For days, anxiety rippled across Nigeria as rumors spread that millions of citizens without a Tax Identification Number (Tax ID) might soon be locked out of their bank accounts.

Social media was flooded with panic posts, with many Nigerians fearing they would wake up on January 1, 2026, to discover they could no longer transfer, withdraw, or even access their hard-earned savings.

But on Monday, the Joint Tax Board (JTB) stepped in to calm the storm, declaring that Nigerians without Tax IDs can still operate their bank accounts and conduct financial transactions without disruption.

JTB Clarifies Rumours

The JTB, in an official statement signed by its Secretary, Olusegun Adesokan, clarified that while linking Tax Identification Numbers (TINs) to bank accounts remains part of Nigeria’s long-term tax compliance strategy, it is not yet mandatory.

According to Adesokan, the agency has not issued any directive that banks must restrict accounts of individuals who do not yet possess a TIN. He further explained that the policy is still under review, and Nigerians will be duly informed before any enforcement begins.

In a statement issued in Abuja on Monday by its Head of Corporate Communications, Akpe Adoh, the JTB said such interpretations were misleading.

“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 stated.

According to the JTB, the new tax reforms are designed to simplify compliance, reduce multiple taxation, and exempt vulnerable individuals and small businesses from certain tax obligations.

“These reforms include eliminating multiple taxation, granting tax exemptions to vulnerable individuals and small businesses, and ensuring that the majority of Nigerians will pay lower taxes under the new tax regime,” the statement read.

The JTB disclosed that it is working with the Federal Inland Revenue Service (FIRS) and state revenue agencies to create a harmonised national tax identification system.

The new system, it said, would automatically generate Tax IDs for individuals using their National Identification Number (NIN) and for businesses using their Corporate Affairs Commission (CAC) registration numbers.

Public Reaction

The clarification has brought relief to many Nigerians who had expressed outrage online over the perceived policy. Some citizens had described the rumored move as “punishment for the poor,” pointing out that millions of informal sector workers and artisans are yet to be captured in Nigeria’s tax system.

Others, however, maintained that the government must eventually find a balance between expanding its tax net and avoiding undue hardship for ordinary people.

What Nigerians Should Know

While the JTB has cleared the air, financial experts advise Nigerians to start the process of obtaining a TIN, as it could eventually become a requirement for seamless banking and government services.

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The TIN is free and can be obtained via the Federal Inland Revenue Service (FIRS) or state tax offices.

For now, Nigerians can breathe a sigh of relief — there will be no restrictions on bank accounts without Tax IDs, at least until the government officially rolls out a new framework.