Will Banks Block Accounts Without TIN In 2026? What Nigerians Need to Know

There have been growing questions and concerns among Nigerians about whether bank accounts without a Taxpayer Identification Number (TIN) will be blocked from January 2026.

From January 1, 2026, all Nigerians who are required to pay tax, both individuals and businesses must have a Taxpayer Identification Number (TIN) to properly operate a bank account. However, the Federal Inland Revenue Service (FIRS) has clarified that there is no need to apply for a separate or physical TIN card, as the system has already been integrated with existing national databases.

Despite this clarification, many Nigerians remain confused about what the policy means for banking, businesses, and daily financial activities. This confusion has been worsened by social media rumours suggesting that bank accounts without linked TINs will be blocked before January.

While banks are expected to begin requesting customers especially taxable persons to link their tax IDs to their accounts, the claim that accounts will be automatically blocked immediately is misleading.

To explain the policy, Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, addressed the issue in a recent interview shared on his social media page. According to him, having a TIN will indeed be mandatory for taxable persons operating bank accounts in Nigeria from 2026, but important exemptions apply.

As Oyedele explained:

“Section 4 of the NTAA states that all taxable persons are required to register and obtain a tax identification number (Tax ID). A taxable person refers to anyone who earns income from trade, business, or any form of economic activity.

As a result, banks are required to request a Tax ID from individuals who fall into this category. This means that people who do not earn income such as students or dependents are not required to have a Tax ID.

He added that the policy is not entirely new. The requirement has existed since the Finance Act of 2020, which amended Section 49 of the Personal Income Tax Act. Since then, anyone operating a bank account for business purposes has been expected to have a TIN.

When asked what would happen to taxable individuals or businesses that fail to link their bank accounts with a TIN by January 1, 2026, Oyedele warned of possible restrictions in the future.

Any taxable person who does not have a Tax Identification Number may face difficulties operating their bank account in the future.

He also addressed widespread fears by clearly outlining exemptions. The compulsory TIN requirement does not apply to people who do not earn income, such as students and dependents, who can continue operating their bank accounts without a TIN.

“But this exemption does not apply to individuals who earn income from investments or business,” Oyedele said.

Oyedele further dismissed claims that the government plans to secretly remove money from people’s bank accounts, stressing that the policy is focused on improving tax compliance, not penalising innocent citizens.

In June 2025, President Bola Ahmed Tinubu signed four major tax reform bills into law, collectively known as the Nigerian Tax Reform Acts. These laws were designed to streamline Nigeria’s tax system, harmonise existing tax laws, strengthen tax administration, and make it easier to do business in the country.

In summary, bank accounts belonging to taxable individuals and businesses will eventually require a linked TIN, but accounts belonging to non-income earners are exempt. Nigerians are advised to seek accurate information and avoid panic caused by unverified social media claims.