JRB has also provided essential clarifications regarding the use of Tax Identification Numbers (Tax IDs) for financial activities in Nigeria.

As we approach the new year, the JRB’s statement:

No Account Restrictions or Deductions

• Transactions will continue as normal: The JRB has explicitly stated that there will be no restrictions placed on bank accounts or financial transactions effective January 1, 2026, due to a lack of Tax IDs.
• Zero Tax-ID based charges: The public is assured that no unauthorized deductions will be made from any bank account simply because a customer does or does not have a Tax ID.

Automatic Issuance Process

The Board is simplifying how citizens and businesses receive their identification to ensure a “seamless retrieval” process:

• For Individuals: Tax ID will be automatically issued to every taxable person using their National Identification Number (NIN).
• For Businesses: Tax ID will be automatically generated using the CAC registration number.

How to Generate Tax ID via JTB ahead of 2026

A Call for Calm

The JRB emphasizes that there is no cause for panic. These measures are designed to modernize the tax system without disrupting the daily financial lives of Nigerians or the operations of businesses.

The statement, signed by the Corporate Communications Department, reinforces the board’s commitment to its core values: Harmonize. Optimize. Trust.

In a release on Friday titled, ‘’Clarification regarding the money provided by the FIRS to the Joint Tax Board to fund the activities of the Presidential Fiscal Policy and Tax Reforms Committee”, Mr. Oyedele said that over N4 billion of the said funds transferred by the FIRS is yet to be spent.

He explained how the fund will be spent:

“We are aware of a recent story regarding some funds transferred by the FIRS to the Joint Tax Board (JTB) for the Presidential Fiscal Policy and Tax Reforms Committee.

The Committee’s budget includes provisions for a national “Data for Tax” project which the JTB has been championing for over 2 years.

The project was presented to the National Economic Council in 2022 and was meant to be funded by the federal government and the 36 states.

However it stalled due to lack of funds. Given the importance of the project to the effective reform of our tax system, it was included in the Committee’s budget.

Other expenses included in the Committee’s budget, which has the approval of the National Assembly, include setting up of offices for the Committee in Lagos and Abuja, payment of salaries for the full time staff engaged by the Committee, travels and other logistics for over 70 members representing more than 40 institutions and stakeholder groups mapped to 6 different Subcommittees, more than 30 Secretariat personnel and over 40 students across the country.

In addition, the budget covers planned stakeholder engagements with various sectors and interest groups, as well as international engagements and understudy of some leading tax regimes around the world, and so on.

The budget covers a period of one year being the lifespan of the Committee.

It should be noted that the Committee was not set up simply to produce reports and recommendations, we are also charged with the implementation of recommended and approved proposals which need to be funded.

The Committee’s mandate includes ensuring prudence and accountability in the management of our national resources.

It will therefore be a contradiction for the same Committee to be wasteful or reckless in its own affairs. Members of the Committee work on a volunteering basis and are only paid reasonable allowances to cover their out of pocket expenses as we cannot afford to pay the commercial value for their time, skills and experience. As the Chairman of the Committee, despite working full time on the assignment, I do not receive a salary.

All the expenses of the Committee are properly documented and available for audit. We collect receipts for fuel, stationeries, and virtually every Naira that we spend to the extent possible.

Over N4 billion of the said funds transferred by the FIRS to the JTB for the Committee’s work is yet to be spent and very much intact in the JTB account.

We will be responsible, prudent and accountable with every Naira of public funds we have been entrusted with.

Thank you all for your show of support and for the confidence reposed in us and our work. We will not let you down”.