The Federal Inland Revenue Service (FIRS) has debunked claims that Nigerians must present a Tax Identification Number (TIN) to open or operate bank accounts, stating that such reports are false and misleading.
In a statement issued by Arabinrin Aderonke Atoyebi, Technical Assistant on Broadcast Media to the FIRS Executive Chairman, Zacch Adedeji, the agency clarified that Nigeria’s tax administration system has been modernized to automatically link TINs with existing national databases, such as the National Identification Number (NIN) and Corporate Affairs Commission (CAC) RC Numbers.
“Anyone presenting a NIN at a bank is already tax-compliant,” Atoyebi said. “The TIN is automatically retrieved during onboarding. There’s no need for a separate application.”
She explained that every individual and entity is assigned a unique 13-digit TIN, which contains encoded data such as the year of issuance, state of registration, and a security feature. For individuals, the TIN is directly connected to their NIN; for businesses, it is linked to their RC Number; and for other entities like cooperatives and professional bodies, it is tied to their recognized registries.
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The FIRS emphasized that this integrated framework allows banks and other financial institutions to verify a customer’s tax identity in real time, simply by using their NIN or RC Number.
According to Atoyebi, the new system brings several advantages such as simplified banking access, with no separate TIN application required; Reduced fraud, by eliminating duplicate or false identities;
Also, Improved regulatory oversight, with a single, verified database for compliance checks; Greater financial inclusion, especially for unbanked populations; and to align with global standards for digital tax and financial systems.
She stressed that the TIN is not a new bureaucratic hurdle but a behind-the-scenes compliance tool, seamlessly integrated into Nigeria’s digital identity infrastructure.
“This is not a barrier,” Atoyebi said. “It’s a gateway to financial inclusion, transparency, and international compatibility.”
