The Federal Government announced that all taxable Nigerians must obtain a Tax Identification Number (TIN) to operate bank accounts from January 1, 2026.

It was clarified that students and dependents are exempted. The requirement was confirmed under Section 4 of the Nigerian Tax Administration Act, providing legal backing for enforcement. Individuals and businesses already holding TINs will not need new ones, while banks have been instructed to verify compliance.

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