Fidelity Bank Plc has announced that it will begin restricting transactions on bank accounts that are not linked to a Tax Identification Number (TIN) or National Identity Number (NIN) from January 1, 2026.
The bank disclosed this in a notification sent to customers on Monday, citing provisions of the Nigerian Tax Administration Act (NTAA) 2025. According to the notice, the law mandates that all bank accounts must be linked to a tax ID, while customers without a TIN are required to link their NIN instead.
Fidelity Bank explained that accounts without either a TIN or NIN may face transaction restrictions once the regulation comes into effect. Customers were therefore advised to update their records promptly to ensure uninterrupted access to banking services.
The development aligns with the federal government’s broader push for stricter tax compliance, which will require banks nationwide to demand TINs from all taxable Nigerians operating bank accounts from 2026.
Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, recently confirmed the policy direction, noting that the enforcement is anchored on Section 4 of the Nigerian Tax Administration Act. He explained that the law legally requires all taxable persons to register and obtain a TIN.
According to Oyedele, a taxable person includes anyone who earns income through trade, business, or any form of economic activity, making it mandatory for banks to request tax identification from such individuals.
He added that while the policy was initially introduced under the 2020 Finance Act, enforcement has been weak. The NTAA 2025, he said, now provides a clear legal framework to ensure full compliance across the banking sector beginning in 2026.
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