Naija News Online (2025)

03/12/2025

CBN Removes Cash Deposit Limit, Raises Weekly Withdrawal Cap to N500,000

The Central Bank of Nigeria (CBN), under the leadership of Yemi Cardoso, has introduced new cash-handling rules, removing the limit on cash deposits and increasing the weekly withdrawal cap to N500,000 for individuals.

According to newsonspot, this is a major jump from the previous N100,000 limit. The policy changes were shared in a circular titled “Revised Cash-Related Policies”, signed by Dr. Rita S**e, Director of the Financial Policy & Regulation Department.

According to the CBN, the new policy aims to reduce the rising cost of managing physical cash, address security concerns, and limit money-laundering risks linked to Nigeria’s heavy use of physical cash. The bank added that although the earlier rules were meant to push Nigerians toward electronic payments, current economic realities made a review necessary.

Effective January 1, 2026, the CBN introduced the following key changes:

The cap on cumulative cash deposits has been removed.

Extra charges for deposits above previous limits have been cancelled.

Individuals can now withdraw up to N500,000 weekly, while corporate organisations can withdraw up to N5 million.

Amounts above these limits will attract excess-withdrawal fees in line with the new guidelines.

The CBN also scrapped the previous special monthly approval that allowed individuals to withdraw N5 million and corporate bodies N10 million once a month.

For ATM withdrawals, customers can still withdraw only N100,000 daily and N500,000 weekly, and these figures count toward the overall weekly withdrawal total across ATMs, POS, or other channels.

Withdrawals above the approved limits will attract charges of 3% for individuals and 5% for organisations, shared 40% to the CBN and 60% to the servicing bank.

Banks have also been directed to ensure their ATMs are loaded with all currency denominations. The limit on third-party cheques remains N100,000, which will also be counted as part of a customer’s weekly limit.

In addition, banks must send monthly compliance reports to relevant CBN departments, including Banking Supervision, Other Financial Institutions Supervision, and Payments System Supervision.

The circular also clarified the exemptions:

Government revenue-collecting accounts at federal, state, and local levels are not affected.

Accounts of microfinance banks and primary mortgage banks domiciled with commercial or non-interest banks also remain exempt.

However, embassies, diplomatic offices, and donor agencies will no longer enjoy their previous privileges.

Credit: newsonspot

01/12/2025

Prayer group marks third year anniversary, stresses importance, power of prayer

Praying Sisters International (PSI), a non-denominational prayer group with branches in Nigeria, United States, Canada and the United Kingdom, has marked its third year anniversary celebration with renewed calls for prayers for Nigeria and Nigerians.

The coordinator, PSI, Deaconess Abigail Osunbunmi, who spoke on theme "Three years of Grace, Growth and Greater Glory", said she got the divine call to start leading people to God through prayers as well as reaching out to the underprivileged in the society.

Osunbunmi emphasised that PSI is led by the Holy Spirit through speaking in tongues and passing the word of God to the faithful.

According to her, PSI will continue to wax stronger as it continues to take the word of God through the nook and cranny of Nigeria in particular and the entire world in general.

"I see that sometimes I want to do a lot but there is constraint. When I say constraints, I don't have the liberty to explain the constraints however the Holy Spirit docked in my heart and asked me to start praying for other people and this is the situation I find myself. I was commanded to drop my own needs and stand for others and that prompted me praying.

"And what hour? He gave me specifically. That it's not about the long hour you're standing in the presence of God for praying, it's about your heart. Using that time (of prayer), maximising the time rightly, praying the right way, praying the will of God, praying the mind of God. And what does that mean? Praying the word of God," Osunbunmi who gave her life to Christ in 1981 and was ordained a Deaconess by Pastor Chris Oyakhilome gave reason she formed PSI.

She added, "These three years have been marked by grace, grace that open doors, grace that strengthened us in times of challenge, grace that kept us standing even when the winds blew strong. Grace that multiplied small efforts into great results. Grace that turned ordinary people into vessels of fire and impact. The Ministry is a non-denominational and everybody is allowed. We look forward to when men will have their own time too and Praying Sisters International will be Praying People International."

Guest ministers at the event, Reverend Mirabel Daniels, Lady Zuweira Beckley and Pastor Bimbo Kolapo who spoke on the topics "Why We Need to Pray", "How to Pray Effectively" and "Praying the Right Way" respectively charged Nigerians to recognise the power of prayers adding that prayer for a believer should not just be a lifestyle but a constant reminder that God's time is always the best.

