Banking & Finance

FIRS Reveals How NIN, CAC Numbers To Replace Tax IDs From 2026

The Federal Inland Revenue Service (FIRS) has announced that the National Identification Number (NIN) will automatically serve as the Tax Identification Number (TIN) for individuals, and the Registered Company (RC) Number will be used for corporate accounts.

Brand News Day Nigeria reports that the FIRS made this clarification on Monday through a public awareness campaign on the new tax laws via the agency’s handle on the popular micro-blogging app, X (formerly Twitter).

According to the FIRS, registered businesses will also no longer need a separate Tax Identification Number, as their Corporate Affairs Commission (CAC) registration numbers will now function as their official tax identifiers under the revised tax framework.

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The announcement follows public concerns over aspects of the new tax laws that require a Tax ID for certain transactions, including the operation and ownership of bank accounts.

Providing further explanation, the FIRS said the Nigeria Tax Administration Act (NTAA), scheduled to take effect in January 2026, mandates the use of a Tax ID for specified transactions. It, however, noted that the requirement is not entirely new, stressing that it has been in existence since the Finance Act of 2019 but has now been strengthened.

“The Tax ID unifies all Tax Identification Numbers previously issued by the FIRS and State Internal Revenue Services into a single identifier,” the Service said.

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“For individuals, your NIN automatically serves as your Tax ID, while for registered companies, your CAC RC number is used. You do not need a physical card, as the Tax ID is a unique number linked directly to your identity.”

The FIRS explained that the new system is intended to simplify identification processes, eliminate duplication, close gaps that enable tax evasion, and promote fairness by ensuring that all individuals earning taxable income contribute accordingly.

The agency also urged Nigerians to ignore misinformation surrounding the reform, assuring the public that the new tax framework is designed to improve efficiency and transparency in tax administration.

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Meanwhile, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, disclosed that banks will be required to request a TIN from all taxable Nigerians as part of the federal government’s new tax administration framework, which will take effect on January 1, 2026.

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Adebayo

Adebayo is a Content Developer and website manager who loves to learn, unlearn and relearn. He has a knack for exploring the tech world. He is always thirsty to learn as the tech ecosystem evolves every day.

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