Nigerian Government to Enforce Tax Compliance with TIN Requirement for Bank Accounts

The Nigerian government is set to enforce tax compliance by mandating valid Tax Identification Numbers (TIN) for bank account holders from January 1, 2026. Taiwo Oyedele, chairman of the Presidential Committee on Fiscal Policy Tax Reform, clarified that this move is in response to public concerns and aligns with the Nigerian Tax Administration Act.

While individuals not earning income like students or dependents are exempt, taxable entities without TIN may face difficulties in operating bank accounts. Financial analysts view this as part of the government's efforts to expand the tax net and improve compliance.

Banks are expected to adjust to comply with the new regulations.