A member of the group and a medical practitioner, Dr Joyce Egboja, gave testimony about how her husband got healed from sickness through the power of prayers.

The event highlights included powerful intercessory prayers, inspiring words and testimonies as well as take-home gifts and empowerment for widows, the less privileged and others who attended the program.

01/12/2025

Comrade Philip Shaibu @56

Today marks the birthday of Rt. Hon. Comrade Philip Shaibu, former Deputy Governor of Edo State and the current Director General and Chief Executive officer of the National Institute for Sports (NIS), and across Edo State, as well as in several parts of Nigeria, the day is stirring a deeper reflection on the essence of leadership, courage, and public service.

His birthday arrives not as a mere personal achievements, but as an occasion that invites a broader examination of a life defined by resilience, loyalty, and an unbroken commitment to the people.

For decades, Philip Shaibu has stood out as a public figure whose political journey has consistently been shaped by conviction rather than convenience.

Known from his earliest years as a student union activist to his legislative years in the Edo State House of Assembly and the House of Representatives, and later as Deputy Governor, Shaibu built his public identity on a foundation of advocacy, social justice, and dedication to the downtrodden.

His courage in difficult moments, his refusal to bow to intimidation, and his willingness to speak up for the voiceless have earned him both respect and admiration across party lines.

Those who follow his story closely recognize that his strength does not come from political power, but from a profound connection to ordinary people.

Shaibu has always kept close to the grassroots walking their paths, listening to their concerns, and ensuring that governance never feels distant or disconnected. This accessibility has made him one of the most relatable figures in Edo politics, and one whose influence continues to rekindle far beyond his official titles.

Now serving as the Director General of the National Institute for Sports, Shaibu is once again demonstrating that impact is not tied to political office but to clarity of purpose.

His leadership has reinvigorated discussions around sports development in Nigeria, bringing fresh momentum to training standards, institutional reforms, and national sports capacity-building.

His engagements across the country, including his recent advocacy efforts at the NIS Zonal Centre in Enugu, Edo and Adamawa shows a national patriotic drive anchored on efficiency, inclusion, and development.

As Nigerians reflect on his journey today, many see in him the values often missing in modern politics, courage with humility, loyalty without compromise, and leadership rooted in conscience rather than ambition. His life continues to serve as a reminisce that it is possible to be both firm and compassionate, both politically experienced and personally grounded.

Philip Shaibu’s continued relevance, long after leaving the Edo State Government House, is glaring to the authenticity with which he has built his public image.

He remains a man who shows up for people, a leader young Nigerians look up to, and a figure whose sincerity has earned him a rare kind of trust. His name still inspires loyalty in communities, his presence still strengthens conversations around governance and democracy, and his story motivates those who feel that integrity has no place in politics.

Today's celebration therefore becomes more than a personal anniversary; it becomes a national reflection on a life committed to service, resilience, and the pursuit of a better society. Shaibu’s path has been marked by challenges, yet through every storm he has remained steady, never losing sight of where he comes from or the people whose hopes he continues to carry.

On this day, as friends, associates, admirers, and citizens extend their goodwill messages, it is unmistakable that Rt Hon Comrade Philip Shaibu remains one of the enduring figures of principled leadership in Nigeria.

His 56th birthday is not just a recognition of another year, but a celebration of a man who continues to rejuvenate conversations around youth empowerment, sports development, democratic values, and public service with a sincerity rare in contemporary politics.

27/11/2025

Nigeria is a secular state with freedom of religion - Justice Binta Nyako

Taofeek Lawal, Abuja

Justice Binta Nyako of the Federal High Court of Nigeria has described Nigeria as a secular state with freedom of worship and religion saying every Nigerian has freedom to practice the religion of his choice.

The highly reverred judge made the remarks at the Muslim Lawyers' Association of Nigeria (MULAN), FCT branch 2025 law week themed "One Ummah, One Bar" which was held on Thursday at the Nigeria Bar Association (NBA) House, Central Business District (CBD), Abuja.

Addressing participants at the event, Justice Nyako said Allah has given human being the freewill to practice the religion he so desires while adding that religion either comes through birth or by choice.

She cited the example of a case brought to her court by those who wanted to register a shrine but were being thwarted by the Corporate Affairs Commission (CAC). She said she asked the CAC if they've met the criteria to register the shrine and they said yes.

According to her, she said she told the CAC they (the applicants) have not breached any law as long as they do not practice anything that is against the law.

