From January 2026, Your Bank Account Could Be Blocked Without This ID

This follows the signing of the Nigeria Tax Administration Act, 2025 into law by President Bola Tinubu on June 26, 2025.

The new law goes beyond banking. A Tax ID will now be compulsory for insurance policies, stock market transactions and any contracts with federal or state governments.

Authorities have made it clear: every taxable person must register and obtain a Tax ID card, while ministries, departments, and agencies at all levels are also expected to secure theirs.

The government says the move will boost tax compliance and transparency — but for millions of Nigerians, the reality is simple: no Tax ID, no financial access from 2026.