The Nigerian government has issued a formal clarification on the enforcement of the Tax Identification Number requirement for personal bank accounts, following widespread concerns among citizens.
The clarification comes as the enforcement deadline approaches, with twenty nine days remaining before full compliance begins.
According to government officials, the directive does not mean that existing bank accounts will be closed automatically.
Rather, the aim is to standardize tax records, strengthen financial documentation, and ensure better compliance with national revenue laws.
Authorities stated that the updated rules will improve financial tracking and help eliminate discrepancies in individual tax filings.
The government confirmed that all personal account holders must link their accounts to valid Tax Identification Numbers before the enforcement date.
Banks have been instructed to support customers during the update process and ensure seamless compliance.
Officials emphasised that the purpose is not to punish account holders but to implement a modern system that aligns with international financial standards.
The clarification also addressed rumours circulating online about heavy penalties and account restrictions.
Authorities described these claims as exaggerated and urged citizens to rely only on official statements.
They added that the enforcement process will be transparent and will prioritise public awareness.
The Federal Inland Revenue Service has announced that additional registration centres will be opened across the country to make the process easier.
Banks are also expected to deploy support desks to respond to customer enquiries.
Government officials have assured Nigerians that the new system will ultimately benefit citizens by improving fiscal accountability and strengthening public finance management.