She said, "Nigeria is a secular state. And everybody has freedom of worship. Allah has given us the freewill to practice our religion. Allah has the power to make humanity to practice one religion but He did not. He gave us the freewill to choose our religion which can be by birth or by choice.

"I remember a case brought to my court by those who wanted to register a shrine but were being stopped by the Corporate Affairs Commission (CAC). I asked the CAC if they have met the criteria to register the shrine and they said yes. I told the CAC they (the applicants) have not breached any law as long as they do not practice anything that is against the law."

Justice Nyako also seized the occasion to advise young and upcoming lawyers to be open to continuous legal education and always imbibe the culture of hard work, punctuality, discipline and respect in their day to day activities and aim for the top.

"Muslim lawyers must always demonstrate what Islam teaches us. They must imbibe the culture of Islam which is punctuality. First impression means a lot because there can never be second chance for second impression. Young lawyers should learn from the senior ones.

"Continuing legal education and mentorship is very is key for junior lawyers and imbibe the culture of discussion within your group. You must continue to read and learn, you cannot know it all. Do your research at all times, hard work does not kill, laziness kills," Justice Nyako added.

The keynote speaker at the event, Professor Yusuf O. Ali (SAN) said the law profession is built upon shared ideals of integrity, justice, service and the defence of the weak.

Represented by Professor Mubarak Adekilekun (SAN), Professor Ali said the theme 'One Ummah One Bar' "challenges us to see the convergence between our faith and our calling. It invites us to live out our profession as an extension of our deen (faith) as an act of ibadah, of worship, to uphold justice because it is a command from Allah not merely a professional rule."

While he described integrity as foundation of trust, he said fairness is the foundation of justice adding that service is the foundation of leadership.

"Let us make integrity the defining mark of Muslim lawyers, that when they see us, they think immediately of fairness, humility and credibility. One Ummah One Bar is more than a theme, it is a call to unity of purpose, to moral excellence and to faithful service.

"We are custodians of both the law of man and the trust of God. Our dual identity as Muslims and as lawyers demand a higher discipline and commitment to the ideals of our Deen," the legal luminary stated.

In their separate remarks, the chairman MULAN Week Planning Committee and the chairman, MULAN FCT branch, His Excellency M.A. Abubakar (SAN) and Al-Bashir Lawal Likko respectively, called for the need to mentor young lawyers through intellectual discussions, spiritual grounding and professional collaboration to reach the top of their career.

26/11/2025

Dabiri-Erewa hails Gozy Ijogun as Task Systems Ltd wins Microsoft 2025 Partner of the Year Award in USA

Hon. Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora Commission (NiDCOM), has extended hearty congratulations to Mrs. Gozy Ijogun, Founder/CEO of Task Systems Ltd, on the outstanding global recognition of her Nigerian-founded technology company as a 2025 Microsoft Partner of the Year Award winner in the United States of America.

In a congratulatory message, Dabiri-Erewa said, "Mrs Gozy Ijogun and Task Systems have made Nigeria proud once again. Winning a Microsoft Partner of the Year Award on American soil is a powerful testament to Nigerian brilliance, entrepreneurial spirit, and global competitiveness.

"This is a huge victory for our nation and an inspiration to millions of young Nigerians in the tech space", she added.

“Achievements like this change narratives and showcase the extraordinary talent Nigeria exports to the world. Mrs. Gozy remains a shining ambassador of our country.

A proud product of Nigeria’s prestigious educational system, Ijogun graduated from Loyola Jesuit College, Abuja and later earned a First Class Honours in Computer Science from the University College, London and thereafter obtained advanced certifications and executive training from leading global institutions.

This solid Nigerian academic foundation powered her remarkable journey to the pinnacle of the international technology ecosystem.

This prestigious award celebrates Task Systems Limited’s exceptional innovation, customer impact, and leadership in delivering transformative Microsoft solutions from its U.S. operations while proudly retaining strong Nigerian roots and identity.

E- Signed
Mr Abdur-Rahman Balogun
Director of Media, Public Relations & Protocols, NIDCOM, Abuja.

02/11/2025

Arabinrin Aderonke Wins ISCA Role Model of the Year Award in Denmark

Nigeria’s Arabinrin Aderonke Atoyebi has brought pride to the nation after emerging winner of the prestigious International Sport and Culture Association (ISCA) Role Model of the Year Award in Copenhagen, Denmark.

