Commercial banks across Nigeria, including Fidelity Bank and Ecobank, have issued urgent warnings to customers that bank accounts not linked to a Tax Identification Number (Tax ID), or National Identity Number (NIN), may face transaction restrictions starting January 1, 2026. The advisory follows the federal government’s new tax reforms and is aimed at ensuring compliance ahead of the implementation of the 2025 tax laws.
Banks Urge Customers to Link Accounts to NIN or Tax ID
In separate notices to customers, banks emphasized that the new tax laws require all bank accounts to be linked to a Tax ID before the effective date. Fidelity Bank highlighted that under the Nigerian Tax Administration Act (NTAA) 2025, all accounts must be linked to either a Tax ID or NIN by January 1, 2026.
“This implies that accounts without a Tax ID or National Identity Number may be restricted from transacting as from January 1, 2026,” the bank stated. It urged customers to act promptly:
“To ensure your account remains accessible, please update your NIN on your account as soon as possible. Submit your NIN via our portal, the NIN website, or dial 77002# and follow the prompts.”
Ecobank also reminded customers to link their NINs on or before November 13, 2025, warning that failure to comply would result in account restrictions. Customers were provided with clear instructions to update their accounts via the Ecobank Customer Information Portal or by visiting branches.
Step-by-Step Guide to Linking Your NIN
Customers can update their NINs by following these steps:
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Access the bank’s online portal or USSD code (77002# for Fidelity Bank).
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Select the option to update account details.
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Input and verify your NIN.
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Submit the information to complete the process.
Alternatively, customers may visit a branch or contact their relationship manager for assistance.
Background: New Tax Laws
The federal government gazetted Nigeria’s new tax reform laws on September 9, 2025, set to take effect on January 1, 2026. The laws include:
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Nigeria Tax Act (NTA) 2025
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Nigerian Tax Administration Act (NTAA) 2025
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Nigeria Revenue Service (Establishment) Act 2025 (NRSEA)
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Joint Revenue Board (Establishment) Act 2025 (JRBEA)
These reforms aim to strengthen tax compliance, expand the tax base, and integrate tax administration with financial services, mandating that all bank accounts be linked to a Tax ID.
Implications for Customers
Customers who do not link their accounts to a Tax ID or NIN risk having their accounts restricted from deposits, withdrawals, transfers, and other transactions once the law takes effect. Banks are urging individuals to act well before the January 1, 2026 deadline to avoid disruptions.
Key steps for customers include:
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Verifying whether their account is linked to a Tax ID or NIN
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Updating their account information through online banking, USSD, or branch visits
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Obtaining a Tax ID via NIN if they do not currently have one
Government’s Compliance Drive
The tax reforms reflect the government’s effort to ensure full compliance with Nigeria’s tax system. Financial institutions are required to verify that all taxable persons—individuals or businesses earning taxable income—have a registered Tax ID linked to their bank accounts.
While some Nigerians have expressed concerns about potential account restrictions, officials clarified that these measures are primarily compliance requirements and are not punitive. Linking accounts to a Tax ID or NIN ensures smooth financial operations under the new laws.
As the January 1, 2026 deadline approaches, banks like Fidelity and Ecobank are taking proactive steps to help customers update their accounts, safeguarding access to funds and financial services.
