David Oladimeji
Fidelity Bank Plc has announced plans to place transaction limits on customers’ bank accounts that are not linked to either a Tax Identification Number (TIN) or the National Identity Number (NIN) with effect from Jan. 1, 2026.
The bank disclosed this in a notice issued to customers on Monday, Dec. 15, 2025, explaining that the move was in compliance with provisions of the Nigerian Tax Administration Act 2025.
According to the notice, the new law makes it mandatory for all bank accounts to be linked to a valid tax identification number as part of efforts to strengthen tax administration and enforcement across the financial system.
Fidelity Bank advised customers who do not have a TIN to link their accounts with their National Identity Number as an alternative means of compliance.
The bank warned that accounts lacking either of the two requirements may be restricted from carrying out transactions once the policy takes effect.
It urged customers to update their account records early to avoid any disruption to banking services.
The bank noted that proper linkage of accounts would ensure uninterrupted access to banking services beyond the Jan. 1, 2026 deadline.
The development follows the Federal Government’s decision to enforce stricter tax compliance measures within the banking sector beginning in 2026.
Under the new framework, banks are required to request tax identification numbers from Nigerians who earn income and operate bank accounts.
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Mr Taiwo Oyedele, recently confirmed the policy shift, describing it as a critical step toward improving revenue generation.
Oyedele explained that the law applies to individuals and entities that earn income from business, trade or other economic activities, making registration for a tax ID compulsory.
He added that although similar provisions existed under the 2020 Finance Act, enforcement was weak at the time.
According to him, the Nigerian Tax Administration Act 2025 now provides the legal backing required for full compliance by banks and account holders from 2026.
Financial analysts say the policy is expected to deepen transparency in the banking system while supporting the government’s drive to broaden the tax base and improve fiscal sustainability.