The biennial ISCA Awards celebrate individuals and organizations using sports and physical activity as tools for social change, inclusion, and empowerment across the world. This year’s edition drew nominations from several countries, featuring inspiring figures who have used their platforms to transform lives and communities through sports.

Atoyebi, who serves as a leading voice in sports development and gender inclusion, clinched the top honour ahead of other globally recognized nominees, including Farid Walizadeh, a Portugal-based Afghan refugee who overcame incredible odds to become a national boxing champion and a passionate advocate for refugee rights, and Zainab Hussaini, a courageous Afghan woman who defied societal restrictions to empower women through sports and became the first woman to run a marathon in Afghanistan.

Arabinrin Aderonke’s work through the FAME Foundation, a non-governmental organization dedicated to empowering women and young girls through sports, particularly stood out. Her initiatives have reached girls in Internally Displaced Persons (IDP) camps, slum communities, and rural areas, using football and other sporting activities as tools to build self-confidence, teach essential life skills, and promote social inclusion.

Through her consistent advocacy and leadership, Atoyebi has become a driving force for gender equality and youth empowerment in Nigeria and beyond, demonstrating how sports can serve as a powerful medium for education, unity, and hope.

By virtue of the recognition, she received a €3,000 cash prize, alongside the global visibility that comes with the ISCA award

Speaking exclusively to Exclusivenews.com.ng via phone shortly after receiving the award, Aderonke expressed deep gratitude and excitement over the honour, dedicating it to her team and all those who have supported her journey.

“This award means a lot to me. It’s a testament to the hard work my team and I have put in over the years,” she said. “To be recognised on such an international stage shows that no effort toward positive change ever goes unnoticed. It motivates me to keep pushing boundaries and reaching more girls who need hope and opportunity.”

Aderonke’s recognition further reinforces Nigeria’s growing presence in global conversations around sports-for-development and women’s empowerment. Her journey continues to inspire many young women across Africa to believe that with passion, dedication, and purpose, they too can create lasting change.

Credit: Exclusivenews

24/10/2025

STATE HOUSE PRESS RELEASE

PRESIDENT TINUBU CHANGES SERVICE CHIEFS

President Bola Tinubu has made changes in the hierarchy of the Service Chiefs in furtherance of the efforts of the Federal Government of Nigeria to strengthen the national security architecture.

The President appointed General Olufemi Oluyede to replace General Christopher Musa as the new Chief of Defence Staff. The new Chief of Army Staff is Major-General W. Shaibu. Air Vice Marshall S.K Aneke is Chief of Air Staff while Rear Admiral I. Abbas is the new Chief of Naval Staff. Chief of Defence Intelligence Major-General E.A.P Undiendeye retains his position.

The President, Commander-in-Chief of the Armed Forces, expresses most profound appreciation to the outgoing Chief of Defence Staff, General Christopher Musa and the other Service Chiefs for their patriotic service, and dedicated leadership.

The President charges the newly appointed Service Chiefs to justify the confidence reposed in them to further enhance the professionalism, vigilance and comradeship that define the Armed Forces of Nigeria.

All appointments take immediate effect.

Sunday Dare
Special Adviser to the President
Media & Public Communication
October 24, 2025

24/10/2025

Coach Haruna happy to learn from Jürgen Klinsmann Gilberto Silva

In the world of youth football development in Nigeria, few figures shine as brightly as Coach Bunmi Haruna, a tactical mastermind known for extracting the maximum potential from his teams.

As a CAF instructor, he recently participated in a groundbreaking FIFA webinar titled "Pressing High with Purpose: Maximizing Value in the Final Third," hosted by legendary football figures Jürgen Klinsmann and Gilberto Silva.
Known for his innovative strategies, Haruna expressed his eagerness to apply the insights gained from the session to his coaching philosophy.

In modern football, high pressing with purpose is a skill every coach must learn to teach effectively. It’s crucial to know when to adopt this strategy and how to maximize its benefits for the team," he stated.
"It was a tremendous privilege to learn from legends like Klinsmann and Gilberto, who shared their experiences with examples from the Club World Cup."

The webinar began with Klinsmann’s compelling discussion on the significance of high pressing in contemporary football. He demonstrated how effective pressing can disrupt an opponent's flow and create numerous goal-scoring opportunities. Silva emphasized the importance of maximizing value in the final third, explaining that players need both technical skills and quick decision-making abilities to excel in that critical area of the pitch.

