FIRS TIN bank accounts Nigeria
The Federal Inland Revenue Service (FIRS) has clarified that Nigerians do not need a separate Tax Identification Number (TIN) to operate bank accounts. According to the agency, the Bank Verification Number (BVN) can serve as a valid means of identification for tax purposes.
A senior FIRS official explained that the move is part of efforts to simplify tax administration and reduce bureaucratic bottlenecks for individuals and businesses. He noted that integrating BVN with the tax system would make compliance easier while improving revenue collection efficiency.
The clarification follows concerns raised by bank customers over recent rumors suggesting that a separate TIN might be required to access financial services. The FIRS stressed that such claims are misleading and urged Nigerians to disregard them.
The agency further assured taxpayers that digital innovations are being rolled out to make filing and compliance more seamless. It also encouraged citizens to update their records to avoid challenges in linking their BVN to tax profiles.
Analysts have welcomed the clarification, noting that reducing duplication of identification systems could improve financial inclusion and strengthen trust in Nigeria’s tax system.
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