- The JTB has confirmed that Nigerians without a Tax ID will still be able to access and use their bank accounts beyond January 1, 2026
- This clarification follows concerns over new tax laws, which led to reports suggesting that Tax IDs would become mandatory for financial transactions
- The JTB assured the public that a new system will automatically generate Tax IDs using NINs and RC numbers without disrupting banking access
Legit.ng journalist Victor Enengedi has over a decade’s experience covering Energy, MSMEs, Technology, Banking and the Economy.
The Joint Tax Board (JTB) has clarified that Nigerians who do not have a Tax Identification Number (Tax ID or TIN) will still be able to access and operate their bank accounts beyond January 1, 2026.
This clarification comes amid public concerns sparked by the recent signing of four new tax laws by President Bola Tinubu, which are scheduled to take effect from the beginning of 2026.
Reports had suggested that under the new Tax Administration Act, having a Tax ID would become a requirement for conducting banking and financial transactions—prompting the JTB to address the issue.
Nigerians can continue banking without Tax ID
In a statement released by its Head of Corporate Communications, Akpe Adoh, the JTB dismissed these claims, stating that recent reports implying that Nigerians without a Tax ID will be blocked from using their bank accounts or engaging in financial transactions from January 1, 2026, are inaccurate.
According to The Sun, the Board reassured citizens that the new tax regulations would not disrupt access to financial services.
The board stated:
“Nigerians are hereby assured that they will continue to have access to their bank accounts and also continue to carry out financial transactions even beyond January 1, 2026.”
As part of ongoing tax reforms under the Tinubu administration, the government aims to simplify the tax system, eliminate overlapping taxes, provide relief to small businesses and vulnerable groups, and ultimately reduce the tax burden for most Nigerians.
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To make tax compliance easier, the JTB, in partnership with the Federal Inland Revenue Service (FIRS) and state revenue agencies, is rolling out a unified National Tax Identification framework.
Under this system, individuals will be assigned Tax IDs automatically using their National Identification Number (NIN), while businesses will use their Corporate Affairs Commission registration numbers (RC numbers).
This new approach is designed to streamline the tax registration process and ensure that financial activities can continue smoothly, without unnecessary barriers.
The Board reiterated its commitment to implementing tax policies that support economic development, fairness, and ease of doing business, while fostering a tax-friendly environment across the country.
Nine key tax reforms officially signed into law
In related news, Legit.ng earlier reported that President Tinubu formally approved a series of important tax reform bills.
Among the legislation enacted were four pivotal bills: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.
These new laws are designed to overhaul Nigeria’s taxation framework, replacing the outdated system that has been largely unchanged since the era of military rule.
