JTB Debunks Rumours of Bank Account Restrictions Over Tax IDs

The Joint Tax Board (JTB) has dismissed reports suggesting that Nigerians without a Tax Identification Number (Tax ID) will be denied access to their bank accounts or financial services beginning January 1, 2026.

In a statement issued on Sunday by its Head of Corporate Communications, Akpe E. Adoh, the JTB assured citizens that account holders would “continue to have access to their bank accounts and also continue to carry out financial transactions even beyond January 1, 2026.”

The clarification comes amid public concern following reports that linked access to financial services with possession of Tax IDs.

According to the Board, the Federal Government, under the tax reforms introduced by President Bola Ahmed Tinubu, is focused on simplifying tax compliance, eliminating multiple taxation, granting exemptions to vulnerable groups, and ensuring that most Nigerians pay lower taxes under the new system.

The JTB explained that, as part of the reforms, it is working with the Federal Inland Revenue Service (FIRS) and State Internal Revenue Services on a harmonised National Tax Identification system. The initiative will rely on the National Identification Number (NIN) for individuals and the Corporate Affairs Commission’s Registration Number (RC) for businesses as unique identifiers.

This system, the Board noted, will enable the automatic generation of Tax IDs without disrupting banking or financial activities.

“We therefore urge the public to remain calm and ignore any claims to the contrary. Again we restate for the avoidance of doubt that Nigerians will continue to have access to their bank accounts and carry out financial services beyond January 1, 2026, and no one will be denied access on account of not having a Tax ID,” the statement read.

The JTB reiterated its commitment to implementing people-centred tax policies designed to promote economic growth, fairness, and ease of doing business while ensuring Nigeria remains a tax-friendly environment.