Haruna, the head coach of FWC champions FC Abuja, revealed that the knowledge he gained from the FIFA webinar would significantly transform his coaching approach.
"I desire to adapt the teachings in my training, design sessions that include high-intensity drills focused on synchronized pressing and quick transitions into the final third, ensuring that each player understands their roles—not just as individuals, but as part of an integrated unit," concluded the current FCT FA Cup-winning coach.

13/10/2025

HEY SISSY’s founder releases book, empowers 60 students

A nonprofit organisation, The Sisi Empowerment Foundation also known as HEY SISSY has empowered 60 students of public and private schools with leadership talks and skills acquisition session where they learned how to make Scrunches, liquid soap, hair clip, hand fan and other items.

The empowerment programme held at Chapel Secondary School, llorin, Kwara State last Saturday was the seventh outreach of the organisation within a space of one and half years

Just recently, HEY SISSY donated one hundred English, Mathematics and Literature textbooks to students of Junior Secondary School, Wuse zone 6, Abuja.

The empowerment programme dubbed ‘Girls Conference 2025’ was organised by HEY SISSY to mark International Day of the Girl Child.

Speaking at the event, Founder of The Sisi Empowerment Foundation, Adesewa Oyinloye stressed the need for government at all levels to pay special attention to the education and wellbeing of the girl child.

Adesewa who also released a book titled In the Space Between to mark the International Day of the Girl Child challenged all stake holders to ensure that issues affecting the girl child are put on the front burner.

According to her, there should be increased funding for activities that involve the girl child and their safety, wellbeing and rights should be protected by all stakeholders.

In her remarks at the event, the Managing Consultant of Pete F2 Consult, Adenike Babajamu, also aligns with the Founder of The Sisi Empowerment Foundation on the need to constantly empower the girl child in order to prepare them for leadership role.

She disclosed that the alarming rate of gender-based violence is unacceptable adding that statistics on child marriage and educational inequality is not encouraging.

Speaking directly to the students in attendance, Adenike stressed the importance of self-discovery adding that they should work hard to be change agents.

Other stakeholders in attendance commended the nonprofit organisation for putting the empowerment programme together adding that the skills acquisition session and the new book distributed to the students will help to shape their future.

The 60 students are from Chapel Secondary School, Ilorin, Oke Odo Community Secondary School, llorin and Emmanuel Baptist College, llorin.

01/10/2025

Re: LEGAL ISSUE OÑ OAU ADMISSIONS: NO CAUSE FOR ALARM- FALODE

Sequel to an order of interim injunction filed against OAU admissions for 2025/2026 Academic session by some candidates in the Federal High Court, Enugu Division on September 30, 2025, the Global President of Great Ife Alumni Association, Barr. Leye Bunmi Falode has pleaded with all stakeholders to remain calm as the issue is being attended to.

Falode stated in a statement issued by the Global Publicity Secretary, Abdur-Rahman Balogun on Wednesday that he was in touch with the Vice Chancellor of the University and has assured all applicants that the institution is on top of the situation.

Falode said that the reaction became imperative due to serious concerns received on the matter across the country, especially those whose children applied to the institution for admission.

" I have liaised with the Vice Chancellor and I have been assured that there is no cause for alarm as necessary action is being taken to address the issue", he said.

Five applicants, Chibuzor Success, Oyeleye Zainab Ayomide, Adedeji John Samuel, Monsura Aliat Aduragbemi and Bassey Daniel Nsikak had dragged OAU, UNILAG and JAMB to court seeking various reliefs on 2025-2026 admission processes.

The plaintiffs in the suit No. FHC/EN/CN/274/2025 on behalf of other candidates sought for an order of the court restraining the respondents from approving, uploading or finalising any admission list for the 2025/2026 academic session pending the hearing and determination of the Applicants' Motion on Notice.

*E-SIGNED* .
Abdur-Rahman Balogun
Global Publicity Secretary, GREAT IFE ALUMNI ASSOCIATION.
OCT. 1, 2025.

18/09/2025

Nigerian Journalist Highlights Role of Communication in Africa’s Tax Systems

The 2025 Annual Congress of the African Tax Research Network (ATRN) opened on Tuesday in Cape Town, South Africa, with a Nigerian journalist presenting a paper on the role of communication in building trust around taxation.

The three-day meeting, themed “Contemporary Taxation Issues in Africa: Shaping the Continent’s Fiscal Space – Past, Present, and Future,” brings together experts, policymakers and academics to discuss how African countries can reform their tax systems to strengthen fiscal sustainability.

Arabinrin Aderonke, an expert in print and broadcast journalism, presented a paper titled “Impact of Communication on Taxation in Africa.”

