From January 1, 2026, all Nigerians and non-residents will be required to obtain a Tax Identification Number, Tax ID, to open or operate bank accounts.

The development followed the enactment of the Nigeria Tax Administration Act, 2025, recently signed into law by President Bola Tinubu.

Section 8(2) of the Act makes the Tax ID compulsory for banking, insurance, stock broking, and other financial services. It also extends the requirement to contracts with federal and state governments.

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For non-residents, Section 6(1) mandates registration for tax purposes, requiring them to obtain a Tax ID if they supply taxable goods and services or derive income from Nigeria.

To enforce compliance, Section 7(3) empowers tax authorities to assign a Tax ID to individuals or entities who fail to register. The Act also allows for suspension or deregistration of a Tax ID if a business ceases operations temporarily or permanently, provided tax authorities are notified within 30 days.

The legislation is aimed at expanding Nigeria’s tax net and boosting revenue collection. Analysts say the policy could significantly improve tax compliance rates nationwide.

Financial institutions are expected to adjust their systems and processes ahead of the January 2026 rollout.

The Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has accused the management of Dangote Group of violating a peace pact brokered at the Department of State Services, DSS, headquarters on September 9, warning that a nationwide strike appears inevitable.

A statement by NUPENG President, Prince Williams Akporeha, and General Secretary, Afolabi Olawale, placed members nationwide on red alert, urging them to prepare for a possible resumption of the suspended industrial action.

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The statement reads: “This is to alert the general public and the government of the Federal Republic of Nigeria that, notwithstanding the resolution reached and signed at the office of the Department of State Services (DSS) — with three Ministers of the Federal Republic of Nigeria and the Deputy Director-General of the DSS in attendance — on the right of workers to unionise, Mr. Sayyu Aliu Dantata, on Wednesday, 10th September 2025, instructed all his truck drivers, who have been members of NUPENG-PTD for several years, to remove the union stickers from their trucks.

“Today, Thursday, 11th September 2025, he further instructed them to forcefully drive into the Dangote Refinery to load products. Officials stopped them from entering the refinery because their trucks violated the loading rules and regulations.

“We strongly condemn this attitude towards the official institutions of this great country and blatant lack of respect for the laws of the land.

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“We call on the Federal Government not to allow the security agents — who are being paid with the resources of this country — to be used with impunity against the laws and people of Nigeria.

“Security agents should not allow any individual to breach the law, particularly while disregarding agreements reached in meetings facilitated by them and attended by Ministers of the Federal Republic of Nigeria.

“By this statement, we are placing all our members on red alert for the possible resumption of the suspended nationwide industrial action. We also call on the Nigeria Labour Congress (NLC), Trade Union Congress of Nigeria (TUC), all regional and global working people, and civil society organizations to rise in support and solidarity against this threat from the capitalist elite.

“His wealth cannot place him above the law.

“We assure the people and government of the Federal Republic of Nigeria that NUPENG will continue to remain a patriotic, responsible, and responsive organization committed to the progress of this great country.”

The Federal Government has scrapped the 5% excise duty tax previously imposed on telecommunications services, including voice calls and data usage.

The National Orientation Agency made this known in a post via its official X (formerly Twitter) page on Thursday.

The post said the Executive Vice Chairman of the Nigerian Communications Commission, Dr. Aminu Maida, disclosed that President Bola Tinubu ordered the removal of the tax during discussions on the recently passed Finance Act.

The NCC boss noted that the move is expected to ease cost pressures for millions of mobile users in the country.

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Maida added that the President’s intervention was aimed at preventing additional financial strain on citizens while supporting the digital economy.

“The development is expected to bring relief to over 171 million active telecom users across the country, many of whom have faced a 50% tariff increase implemented earlier this year,” he added.

According to The PUNCH, the tax, which applies to both voice calls and data subscriptions, was introduced under the administration of late former President Muhammadu Buhari.

The 5% excise duty, which was first announced in 2022, had faced widespread criticism from both telecom operators and consumer rights groups, who warned it would worsen the financial burden on Nigerians amid rising living costs.

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The government’s justification then was part of its effort to boost revenue generation amidst dwindling oil earnings.

The Ministry of Finance at the time argued that the levy was in line with global taxation practices.

Telecom operators, under the umbrella of the Association of Licensed Telecom Operators of Nigeria, however, warned that the policy would be counterproductive.

The ALTON noted that Nigeria already had one of the highest tax burdens on the telecommunications sector in sub-Saharan Africa.