Tax ID Compulsory for Opening Bank Accounts From January 2026
From January 1, 2026, all Nigerians and non-residents will be required to obtain a Tax Identification Number, Tax ID, to open or operate bank accounts. The development followed the enactment of the Nigeria Tax Administration Act, 2025, recently signed into law by President Bola Tinubu. Section 8(2) of the Act makes the Tax ID compulsory…