The Federal Government has announced that, effective January 1, 2026, Nigerians and non-residents will not be able to open or operate any bank account without a Tax Identification Number (Tax ID).
The new policy, issued under the Nigeria Tax Administration Act 2025, is aimed at expanding the country’s tax net, improving compliance, and enhancing revenue collection.
Financial institutions across the country have been directed to update their systems to ensure full compliance ahead of the deadline.