From January 1, 2026, Nigerians will be unable to open or operate bank accounts, run businesses, or access financial services without a Tax Identification Number (TIN).

The reform, introduced under the Nigeria Tax Administration Act 2025 signed by President Bola Ahmed Tinubu, abolishes the FIRS and establishes the Nigeria Revenue Service (NRS) as the new tax authority.

The law aims to expand the tax net, reduce oil dependency, and boost government revenue. Citizens, businesses, and even foreign companies must register with the NRS, while banks and financial institutions are barred from serving anyone without a TIN.