The Nigeria Revenue Service (NRS), in collaboration with the Joint Revenue Board (JRB), has begun the implementation of a new Taxpayer Identification (Tax ID) system for all taxable persons in Nigeria. The agencies announced the rollout in a public notice issued on Monday, May 18, saying the initiative is in line with Sections 6, 7 …
Beginning January 1, 2026, Nigerians and foreign residents will no longer be able to open or operate a bank account without a Tax Identification Number (Tax ID), following the enactment of the Nigeria Tax Administration Act, 2025, recently signed into law by President Bola Tinubu. The new Act is part of government efforts to expand …
