The Joint Tax Board (JTB) has reassured Nigerians that they will not lose access to their bank accounts or be prevented from carrying out financial transactions due to not having a Tax Identification Number (Tax ID).
This clarification follows reports suggesting that, from January 1, 2026, individuals without a Tax ID would be barred from banking services.
In a statement issued on Sunday, September 14, JTB dismissed the claims as false, stressing that banking operations would continue as normal.
“Nigerians are hereby assured that they will continue to have access to their bank account and also continue to carry out financial transactions even beyond January 1, 2026,” the board stated.
The JTB explained that, in line with President Bola Ahmed Tinubu’s tax reform agenda, efforts are underway to make compliance simpler, fairer, and more inclusive. Key initiatives include eliminating multiple taxation, granting exemptions to vulnerable individuals and small businesses, and ensuring lower taxes for most Nigerians.
To ease compliance, the JTB, working with the Federal Inland Revenue Service (FIRS) and state tax agencies, is building a harmonised National Tax Identification system. The system will automatically generate Tax IDs for individuals with a National Identification Number (NIN) and for businesses with a Corporate Affairs Commission registration number (RC), without affecting financial services.
“We therefore urge the public to remain calm and ignore any claims to the contrary,” the board emphasised, restating that no Nigerian will be denied access to their bank account.
The JTB said it remains committed to people-focused tax policies that support economic growth, fairness, and ease of doing business, while ensuring Nigeria stays a tax-friendly environment.