The Federal Inland Revenue Service (FIRS) has officially announced that individuals and businesses no longer need a separate Tax Identification Number (TIN) to open or operate bank accounts in Nigeria.
This clarification comes from Arabinrin Aderonke Atoyebi, the Technical Assistant on Broadcast Media to the FIRS Executive Chairman, Zacch Adedeji.
Bank Account as TIN is the Federal Government has approved the use of the National Identification Number (NIN) as the unique identifiers for taxpayers. Automatic TIN Generation is with this approval, anytime a person uses their NIN for transactions, especially with banks, the system will automatically generate their TIN. This eliminates the need for a separate, manual application process. Rationale - Data Integration is the move is part of a broader strategy to harmonize citizen data across government agencies. By leveraging the existing databases of the National Identity Management Commission (NIMC) and the Nigerian Interbank Settlement System (NIBSS), the FIRS aims to streamline tax administration, expand the tax net, and improve efficiency.
Ease of Doing Business is the primary goal is to reduce the bureaucratic hurdles for both individuals and businesses, making it easier to comply with tax obligations seamlessly.
This policy shift represents a significant and positive development in Nigeria's tax administration and digital governance. Reduced Red Tape removes a major pain point for millions of Nigerians and businesses, simplifying the process of banking and tax compliance. Automatic Tax Net Expansion is by linking NIN to TIN, the FIRS can automatically bring more individuals into the tax system. Anyone with a bank account an NIN is now effectively a registered taxpayer. Data-Driven Efficiency promotes synergy between key government agencies (FIRS, NIMC) and the financial sector, reducing duplication of efforts and creating a more robust and reliable national database. Improved Compliance is the ease of registration is expected to lead to higher voluntary tax compliance, as the barrier to entry is significantly lowered.
In essence, the news confirms that your NIN is now functionally your TIN. The separate TIN slip that was previously required is being phased out in favor of this integrated, digital approach.
This policy was announced via official FIRS communication channels, attributed to the Chairman's office through his media aide, Arabinrin Aderonke Atoyebi. You can typically find the original press release on the FIRS official website or social
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