In her remarks, she argued that how governments engage with citizens is central to whether people willingly comply with tax obligations.

“Citizens need to know why they are paying taxes, where the money goes, and the projects their contributions support,” she said.

“Being present, answering questions, and engaging directly with taxpayers ensures they see themselves as partners in development.”

Her paper also examined Nigeria’s recent tax reforms, including the Federal Inland Revenue Service’s efforts to simplify compliance through digital platforms and expand outreach to small businesses.

While noting these examples, she stressed that such reforms will only succeed if they are accompanied by transparent communication and direct engagement with citizens.

Aderonke further highlighted the importance of regional collaboration, saying African tax authorities could share strategies and coordinate approaches to make taxation fairer and more efficient.

“Technology allows us to reach more people efficiently, from online tax education programmes to streamlined digital filings,” she added.

The ATRN congress runs until Thursday, with sessions scheduled on policy reforms, digital taxation, and strategies for expanding Africa’s fiscal space in the face of economic and social pressures.

Credit: This Day

12/09/2025

Explainer: A Comprehensive Framework of the Tax ID

By Arabinrin Aderonke

In recent debates about Nigeria’s tax reforms, a widespread misconception has taken root: that citizens without a Tax Identification Number (TIN) cannot own or operate a bank account. This view, while popular in some quarters, is inaccurate.

The reality is that Nigeria’s tax system has evolved to integrate seamlessly with existing national registries, ensuring that every eligible individual or entity is automatically identifiable for tax purposes.

This article clarifies how the new framework works, drawing from the Federal Inland Revenue Service’s (FIRS) implementation of the National Taxpayer Directory under the Nigeria Tax Administration Act (2025).

What is a Tax ID?
The Tax Identification Number (TIN) is a 13-digit unique identifier for all taxable persons and entities in Nigeria. It encodes details such as issuance year, registry source (NIN for individuals, RC for corporates), state of registration, and a cryptographic fragment for security, ending with a check digit.

The TIN is not a standalone requirement imposed on citizens. Instead, it is a statutory tool that ensures every taxpayer, whether an individual, a registered business, or an association, can be uniquely verified within the national tax system.

Tax ID and the National Identity ManagementCommission, NIMC: For individuals, the TIN is automatically linked to their National Identification Number (NIN) issued by the National Identity Management Commission (NIMC).

When an individual provides their NIN, such as during bank account opening or Know Your Customer (KYC) processes, the system cross-checks the NIN in the national database. As part of this verification, the TIN is automatically retrieved and attached to the person’s records.

This means citizens do not need to manually apply for or present a tax ID before opening a bank account. The system handles the integration in real time.

Tax ID and the Corporate Affairs Commission, CAC: For businesses, the TIN is tied directly to the RC Number issued by the Corporate Affairs Commission (CAC). Likewise, for cooperatives, partnerships, professional bodies, and other legal entities, the TIN is connected to their respective recognised registries.

This linkage ensures that corporate entities can be transparently identified for both tax and compliance purposes. Just as with individuals, banks and regulators do not require extra documentation beyond the foundational registry numbers to confirm tax status.

Exploring the Benefits of Tax ID: Seamless Banking Access: Individuals and businesses can open and operate bank accounts using their NIN or RC Number, with the TIN automatically integrated behind the scenes

Fraud Reduction: The system eliminates duplicate or false identities by ensuring every taxpayer is tied to a verifiable registry.

Regulatory Compliance: Banks and financial institutions can rely on a single, consent-driven source of truth for onboarding, reporting, and KYC compliance.

Inclusivity: Beyond companies, the framework extends coverage to associations, professional bodies, and trustees.

Global Compatibility: With ICD 0244, Nigeria’s tax system can securely interact with international systems for trade, finance, and compliance.

The misconception that Nigerians can not own or operate a bank account without a tax ID overlooks the integrated design of the new TIN system. By linking TINs to existing foundational identifiers such as the NIN and RC Number, the system ensures automatic compliance without creating unnecessary barriers for citizens.

In practice, this means a Nigerian walking into a bank with their NIN is already tax-compliant. The bank simply retrieves their TIN as part of its onboarding process. Far from being a hurdle, the TIN framework is a gateway to financial inclusion, regulatory transparency, and global interoperability in Nigeria’s evolving digital economy.

Arabinrin Aderonke Atoyebi is the technical assistant on broadcast media to the executive chairman of the Federal Inland Revenue Service

Naija News Online

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