Abeg, make we yan small about Tax ID wey dey cause wahala for Naija banks.
No be small matter wey dey happen as people dey wonder wetin this Tax Identification Number (Tax ID) go mean for dem.
Make I clear the air, as Taiwo Oyedele, wey dey run the Presidential Committee on Fiscal Policy and Tax Reforms, don talk am well for YouTube say: “You no need Tax ID to open bank account if you no dey do business.”
Wetin e mean be say, if you dey run business, you don dey need Tax ID since 2020, no be new tori o! This law don dey since fin to keep everywhere in order.
Wetin dey surprise many people be say, the Tax ID wey you go use fit be your National Identification Number (NIN) or your Corporate Affairs Commission (CAC) number. E go help gree everything flow and no more wahala.
As dem dey try explain things, dem also clear say, if you don get TIN before, you no need to go apply again. Your old TIN still dey valid.
And if you dey hear say you go need to queue for Tax ID card, no worry! No card dey jare, na just unique number wey dey link to your identity. You fit just apply online or visit FIRS office.
For business owners, even small ones, make you no slack o! You go still need to get Tax ID. Your personal Tax ID fit even work for NGO and other incorporated bodies.
How e go take affect our brothers and sisters wey dey abroad? Make I tell you; if you dey run any business for Naija with your Nigerian NIN, you fit still collect Tax ID without wahala.
For foreign businesses wey dey hustle for Naija, dem no fit escape this Tax ID matter too. If you dey supply goods or services, you mush register.
Now, as we dey prepare for January 2026, make we no forget say all our government agencies need to get this Tax ID too. If you no register before January 1, 2026, e fit dey wahala for you owing your bank account.
But before you vex, just know say this na old law wey dey gwan since Finance Act 2019. Omo, things dey change, and dem still dey try close gaps wey allow tax evasion.
And no be say government go just dey collect tax money from your account anyhow. Dem still follow due process, and na so e suppose be.
Your money dey safe for your bank if you get millions, no need to fear. The aim be say make everybody dey pay wetin dem suppose pay for tax make life better for all of us.
This new system go make everything easier so we fit dey focus on making our money instead of worrying about tax wahala.
Naija go come shine well if we all join hand together to participate.
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