JTB says Nigerians will not lose access to bank accounts or financial services in 2026 for lacking a Tax ID.
The Joint Tax Board (JTB) has reassured Nigerians that they will not lose access to their bank accounts or financial services from January 1, 2026, even if they do not have a Tax Identification Number (Tax ID).
This clarification follows concerns raised after a document from the Presidential Fiscal Policy and Tax Reform Committee suggested that taxable persons without a Tax ID could be barred from using bank accounts, insurance, pension, or investment services after that date.
The committee’s chairman, Taiwo Oyedele, had explained that “without a Tax ID, a taxable person may not be able to operate bank accounts, insurance policies, pension accounts, or investment accounts.”
In a statement signed by its spokesperson, Akpe E. Adoh, JTB dismissed such claims, saying: “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 explained that ongoing reforms aim to simplify compliance, eliminate multiple taxation, and automatically generate Tax IDs using NIN and corporate registration numbers. It urged citizens to ignore false reports.