Last updated: December 2025
If you hold a bank account in Nigeria, there’s an important deadline approaching that you need to know about. Starting January 1, 2026, all Nigerian bank account holders must have a Tax Identification Number (TIN) to continue operating their accounts.
This requirement, mandated by the Nigeria Tax Administration Act 2025, represents a significant shift in the country’s financial landscape. But here’s the good news: obtaining your Tax ID is completely free and surprisingly straightforward.
What You Need to Know About the New Tax Law
The Nigeria Tax Administration Act 2025, signed into law by President Bola Ahmed Tinubu, is part of a comprehensive plan to modernize Nigeria’s financial system and create greater transparency.
Key requirement: Section 8(2) of the Act states that financial service providers must ensure every customer has a valid Tax ID for:
- Banking services
- Insurance policies
- Stock brokerage
- Other financial services
This applies to both residents and non-residents who conduct financial business in Nigeria.
Quick Check: You Might Already Have a Tax ID
Before starting the registration process, you should first check if a Tax ID has already been automatically generated for you based on your Bank Verification Number (BVN) or National Identification Number (NIN).
Many Nigerians already have a Tax ID without realizing it.
Step-by-Step Guide to Getting Your Nigerian Tax ID
Step 1: Check If You Already Have a Tax ID
- Visit the official Joint Tax Board (JTB) TIN Verification Portal at https://tin.jtb.gov.ng
- Click on “Search for TIN”
- Enter your BVN and Date of Birth
- Submit to see if a Tax ID already exists for you
Step 2: Register for a New Tax ID (If Needed)
If your search doesn’t return a Tax ID, follow these steps:
- Go to the JTB TIN Registration Portal (accessible through the same website)
- Select “Register for TIN” for individuals
- Complete the form with:
- Your BVN
- Your NIN
- Personal details as required
- Submit the form
- Follow the instructions to receive your Tax ID certificate
Important: The entire process is 100% free of charge. Once issued, you can download and print your Tax ID certificate immediately.
Expert Insights: What This Means for You
Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, clarified several important points about the new law:
This Isn’t Entirely New
The requirement builds on existing rules from the Finance Act of 2019 – this is primarily about enforcement and simplification.
Simplified System
- For individuals: Your NIN will ultimately serve as your Tax ID
- For companies: Your CAC registration number will serve as your Tax ID
Fair Implementation
The system is designed to ensure “fairness so that everyone who earns taxable income contributes their share while protecting low-income citizens who are not taxable.”
What Happens If You Don’t Comply?
Without a valid Tax ID after January 1, 2026, you may face:
- Inability to operate bank accounts
- Blocked access to insurance policies
- Restricted investment account access
- Financial sanctions
Timeline and Recommendations
Deadline: January 1, 2026
Our recommendation: Complete this process well before the deadline to ensure uninterrupted access to your banking and financial services. Don’t wait until the last minute.
Special Considerations
For Non-Residents
If you’re a non-resident who supplies goods/services to Nigeria or derives income from Nigeria, you must also register for a Tax ID under Section 6(1) of the Act.
For Businesses
Companies that temporarily cease operations in Nigeria can suspend or deregister their Tax ID by notifying the relevant tax authority within 30 days.
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Automatic Assignment
Under Section 7(3), tax authorities can automatically assign Tax IDs to individuals or entities who fail to register voluntarily.
Frequently Asked Questions
Q: Does this mean I’ll have to pay more taxes? A: Having a Tax ID doesn’t automatically increase your tax burden. It’s primarily for identification and compliance purposes.
Q: Is there any cost involved? A: No, the entire process is completely free of charge.
Q: What if I already have a Tax ID from years ago? A: Use the verification portal to confirm your existing Tax ID is still valid and active.
Q: Can I complete this process online? A: Yes, the entire process can be completed online through the official JTB portal.
Action Items: What to Do Now
- Check immediately if you already have a Tax ID using your BVN
- Register for a new Tax ID if you don’t have one
- Save and print your Tax ID certificate
- Inform your bank about your Tax ID (they may request it before the deadline)
- Mark your calendar for any follow-up requirements
Conclusion
The January 2026 Tax ID requirement represents a significant step in Nigeria’s financial modernization. While it may seem daunting, the process is designed to be user-friendly and free of charge.
By taking action now, you’ll ensure continued access to all your financial services without interruption. Remember, many people already have a Tax ID – you might just need to find it.
Don’t wait until the deadline approaches. Visit https://tin.jtb.gov.ng today and secure your compliance with Nigeria’s new tax administration requirements.
Have you successfully obtained your Nigerian Tax ID? Share your experience or ask questions in the comments below.
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