By Joke Kujenya
ACCESS TO banking and financial services in Nigeria is about to require a Tax Identification Number (TIN), the Presidential Committee on Fiscal Policy and Tax Reforms has stated.
Taiwo Oyedele, Chairman of the committee, emphasised that a TIN is necessary for all taxable entities and warned that bank accounts may face restrictions without one.
He explained that the TIN is a unique identifier issued by the Federal Inland Revenue Service (FIRS) or Joint Tax Board (JTB) adding that it serves as a key element in ensuring compliance with national tax regulations and facilitating participation in government financial systems.
The committee also outlined the steps for individuals and businesses to obtain their TINs.
For individuals, the process begins online urging applicants to visit http://tin.jtb.gov.ng and register using either their Bank Verification Number (BVN) or National Identification Number (NIN.
It was also noted that the registration requires the provision of personal details, which are submitted electronically.
Once the application is completed, the TIN will be sent via email, free of charge to respective applicants.
The committee further highlighted that this process guarantees access to banking services and other financial platforms.
The JTB-Self-TIN Registration System is available for use on computers and tablets, the committee added.
Mobile users are also encouraged to access the system through the JTB App, which is compatible with Android and iOS devices whilst individuals can navigate the entire registration process independently through the digital platform.
On the other hand, for businesses, the process requires an in-person visit to a FIRS office as companies or enterprises must present original and photocopied registration documents, including Corporate Affairs Commission (CAC) certificates.
The Committee advised sole proprietors to link their TIN to Value Added Tax (VAT) registration where applicable.
FIRS in particular noted that this step is free and generally takes a few days to complete.
Obtaining a TIN allows businesses to comply with tax obligations, participate in government contracts, and contribute to economic growth, they noted.
The committee stressed that the TIN is not merely a bureaucratic formality. It plays a pivotal role in connecting individuals and businesses to financial systems while ensuring adherence to Nigeria’s evolving tax framework.
Taiwo Oyedele reiterated that the essence of the digital system is to allow applicants to submit information directly, simplifying the process and reducing the need for physical visits.
He noted that for those without internet access, the option to complete registration at local FIRS offices remains available stressing that both methods are designed to facilitate easy acquisition of the TIN while maintaining free access for all eligible entities.
He also said that the TIN is a gateway to financial inclusion as individuals and businesses that follow the outlined procedures can ensure uninterrupted access to financial platforms, participate in economic activities, and meet national tax requirements.
