Tag: FG

The federal government has announced that, starting January 1, 2026, all taxable Nigerians will be required to have a Tax Identification Number (TIN) or Taxpayer Identification Number to operate bank accounts in the country, as part of new tax reforms.

The chairman of the Presidential Committee on Fiscal Policy and Tax Reforms in Nigeria, Taiwo Oyedele, disclosed this in an interview he posted on his X account on Thursday.

He explained that Section 4 of the Nigerian Tax Administration Act, to be implemented on January 1, 2026, makes it mandatory for taxable persons to have a tax ID.

He, however, said that students and dependents are exempt from having a tax ID for an operating bank account.

Oyedele stressed that the policy has been in place since the Finance Act of 2020, but the NTAA provides a legal framework for its implementation.

He added that income earners, including businesses with existing TINs, do not need a new tax ID.

“Yes, but with some exemptions. A section of the NTAA requires a taxable person to register and obtain a tax ID.

“A taxable person is anyone who earns income through trade, business, or any economic activity. So banks must request a tax ID from taxable persons. This means that individuals who do not earn an income, such as students and dependents, do not need to obtain a tax ID.

“Any taxable entity without a tax ID may have difficulty running their bank account in the near future,” he said in the interview.

This comes amid fears from Nigerians that their bank accounts without a tax ID may be restricted.

Recall that in June 2025 President Bola Ahmed signed into law new tax laws to be implemented in January 2026.

Reports indicate that the Federal Government has successfully facilitated the release of 100 pupils kidnapped from St. Mary’s Private Catholic Primary and Secondary School, Papiri, in Agwara Local Government Area, Niger State.

626Blaze reports that bandits attacked the school on November 21, 2025, in the remote community of Papiri.

The gunmen, arriving around 2 am on motorbikes, reportedly stormed the school dormitories over a three-hour period, abducting 315 people—303 students and 12 teachers.

Security forces and community hunters were deployed to comb nearby forests for the abductees.

Recall that, in the immediate aftermath, 50 pupils escaped within the first day and were reunited with their families. However, 265 individuals—including 253 children and all 12 teachers—remained in captivity.

Mohammed Idris, the Minister of Information and National Orientation, has said that the high-level Federal Government delegation to the United States of America, US, led by the National Security Adviser, Malam Nuhu Ribadu, is intensely addressing misleading narratives suggesting religious persecution in Nigeria.

“We are not leaving any space for misinformation to stand. Our officials are in Washington with facts, data, and a clear message, which is that there is no government-sponsored persecution of any religious group in Nigeria,” said Idris in an interview on Channels TV’s Politics Today, aired Saturday evening.

The Minister explained that the high-powered Nigerian delegation currently in the US, has met with the Secretary of War, members of the US Congress, officials of the State Department, and other American stakeholders, and has availed evidence-based information about Nigeria’s security challenges, and provided detailed briefings on counter terrorism operations, inter agency security coordination, and efforts to protect all Nigerian citizens, regardless of faith or ethnicity.

These engagements, according to the Minister, are crucial for correcting misconceptions that have been amplified during recent congressional discussions and advocacy campaigns.

“Our mission is simple,” he said. “We are showing our partners the full context of the security situation, the steps the government is taking, and the fact that extremists have killed both Christians and Muslims. These narratives of genocide are not only incorrect, they are dangerous.”

The Minister explained that President Bola Ahmed Tinubu views the situation with utmost seriousness, and has not only strengthened Nigeria’s internal security architecture but also expanded international cooperation to support counter terrorism and intelligence operations.

He said the mission of the delegation underscores the determination of the government of President Tinubu to defend Nigeria’s reputation and ensure that foreign partners anchor their decisions on verified information, not one-sided narratives.

He emphasized that Nigeria’s relationship with the United States remains strong, and that the engagements demonstrate the openness of the Tinubu administration to dialogue, partnership, and transparency. He noted that more follow-up meetings are expected in the coming days as part of a structured government-wide response to the misinformation circulating about Nigeria’s security realities.

The Minister urged Nigerians to remain calm and assured the public that the government will continue to confront insecurity while also engaging the international community to ensure that Nigeria is accurately represented on the global stage.