The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has announced that banks will be required to request a Tax Identification Number (TIN) from all taxable Nigerians under the federal government’s new tax administration framework, which will take effect on January 1, 2026.
Oyedele disclosed this in an interview shared on his X account on Thursday, emphasizing that the move is aimed at improving tax compliance and expanding the country’s tax net.
He clarified that the initiative is not intended to introduce new taxes but to ensure proper documentation of taxable individuals, making it easier for the Federal Inland Revenue Service (FIRS) to monitor tax payments and curb evasion.
According to Oyedele, the requirement aligns with global best practices in taxation and is part of ongoing efforts to modernize Nigeria’s tax system. He assured Nigerians that the process of obtaining a TIN would be simplified ahead of the 2026 rollout, with digital platforms and support centers set up to assist taxpayers.
The reform is expected to strengthen revenue generation while promoting transparency in financial transactions, ensuring that those obligated to pay taxes do so efficiently.
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