What the New Tax ID Means:
The old Tax Identification Number (TIN) system is being replaced by one single Tax ID. This new ID will work for both federal and state tax offices. The goal is to cut down on repeated records, make it easier to pay taxes, and help the government collect revenue better.
• Every person or business that earns income (taxable persons) needs this Tax ID.
• For individuals, it often links to your National Identification Number (NIN).
• For companies, it connects to your Corporate Affairs Commission (CAC) registration number.
• Ministries, departments, banks, and other organisations must start using the new system.
• It will become very important for banking and some government services as the reforms roll out.
The notice was issued on May 18, 2026.
Stakeholders have been told to update their systems so everything works smoothly with the new Tax ID. This is part of bigger tax reforms meant to remove confusion and build a more modern system. No one needs to panic as many people with NIN or CAC numbers will get their Tax ID automatically or easily online.


Good to know
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ReplyDeleteAnd Borrowing!!😩
Nothing concerns them about security, their own is to tax citizens, very soon, they will be taxing for breath.
ReplyDelete