• Latest
  • Trending

No Separate TIN Required to Operate Bank Accounts, FIRS Clarifies

September 14, 2025

Police rescues woman who tried to report sun at station

October 28, 2025

Ogun FRSC Spokesperson, Florence Okpe, Dies After Prolonged Illness

October 28, 2025

The Imperatives of Fresh Water Provisions and Conservation in the Socio- Economic Development of Nigeria

October 28, 2025

Nigeria’s Economy on Firm Growth Path

October 28, 2025

FG to expand cash transfer beyond 15 million households — Edun

October 28, 2025

US Permanently Revokes Wole Soyinka’s Visa

October 28, 2025

North-Central APC Faults Plateau Leaders for Rejecting Governor Mutfwang’s Defection Proposal

October 28, 2025

170 foreigners apply for Nigerian citizenship – Tunji-Ojo

October 28, 2025

Putin hails successful test of Russia’s nuclear-powered missile

October 28, 2025

Lagos Ministry Rescues Mentally Distressed Woman

October 28, 2025

Kanu Refuses to Open Defence, Claims No Case Against Him in Terrorism Trial

October 28, 2025

Rivers Court Acquits 12 in Police Inspector’s Death Amid Controversy

October 28, 2025

Alassane Ouattara Declared Winner of Ivory Coast Presidential Election

October 28, 2025

Tinubu, Kessington Honoured at London’s House of Lords

October 28, 2025

Ogun State Governor Boosts Super Falcons with ₦50 Million Ahead of Crucial WAFCON Qualifier

October 28, 2025

EFCC Warns Gemstone Miners and Dealers Against Money Laundering

October 28, 2025

BDC Operators Face Dollar Scarcity Amid CBN Forex Reforms

October 28, 2025

NHIA Reaffirms Commitment to Enrollee-Centered Care

October 27, 2025

Why I chose A’Ibom for my music concert — Davido

October 27, 2025

BREAKING: Turaki submits PDP chairmanship nomination form

October 27, 2025

Yoruba Group Condemns Rumoured Coup Plot Against Tinubu

October 27, 2025

Ex-PM jailed one year over social media post

October 27, 2025

Freed Migrant Sex Offender Re-Arrested, to Be Deported

October 27, 2025

England Legend Swaps Football Glory for Life as a Courier

October 27, 2025

Girl, 5, Throws Newborn Sister From Window After Being Left Alone

October 27, 2025

Lagos State Compensates Oworo Residents in Urban Renewal Drive

October 27, 2025

Rice Prices Plunge in Lagos Markets Amid Surge in Supply

October 27, 2025

Sisters Racing Led to Fatal Crash Killing 3 North Carolina High School Football Players

October 27, 2025

Pastor Olorunfemi Deported by Canada over Fraudulent Asylum Claims

October 26, 2025

Lagos Intensifies Fight Against Gender-Based Violence

October 26, 2025
ADVERTISEMENT
  • Home
  • BREAKING NEWS
  • Tech
  • Entertainment
  • Lifestyle
  • Education
    • Sports
ValidView Network - Breaking News, Nigerian News, Nigerian newspapers, Entertainment, Videos, Sports, Business and Politics.
ADVERTISEMENT
  • Home
  • BREAKING NEWS
  • Tech
    • All
    • Apps

    A New Era Begins: Traffic Lights to Add Fourth White Signal for Autonomous Vehicles

    Nigerian Girls Triumph at 2025 Technovation Global Summit with AI Safety App

    Trump sees progress on TikTok, says will visit China

    French lawmakers urge socialmedia ban for under-15s

    The Future of Internet Connectivity in Nigeria: Opportunities and Challenges

    CBN awards OPay for financial inclusion innovation

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • CELEBRATIONS
    • Gaming
    • History and Culture
    • Movie
    • Music
    • Sports

    Ogun State Governor Boosts Super Falcons with ₦50 Million Ahead of Crucial WAFCON Qualifier

    Why I chose A’Ibom for my music concert — Davido

    England Legend Swaps Football Glory for Life as a Courier

    Ooni of Ife and Alaafin of Oyo Seal Historic Yoruba Unity Pact

    Abiodun Urges Ogun Traditional Rulers to Lead with Humility and Integrity

    FULL LIST: Osimhen, Salah make CAF 2025 African male player nominees list

  • Lifestyle
    • All
    • Health

    Tinubu, Kessington Honoured at London’s House of Lords

    NHIA Reaffirms Commitment to Enrollee-Centered Care

    Lagos Intensifies Fight Against Gender-Based Violence

    FG Doubles Health Insurance Rates, Launches One-Hour Patient Referral Code

    FG Doubles Health Insurance Rates, Launches One-Hour Patient Referral Code

    Ondo State CPS Continues Support for Children of Deceased Journalists

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Education
    • Sports
No Result
View All Result
  • Home
  • BREAKING NEWS
  • Tech
    • All
    • Apps

    A New Era Begins: Traffic Lights to Add Fourth White Signal for Autonomous Vehicles

