The Joint Tax Board (JTB) has dismissed claims that Nigerians without a Tax Identification Number (Tax ID) will be barred from accessing their bank accounts or financial services from January 1, 2026.
The clarification comes after a document circulated online, titled “New Tax Acts and Tax ID – What You Need to Know”, issued by the Presidential Fiscal Policy and Tax Reform Committee. The document, shared by the committee’s chairman, Taiwo Oyedele, suggested that taxable individuals without a Tax ID could face restrictions on bank accounts, insurance policies, pensions, and investment portfolios under the new tax framework.
In a statement signed by its spokesperson, Akpe E. Adoh, the JTB reassured the public that no such restriction will take effect.
“Nigerians are hereby assured that they will continue to have access to their bank accounts and financial transactions even beyond January 1, 2026,” the statement read.
The JTB explained that the ongoing tax reforms are focused on simplifying compliance, reducing multiple taxation, and ensuring a fairer and more inclusive system. According to the board, vulnerable groups and small businesses will benefit from exemptions, while most Nigerians will pay less tax under the new regime.
It further revealed that, in collaboration with the Federal Inland Revenue Service (FIRS) and state revenue agencies, a harmonised National Tax Identification system is being developed. This system will automatically generate Tax IDs using the National Identification Number (NIN) for individuals and the Corporate Affairs Commission (CAC) registration number for businesses, without disrupting banking or financial transactions.
The JTB urged Nigerians to disregard misinformation and remain confident in the reforms.
“For the avoidance of doubt, Nigerians will continue to have access to their bank accounts and financial services beyond January 1, 2026, and no one will be denied access for not having a Tax ID,” the board reaffirmed.
