Mr. Biodun Oyedele, the Executive Chairman of the Federal Inland Revenue Service (FIRS), has directed that all banks operating in Nigeria are required to obtain Tax Identification Numbers (TINs) from customers who are taxable persons before offering certain banking services.
Oyedele stated this during a meeting with top executives of the Nigeria Governors’ Forum and representatives of the banking industry in Abuja. He explained that the move is part of efforts to broaden the country’s tax net and improve revenue mobilization. According to him, ensuring that taxable individuals and businesses are properly registered with the tax authority will enhance compliance and reduce revenue leakages.
“Banks are critical stakeholders in the nation’s tax architecture,” Oyedele said. “By requiring customers to present their TINs before accessing specified banking services, we will be able to harmonize tax data, reduce evasion, and ensure that everyone pays their fair share.”
Under the new measure, customers without a TIN may be restricted from performing certain high‑value transactions or opening accounts tied to taxable activities until they obtain the required tax identification. The FIRS boss emphasized that this is not intended to punish individuals but to ensure accountability and foster a culture of tax compliance.
Industry leaders at the meeting acknowledged the need for stronger tax enforcement but urged that banks be given clear guidelines and adequate time to implement the policy. They also advocated for increased collaboration between the FIRS and financial institutions to streamline the verification process and avoid inconveniencing customers.
Oyedele assured stakeholders that the FIRS will provide technical support and a grace period to facilitate smooth rollout of the tax ID requirement across the banking sector.
