Major Nigerian financial institutions have issued a critical deadline for customers to link their National Identification Numbers or Tax Identification Numbers with their bank accounts. The new year brings significant changes as banks enforce compliance with Nigeria's recently enacted tax legislation.
Banking Sector Implements Strict Deadline
Leading commercial banks including Access Bank, Zenith Bank, United Bank for Africa, Fidelity Bank, and Ecobank have officially notified their customers about the mandatory requirement to link valid identification documents. The financial institutions have set January 1, 2026 as the final compliance date, after which non-linked accounts may face transaction restrictions.
This directive stems from the Nigerian Tax Administration Act of 2025, which mandates that all bank accounts must be associated with either a National Identification Number or Tax Identification Number. The federal government gazetted this comprehensive tax reform package on September 9, 2025, establishing a new framework for financial compliance.
Individual Bank Compliance Procedures
Fidelity Bank has taken proactive measures by sending direct communications to its customer base. The bank explicitly warned that accounts lacking proper NIN or Tax ID linkage by the deadline could be restricted from conducting financial transactions. Customers can update their information through multiple channels:
- Official bank website NIN portal
- USSD code *770*02#
- Physical branch visits
Ecobank has implemented an even earlier deadline, requiring customers to complete their NIN linkage by November 13, 2025. The pan-African bank has provided dedicated online portals and branch services to facilitate the update process, emphasizing that the procedure requires only minimal time to complete.
Comprehensive Tax Reform Implementation
The new tax regime represents one of the most significant fiscal policy overhauls in recent Nigerian history. The reform package includes four key legislative instruments:
- Nigeria Tax Act 2025
- Nigerian Tax Administration Act 2025
- Nigeria Revenue Service Establishment Act 2025
- Joint Revenue Board Establishment Act 2025
Financial analysts project that the integration of bank accounts with national identification and tax numbers will dramatically reduce tax evasion opportunities. Osas Igho, a respected financial analyst, commented that the new system will make tax avoidance extremely difficult for anyone maintaining active bank accounts.
The Personal Income Tax Act has undergone substantial modifications, replacing previous relief allowances with new rent-based deductions capped at N500,000. Taxable income will now encompass profits from business operations, employment earnings, investment returns, and capital gains, calculated after applying all approved deductions.
Bank customers are strongly advised to complete the required identification linking procedures well before the January 2026 deadline to avoid potential disruptions to their banking services and ensure continuous access to their accounts.
