can be opened with NIN or BVN without extra paperwork.
Fraud prevention: By eliminating duplicate or fake identities, the risk of financial fraud is reduced.
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Trust and compliance: Banks and regulators have a single, verified source of information.
Inclusive coverage: The system accommodates not just individuals and companies but also partnerships, cooperatives, and professional associations.
Global alignment: Nigeria’s tax framework is now better connected with international financial and compliance standards.
Arabinrin Aderonke Atoyebi, Technical Assistant to the FIRS Executive Chairman, has emphasised that this is not an additional burden but rather a gateway to financial inclusion and transparency.
She said, “Nigerians should view the new structure as an opportunity for smoother transactions within the country’s digital economy.
She added, “Nigerians do not need to worry about applying for or carrying a separate tax ID card before opening or running a bank account. Presenting a NIN or BVN is enough, as the TIN is automatically integrated in the background.
“In simple terms: Your NIN already makes you tax-compliant.”
