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By Daniel Adaji
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has dismissed claims that Nigerians’ bank accounts will be frozen or automatically debited if they fail to provide a Tax Identification Number (TIN).
He insisted that the requirement is strictly for identification and applies mainly to income and business accounts, not personal savings.
Oyedele made the clarification on Friday in a post on his X handle (formerly Twitter), amid rising public anxiety over provisions in Nigeria’s new tax laws scheduled to take effect in January 2026.
The reforms require banks to request a Tax ID for certain transactions, fuelling fears of account freezes and forced deductions.
Under the explainer titled “FACT NOT FEAR (Issue #1)”, Oyedele said the widespread claims were misinformation.
“THE FEAR: Your bank account will be frozen without a Tax ID, and you will be automatically debited from January 2026,” he wrote.
“THE FACT: Tax ID (TIN) is ONLY required for income or business accounts. This is for identification and data harmonization, NOT automatic debit or freezing personal accounts.
This provision is not new; it has existed since January 2020,” he stated.
He added: “Don’t panic! The Tax ID requirement is for ease of administration, not punishment, and applies primarily to business accounts.”
Oyedele also urged Nigerians to interrogate alarming claims about the reforms, saying, “Evidence beats emotion. If they make a claim, ask them: ‘Where is it in the law?’”
His clarification aligns with an earlier explanation by the Federal Inland Revenue Service (FIRS), which said Nigeria’s National Identification Number (NIN) now automatically serves as the Tax Identification Number for individual taxpayers, while Corporate Affairs Commission (CAC) registration numbers have replaced separate TINs for registered businesses.
The FIRS said the clarification followed growing public concern over provisions in the new tax framework that mandate the use of a Tax ID for specific transactions, including the ownership and operation of bank accounts. The policy, it explained during a public awareness campaign on Monday, is anchored in the Nigeria Tax Administration Act (NTAA), scheduled to take effect in January 2026.
However, the Service stressed that the Tax ID requirement is not new, noting that similar provisions have existed since the Finance Act of 2019 but are now being strengthened and streamlined under the NTAA.
“The Tax ID unifies all Tax Identification Numbers previously issued by the FIRS and State Internal Revenue Services into a single identifier,” the Service said.
According to the agency, for individuals, the NIN issued by the National Identity Management Commission automatically functions as the Tax ID, while for registered companies, the CAC RC number serves the same purpose. Taxpayers, it added, will no longer need a separate physical TIN card, as the identifier is digitally linked to their identity.
The FIRS said the reform is designed to simplify taxpayer identification, eliminate duplication across federal and state tax systems, close loopholes used for tax evasion, and improve fairness by ensuring that all individuals and businesses earning taxable income are properly captured.
The renewed clarification comes amid heightened debate after Oyedele disclosed that banks would be required to request a TIN from all taxable Nigerians as part of the new tax administration framework effective January 1, 2026.
In response, the FIRS urged Nigerians to disregard false claims, assuring that the reforms are aimed at efficiency, transparency and compliance, not new identification burdens.
Beyond the immediate controversy, Oyedele has repeatedly pointed to Nigeria’s narrow tax base as a central challenge to fiscal sustainability. He said the country has fewer than 10 million active individual taxpayers nationwide, more than a decade after repeated warnings.