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 BVN, NIN enough for banking, FIRS debunks report of mandatory TIN requirement 

Aminu Danladi by Aminu Danladi
September 14, 2025
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The Federal Inland Revenue Service (FIRS) has debunked reports suggesting that Nigerians without a Tax Identification Number (TIN) cannot open or operate bank accounts, describing such claims as misleading.

Arabinrin Aderonke Atoyebi, Technical Assistant on Broadcast Media to the FIRS Executive Chairman, Zacch Adedeji, clarified that the nation’s tax administration framework has been restructured to integrate seamlessly with existing national databases, according to Ireporter Online, 

 She explained that this approach ensures every individual and entity is automatically identifiable for tax purposes without the need for fresh or separate applications.

Atoyebi noted that the TIN is a 13-digit unique code assigned to all taxable persons and organizations in Nigeria, encoding information such as the year of issuance, registry source—whether the National Identification Number (NIN) for individuals or the RC Number for corporate bodies—state of registration, and a security feature. She emphasized that the TIN is not a new hurdle but a statutory tool that enables FIRS to verify taxpayers nationwide.

She further disclosed that, for individuals, the TIN is automatically linked to their NIN issued by the National Identity Management Commission (NIMC). This means that when customers provide their NIN for banking or Know Your Customer (KYC) checks, the system automatically cross-checks the database and retrieves their TIN in real time.

 For businesses, the TIN is tied to the RC Number issued by the Corporate Affairs Commission (CAC), while partnerships, cooperatives, and professional bodies have their TINs linked to their respective recognized registries.

Highlighting the benefits of the new framework, Atoyebi pointed out that it enables seamless banking since citizens can open accounts with their NIN or RC Number while the TIN is automatically integrated.

 She added that the system reduces fraud by eliminating duplicate or false identities, builds regulatory confidence by providing banks and regulators with a single verified source for compliance checks, ensures inclusivity by covering entities beyond individuals and companies, and strengthens global linkages by aligning Nigeria’s tax framework with international financial and compliance platforms.

While addressing misconceptions, Atoyebi stressed that Nigerians do not need to present a separate tax ID before opening or operating bank accounts. By embedding TINs into existing national databases, she said, the system guarantees automatic compliance.

 In her words, anyone presenting a NIN at a bank is already tax-compliant, as the TIN is automatically retrieved during onboarding. She described the framework not as a barrier, but as a gateway to financial inclusion, transparency, and global compatibility within Nigeria’s evolving digital economy.

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