My people, make we settle down small to gist about this Tax Identification Number matter wey dey scatter brain for Naija lately.

So, you fit sabi say dis Tax ID matter no be new wahala, e don dey ground since 2020 when Finance Act land. As e be now, e dey mandatory for people wey dey run bank accounts for business purposes to get this Tax ID. But no panicking, if you no dey do business, e no concern you!

Taiwo Oyedele, wey be the Chairman of Presidential Committee on Fiscal Policy and Tax Reforms, don clear the air say e no be say everybody go need Tax ID before January 2026. E talk say as long as you no dey earn money from business or investment, you no go need am. Normal salary workers and individuals wey no dey run business dey chill.

Another gist wey Iyanu don drop be: Tax ID na just one number wey go solve plenty matter. Before, different agencies dey issue different TINs, but now dem don merge am, so your National ID or your company’s CAC registration number fit serve as your Tax ID. Na so we go dey reduce wahala for people, and compliance go be easier.

And if you don already get your Tax Identification Number? No shaking! Your TIN still dey valid, and e go automatically transfer into dis new Tax ID scheme. You no go need to register again. How sweet be dis matter!

No queues, no biometrics, and no wahala. Just enter online for Joint Tax Board portal, and your Tax ID go land for your inbox. You fit go FIRS office too if you no dey feel like going online, and nobody go collect money from you!

For business owners, every business must get Tax ID. Even small hawkers fit use their personal Tax ID. Anyone wey don register with CAC go get a TIN automatically. If your business don dey for long but you no get this TIN, just waka go FIRS or apply online with your CAC papers.

For Nigerians wey dey abroad, if you dey manage bank account for income wey dey flow from Naija, you fit get Tax ID using your Nigerian identification number (NIN). But if your account no dey used for business or income, e no concern you.

Foreign companies wey dey do business for Naija self gatz get Tax ID. If dem dey sell goods or services, dem go register, but if na just passive income like dividends, dem fit no need full registration but go still give relevant details.

Government agencies too gatz collect Tax IDs, as Section 5 of the NTA don enjoin all ministries, departments, and agencies to comply.

If you no get your Tax ID by January 1, 2026, no fear. Most taxable persons don already comply, but those wey never get am fit face wahala for running their business accounts. But relaxed, this no dey affect those wey no dey earn income.

And make I clear you, the government no go just use direct tax debit to yank money from your account. Na last resort, plus e go require court orders. So, nobody dey panic, your deposits dey safe, no matter the amount.

Dis system wey dem dey build na for everybody to benefit. E go reduce loopholes and ensure say people wey dey earn taxable income go pay their fair share without to disturb low-income citizens wey dey exempt.

In summary, the new Tax ID policy no be about punishment or making people dey fear; na about creating a clear and fair tax system. All we need now na correct information and we go dey alright!