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    FIRS to Nigerians: You can open bank accounts without presenting tax ID

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    By Adam Mosadioluwa

    Copyright tribuneonlineng

    FIRS to Nigerians: You can open bank accounts without presenting tax ID

    The Federal Inland Revenue Service (FIRS) has clarified that Nigerians do not need to manually apply for or present a Tax Identification Number (TIN) before opening or operating a bank account.

    In an article by Aderonke Atoyebi, the technical assistant on broadcast media to the executive chairman of FIRS, the body clarified that, contrary to widespread belief, the TIN system is already integrated with national registries, meaning that individuals and businesses are automatically tax-compliant once their foundational identity numbers are provided.

    According to her, under the new framework established by the Nigeria Tax Administration Act (2025), the TIN is linked to the National Identification Number (NIN) for individuals and the RC Number from the Corporate Affairs Commission (CAC) for businesses.

    She explained that this integration allows banks to retrieve a customer’s TIN directly during Know Your Customer (KYC) checks, without requiring additional paperwork.

    She added that the framework eliminates duplicate or false identities, improves compliance, and enhances financial inclusion by ensuring that taxpayers are automatically identified in real time.

    Atoyebi noted that the system also extends to cooperatives, professional bodies, and trustees, while aligning Nigeria’s tax structure with global standards for trade, finance, and compliance.

    She explained that with the automated process, a Nigerian presenting a NIN or a business providing its RC Number is already tax-verified at the point of banking.

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    “When an individual provides their NIN, such as during bank account opening or Know Your Customer (KYC) processes, the system cross-checks the NIN in the national database. As part of this verification, the TIN is automatically retrieved and attached to the person’s records.

    “This means citizens do not need to manually apply for or present a tax ID before opening a bank account. The system handles the integration in real time.”

    Explaining further, she said, “The misconception that Nigerians can not own or operate a bank account without a tax ID overlooks the integrated design of the new TIN system. By linking TINs to existing foundational identifiers such as the NIN and RC Number, the system ensures automatic compliance without creating unnecessary barriers for citizens.”

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