    Nigerian Girls Triumph at 2025 Technovation Global Summit with AI Safety App

    Trump sees progress on TikTok, says will visit China

    French lawmakers urge socialmedia ban for under-15s

    The Future of Internet Connectivity in Nigeria: Opportunities and Challenges

    CBN awards OPay for financial inclusion innovation

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
  • Entertainment
    • All
    • CELEBRATIONS
    • Gaming
    • History and Culture
    • Movie
    • Music
    • Sports

    Ogun State Governor Boosts Super Falcons with ₦50 Million Ahead of Crucial WAFCON Qualifier

    Why I chose A’Ibom for my music concert — Davido

    England Legend Swaps Football Glory for Life as a Courier

    Ooni of Ife and Alaafin of Oyo Seal Historic Yoruba Unity Pact

    Abiodun Urges Ogun Traditional Rulers to Lead with Humility and Integrity

    FULL LIST: Osimhen, Salah make CAF 2025 African male player nominees list

  • Lifestyle
    • All
    • Health

    Tinubu, Kessington Honoured at London’s House of Lords

    NHIA Reaffirms Commitment to Enrollee-Centered Care

    Lagos Intensifies Fight Against Gender-Based Violence

    FG Doubles Health Insurance Rates, Launches One-Hour Patient Referral Code

    FG Doubles Health Insurance Rates, Launches One-Hour Patient Referral Code

    Ondo State CPS Continues Support for Children of Deceased Journalists

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Education
    • Sports
No Result
View All Result
ValidView Network - Breaking News, Nigerian News, Nigerian newspapers, Entertainment, Videos, Sports, Business and Politics.
No Result
View All Result

No Separate TIN Required to Operate Bank Accounts, FIRS Clarifies

ValidViewNetwork by ValidViewNetwork
September 14, 2025
in News
0 0
0
Home News
ADVERTISEMENT
0
SHARES
358
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT
Spread the love

No separate Tax Identification Number (TIN) is required for Nigerians to open or operate bank accounts, the Federal Inland Revenue Service (FIRS) has clarified. The new tax framework, effective under the Nigeria Tax Administration Act 2025, integrates the TIN with existing national identifiers, such as the National Identification Number (NIN) for individuals and the Corporate Affairs Commission (CAC) registration numbers for businesses. This integrated system means that presenting a NIN or CAC number during banking processes automatically links the individual or entity to their TIN, removing the need for a separate tax ID presentation or application.

The clarification was issued to dispel public fears triggered by media reports suggesting that from January 2026, Nigerians would be required to present a separate TIN to access banking services. FIRS Technical Assistant on Broadcast Media, Arabinrin Aderonke Atoyebi, explained that the TIN is a 13-digit number uniquely identifying taxable persons and entities in Nigeria. It encodes details including issuance year, registry source (NIN or RC number), state of registration, and security elements. The new tax system automatically retrieves the TIN during Know Your Customer (KYC) procedures, ensuring easy tax compliance without additional bureaucracy.

The framework benefits citizens and businesses by promoting seamless banking access, reducing fraud, enhancing regulatory compliance through a single reliable source for identification, and supporting financial inclusion. For entities such as cooperatives, partnerships, and professional bodies, the TIN is similarly linked to their legal registry numbers, facilitating transparent identification for tax and compliance purposes. Citizens are reassured that owning or operating a bank account requires no extra documentation beyond the NIN or CAC details, with the system managing the integration seamlessly behind the scenes.

Advertisement. Scroll to continue reading.
ADVERTISEMENT
ADVERTISEMENT

The FIRS and the Presidential Fiscal Policy and Tax Reforms Committee emphasized that the policy targets taxable persons for compliance, not ordinary citizens without taxable income. Thus, Nigerians who provide their NIN during bank account openings are already tax-compliant, and the new law reduces duplication and loopholes while ensuring fairness and transparency in the tax system.

This comprehensive clarification aims to calm public concerns and misinformation while highlighting the modernization of Nigeria’s tax administration as a step toward a digital, inclusive, and fraud-resistant economy.

Do you want to share a story with us?
Do you want to advertise with us?
Do you need publicity for a product, service, or event?
Contact us on WhatsApp +2348033617468, +234 816 612 1513, +234 703 010 7174
or Email: validviewnetwork@gmail.com
CLICK TO JOIN OUR WHATSAPP GROUP
ADVERTISEMENT
Previous Post

Mum Welcomes 13-Pound Baby, One of the Largest Newborns in Recent History

Next Post

Labour Party, Obidient Movement Join ADC in Lagos as Coalition Strengthens Ahead of 2027

ValidViewNetwork

ValidViewNetwork

Next Post

Labour Party, Obidient Movement Join ADC in Lagos as Coalition Strengthens Ahead of 2027

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Get the latest news from ValidViewNetwork
Loading

SPONSORED ADVERT

SPONSORED ADVERT

As the Lord liveth, you are feeling bushing this 6th month better and stronger than the way you started it in Jesus Mighty Name. Our angels of good news shall locate us this month. Shalom!

  • Home
  • BREAKING NEWS
  • Tech
  • Entertainment
  • Lifestyle
  • Education

© 2022 ValidViewNetwork - Website Developed by HaybeeMultimedia.

No Result
View All Result

© 2022 ValidViewNetwork - Website Developed by HaybeeMultimedia.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist