Fidelity Bank to limit transactions for accounts without tax ID or NIN from January 1

Fidelity Bank has announced that starting January 1, 2026, accounts that are not linked to a Tax Identification Number (TIN) or a National Identity Number (NIN) will be subject to restrictions. This change is in line with the Nigerian Tax Administration Act (NTAA) 2025, which mandates that all bank accounts must be connected to a TIN. For customers without a TIN, a NIN will be required instead.

The bank has sent notifications to customers urging them to promptly update their account details to avoid any disruptions. The notice specifies, “Accounts that do not have a tax ID or NIN may be restricted from transacting starting January 1, 2026.” Customers are advised to link their accounts immediately to ensure uninterrupted access to banking services.

This directive is a response to the federal government’s initiative for stricter tax compliance, which requires banks to ensure that all taxable Nigerians possess a Tax Identification Number (TIN). Taiwo Oyedele, the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, confirmed that the Nigerian Tax Administration Act (NTAA) now provides the legal framework necessary for enforcing comprehensive compliance among all banks, starting next year.

Linking accounts to tax IDs: why it matters for not just Fidelity bank users

The new rule affects millions of Nigerians who have bank accounts but are not registered for tax. By linking Tax Identification Numbers (TINs) and National Identification Numbers (NINs), the government aims to enhance tax collection and ensure that everyone pays their fair share. This also helps banks verify accounts more easily and reduces the chances of unreported income.

Experts say connecting accounts to tax IDs will make financial tracking clearer and more responsible in the economy. “Enforcing this helps both the government and banks track taxable activities effectively,” said a tax compliance analyst. For customers, this means their accounts will remain fully functional and compliant with Nigerian law.

This enforcement is expected to improve financial reporting. It will help banks like Fidelity monitor transactions better and reduce the chances of breaching tax laws. The NTAA framework was introduced in the 2020 Finance Act, but it was never fully implemented, leaving some gaps. The 2025 Act now addresses these gaps.

Also read: How to get a Nigerian Tax ID before Jan. 2026 deadline for bank account holders

Banks will now play a key role in making sure everyone follows the rules. Customers who do not link their accounts may face limits on transactions, like sending money, withdrawing cash, or making payments, as announced by Fidelity.

This will especially affect individuals and small businesses that have not registered a Tax Identification Number (TIN) or linked their National Identification Number (NIN). It is important for Fidelity Bank customers to act quickly before the January deadline.