“Nigeria’s New Tax Administration Acts And Mandatory Tax ID”
November 14, 2025
3:18 pm
Nigeria’s new Tax Administration Act mandates Tax IDs for financial and business activities, aiming to simplify compliance and close revenue loopholes.
Nigeria’s new Tax Administration Act (NTAA) has introduced fresh attention to a long-standing requirement: the use of Tax Identification Numbers (Tax IDs) for financial and business transactions. The move, designed to strengthen compliance and transparency, has raised questions among individuals and businesses across the country.
Under the NTAA, all taxable persons—those earning income through trade, employment, or business—must register with the tax authorities and obtain a Tax ID. Banks and other financial institutions are required to request this number
