Fed Govt clears air over confusion regarding Tax ID number and Bank accounts
Fed Govt clears air over confusion regarding Tax ID number and Bank accounts
The Federal Government has taken steps to ease public concerns following reports that every Nigerian would be required to obtain a Tax Identification Number (Tax ID) to open or maintain a bank account.
Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, clarified that the requirement only applies to individuals and businesses with taxable income — not to ordinary citizens who do not fall within the tax bracket.
In a statement shared on his official X account, Oyedele explained that the newly enacted Nigeria Tax Administration Act (NTAA) merely consolidates existing regulations and does not place any new burden on low-income Nigerians.
“Banks and financial institutions are required to request a Tax ID from taxable persons. However, individuals who do not earn income and are not taxable are not required to obtain one,” he stated.
The NTAA builds on provisions introduced in the Finance Act of 2019, which mandated businesses to provide a Tax Identification Number (TIN) when opening bank accounts.
According to Oyedele, the new law streamlines the system by replacing multiple identifiers with a single, unified Tax ID aimed at eliminating duplication and loopholes.
Under the NTAA, an individual’s National Identification Number (NIN) or a company’s Corporate Affairs Commission (CAC) registration number will now serve as their Tax ID. Existing TINs remain valid, and new Tax IDs can be obtained either online or at designated tax offices at no cost.
“The Tax ID is not a physical card but a unique number linked to your identity. Nigerians should avoid touts or unofficial agents claiming to issue Tax ID cards,” he cautioned.
The law also extends to non-resident companies operating in Nigeria, as well as government-owned businesses and agencies. Nigerians living abroad can also use their NIN to obtain a Tax ID for banking or investment purposes.
Beginning January 1, 2026, taxable individuals who fail to register may face restrictions on accessing financial services such as bank accounts, insurance, pensions, or investment platforms. Non-compliance will also attract penalties under the NTAA.
Oyedele underscored that the reforms are intended to simplify identification, curb tax evasion, and ensure a fairer system.
“For most ordinary Nigerians, there is no extra burden because their NIN or CAC number will serve as their Tax ID.
The goal is to ensure that those who earn taxable income contribute their fair share while low-income citizens remain protected,” he said.
The Committee urged the public to rely only on official government platforms for accurate information about the tax reforms, warning against misinformation and fraudulent intermediaries.
The Federal Government says the streamlined system is designed to boost compliance and transparency, while shielding non-taxable citizens from unnecessary red tape.
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JUST IN; Oyo Governor, Makinde names Olubadan as Chairman Oyo Council of Obas
JUST IN; Oyo Governor, Makinde names Olubadan as Chairman Oyo Council of Obas
Oyo State Governor, Seyi Makinde, has inaugurated the Oyo State Council of Obas and Chiefs, declaring that the Olubadan of Ibadan, Oba Rashidi Ladoja, will be heading the council for a period of 2 years.
The declaration follows the passing of the Oyo State Council of Obas and Chiefs (Further Amendments) Bill, 2025, by the state House of Assembly, and the signing of the same into law by the governor.
Recall that the lawmakers had amended Clause 5 of Section 28 of the Chieftaincy Law to make the Council chairmanship rotational among the Alaafin of Oyo, the Soun of Ogbomoso, and the Olubadan of Ibadanland.
While inaugurating the Council, Governor Makinde said he had consulted with the trio of the Alaafin, the Olubadan and the Soun, with the three of them reaching a consensus that the chairmanship should start with the Olubadan of Ibadanland, His Imperial Majesty Oba Rashidi Ladoja.
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NPF committed to community policing, says IGP Egbetokun
NPF committed to community policing, says IGP Egbetokun
The Inspector General of Police (I-GP), Dr Kayode Egbetokun, has assured that the police remained committed to community policing to ensure that criminals were drastically reduced in the country.
The I-GP, who was represented by the Assistant Inspector of Police ( AIG) Zone 17, Dr Ajani Musibau, stated this at the Police Community Relations Committee ( PCRC) National Leadership Training and Conference on Thursday in Akure.
The theme of the conference is: “Inclusivity and Diversity: the New Leadership Paradigm.”
He said that security could not be achieved by only the police, but with the support from the community.
The I-GP stated that security was a joint work and responsibility of all, commending the current leadership of the Nigeria Police for a paradigm shift towards modern policing.
Also, the Commissioner of Police in Ondo State, Mr Adebowale Lawal, said that bandits could not infiltrate the state due to community policing strategy embraced by the command.
He explained that bandits would have infiltrated the state through Kogi and Edo, but intelligence reports from members of PCRC had been a great help to the police command.
According to him, the support and logistics received from the Inspector General of Police, Dr Kayode Egbetokun and Gov. Lucky Aiyedatiwa had also motivated police personnel to work earnestly.
He said that effective community policing was a sure way to curb activities of criminals, and implored members of the public not to relent in their efforts to provide police and other security agencies with useful information.
Lawal also commended other conventional security agencies, forest guards and vigilantes for their support to the police in fighting bandits
In his remarks, the National Chairman of PCRC, Alhaji Ibrahim Mogaji said that the conference was to strengthen leaders of PCRC in the South-West zone and encourage them to redouble their efforts and support in fighting crimes.
According to Mogaji, the occasion also enabled the association to appreciate Gov. Aiyedatiwa, I-GP, the AIG Zone 17 and the state Commissioner of Police.
He advised the participants to moblise other members of PCRC and orientate them on their roles to continue to fight crime in the country.
The PCRC national chairman asked Nigerians to respect the dignity of police and to be civil when interacting with them.
Mogaji said that the leadership training would be replicated in other geo-political zones of the country.
Also, Aiyedatiwa, represented by his Senior Special Assistant on Security, Mr Gbenga Atiba, commended the PCRC , AIG Zone 17, and the Commissioner of Police for their unrelenting efforts to guarantee peace across the state.
Aiyedatiwa promised that the state government would give PCRC attention and continue to support police and other security agencies with appropriate logistics that would make policing more effective.
A guest lecturer, Comrade Yinka Folarin asked members of the public to give respect and dignity to members of the police, saying that they also had rights that must be respected.
The News Agency of Nigeria (NAN) reports that PCRC honoured Gov. Aiyedatiwa, AIG Zone 17 and the Commissioner of Police with awards. (NAN)
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Increase salary, welfare packages for Police other security personnel – FG told
Increase salary, welfare packages for Police other security personnel – FG told
Peoples Democratic Party (PDP) has called for improved welfare packages for armed forces personnel and all members of the security and intelligence community to aid their effectiveness and efficiency.
National Chairman of PDP, Tanimu Turaki, made the call in a statement in Abuja on Thursday to mark the 2026 Armed Forces Celebration and Remembrance Day.
Turaki also urged the Federal Government to adequately fund security agencies to effectively neutralise those he described as agents of insecurity, and restore peace to the country.
He expressed PDP’s condolences to the families of members of the armed forces who died in active service while executing their mandate of protecting Nigeria’s territorial integrity and sovereignty.
“On a day like this, we acknowledge that they paid the supreme price for the continuous existence of our country.
“We advise all actors, whether state or non-state, not to engage in actions capable of destabilising the country.
“In honour of those who have died to keep our country safe, we pray that their deaths may not be in vain and their labours not forgotten,” Turaki said.(NAN)
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