The Federal Inland Revenue Service (FIRS) has rejected the claim that Nigerians without Tax Identification Numbers (TINs) cannot open or run bank accounts.
Arabinrin Aderonke Atoyebi, media aide to FIRS executive chairman Zacch Adedeji, said the country’s tax framework has been restructured. She explained it now integrates with existing national registries to identify taxpayers automatically without creating new hurdles.
She said, “The Tax Identification Number is a 13-digit unique code assigned to all taxable persons and entities in Nigeria.”
According to her, the TIN encodes details such as the issuance year, registry source, state of registration, and a security fragment. “Far from being a separate requirement, the TIN functions as a statutory tool that enables the FIRS to uniquely verify taxpayers across the country.”
For individuals, the TIN is linked directly to the National Identification Number (NIN) issued by the National Identity Management Commission (NIMC).
How the System Works
Atoyebi explained that when people use their NIN to open a bank account, the system retrieves their TIN in real time.
She added, “For businesses, the TIN is tied to the RC Number from the Corporate Affairs Commission (CAC). Partnerships, cooperatives, and professional associations also have their TINs linked to their recognised registries.”
This design means that neither citizens nor businesses need to apply separately for a tax ID before using banking services.
Benefits of the Framework
According to Atoyebi, the system brings wide benefits. “Seamless Banking: Citizens can open accounts with their NIN or RC Number, while the TIN is integrated automatically.”
She also said fraud prevention is stronger since duplicate and false identities are reduced. Banks and regulators can now depend on a verified source for KYC checks and reporting.
“Inclusivity: Coverage extends beyond individuals and companies to associations and trustees. Global linkages: The system is designed to interact with international financial and compliance platforms.”
No Barrier to Accounts
Atoyebi stressed that fears about Nigerians being denied accounts without a tax ID are unfounded.
“By embedding TINs into existing national databases, the system guarantees automatic compliance. In practice, anyone presenting their NIN at a bank is already tax-compliant—the bank retrieves the TIN during onboarding.”
Rather than a roadblock, she described the TIN framework as a gateway to financial inclusion, transparency, and global compatibility in Nigeria’s fast-changing digital economy.
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