The Federal Inland Revenue Service (FIRS) has confirmed that its newly implemented Tax Identification Number (TIN) framework is fully integrated with existing national databases, including the National Identification Number (NIN) for individuals and Corporate Affairs Commission (CAC) records for registered entities.
Recent speculation on social media suggested that, beginning January 2026, Nigerians would be required to present a TIN to open or maintain a bank account. However, this interpretation has been officially refuted.
According to Arabinrin Aderonke Atoyebi, Technical Assistant on Broadcast Media to the Executive Chairman of FIRS, Zacch Adedeji, these reports are misleading. In a public statement, she clarified that the current system automatically generates and links TINs to existing identifiers—NIN for individuals and RC Numbers for businesses—eliminating the need for separate TIN applications or physical presentation during banking or Know Your Customer (KYC) procedures.
The TIN is a 13-digit unique identifier that encodes key data such as:
- Year of issuance
- Registration source (NIN or RC)
- State of registration
- Cryptographic security features
- A check digit for verification
For individuals, the TIN is automatically derived from the NIN issued by the National Identity Management Commission (NIMC). When customers provide their NIN during bank account opening or KYC processes, the system validates the information against national databases and retrieves the corresponding TIN in real time.
Similarly, for companies and other legal entities—including cooperatives, professional associations, and partnerships—the TIN is directly linked to their CAC registration number or relevant statutory registry. Banks and regulatory bodies can verify tax compliance seamlessly using these existing identifiers, without requesting additional documentation.
Atoyebi further emphasized the benefits of the integrated framework, including:
- Frictionless access to financial services
- Enhanced fraud prevention
- Improved tax compliance and transparency
- Alignment with global financial and regulatory standards
She concluded by reaffirming that no Nigerian will be denied banking services due to the absence of a separately issued TIN. The automated linkage ensures built-in compliance, positioning the framework as a key driver of financial inclusion and digital economic growth.
For professional advice on Accountancy, Transfer Pricing, Tax, Assurance, Outsourcing, online accounting support, Company Registration, and CAC matters, please contact Inner Konsult Ltd at www.innerkonsult.com at Lagos, Ogun state Nigeria offices. You can also reach us via WhatsApp at +2348038460036.
