₦airaland Forum

The Federal Government has established a definitive timeline for stricter tax compliance, mandating that banks require a Tax Identification Number (TIN) from all taxable Nigerians maintaining bank accounts beginning January 1, 2026.

Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, disclosed the regulatory overhaul in a recent interview shared on his X account on Thursday. The move is central to the government’s new tax administration framework aimed at expanding the national tax net.


Oyedele clarified that the enforcement is backed by Section 4 of the Nigerian Tax Administration Act (NTAA), which is set to take effect on the stipulated date. This provision legally requires a taxable person to register and obtain a TIN.

“A taxable person is anyone who earns income through trade, business, or any economic activity. So banks must request a tax ID from taxable persons,” Oyedele stated.

The Chairman was keen to address public concerns by outlining key exemptions. The mandatory TIN requirement will not apply to non-income earners, such as students and dependents, who will be exempted from needing a TIN to operate bank accounts.


He[b] warned that any taxable entity operating without a valid TIN may face restrictions in running their bank accounts in the near future. Mr. Oyedele added that individuals and businesses who have already been issued TINs will not need to re-register for a new one.
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The policy, according to the Presidential Committee Chairman, is not entirely new, having been introduced via the 2020 Finance Act. However, the new Nigerian Tax Administration Act provides the formal legal backing necessary for comprehensive enforcement across the banking sector starting in 2026.

thisisit:
GOD WILL CLOTHE OYEDELE AND TINUBU WITH ETERNAL SHAME

Dogalmighty17:
Imagine! Government that hasn't in anyway contributed to my life now wants to dip its hands into my bank account? Am I the one who pushed Amoda into cocaine?

Burob:
Tax Dodger, u can remain un employed, just so to evade paying tax.

Make u maintain your lean savings account, this directive is for current account holders.

Burob:
Because of 50 Naira removal from your bank account, na em u dey wail like this?

Pure water money, chai.

samomoli:
When it comes to policies to extort the people. He is fast to implement it , but when it's the welfare of the people they will be dragging feet.

Where is the benefits of subsidy removal

anonimi:
The eyesore on Bourdillon Road
2nd January 2025

Beyond his neighbours, there is something about the sight of people hanging around a president’s residence that does not speak well of his leadership capabilities. Maybe no one has nudged him to see it, but the impression that spectacle on Bourdillon Road generates is that Tinubu enjoys the sight of suffering humans and thrives in—and through— their poverty.

If all these years, impoverished people hang around you and you remain comfortable enough to keep them just so they can be handed tokens of your large heart, then it means you have a pro-poverty mindset. Such a frame of mind is oriented toward cultivating poverty rather than stimulating abundance.

That is why he could unproblematically relate the story of his “friend” who went from using five Rolls Royce to a far-less valued car and not consider the import of the nonsense he was saying. That spurious account was an indication that this is a man for whom poverty—of others, not himself—is an ideal.

https://punchng.com/the-eyesore-on-bourdillon-road/

Shawarmagirl:
Useless and disgraceful country

Win12345:
APC want to finish Nigerians. What is benefit of fuel subsidy and other subsidies removal? If my salary reduce because of your so called tax na God will deal painfully with you guys.