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Update on “No Tax Payment, No Access to your Bank Account” & FG TIN/BVN Registration Verification Portal 2020/2021

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Update on Federal Government (FG) introduction of No Tax Payment, No Access to Bank Account – This has been trending to all nooks and crannies and many don’t really know what to do if they are to stop saving money in the bank or not. Anyway, we shall guide on the new FG TIN/BVN Registration and Verification portal to eradicate this process of ‘No Tax Payment, No Access to Bank Account’.

According to the Federal Government (FG) by 2020 from January, millions of Nigerians without Tax Identification Number (TIN) may be denied access to their bank accounts as regards to the recent passage of Finance Bill as amended by the National Assembly.

I know you may be afraid already, but we plead, you shouldn’t be as there is need to understand the processes to avoid misquoting the country. Full facts on the processes are explained below. Kindly read through

Contents

Short Description of FG no tax payment no bank account – see TIN/BVN verification portal 2020/2021

Recently, The Nigerian assembly had amended sections 33, 49 & 58 of the Personal Income Tax Act, making it mandatory for individuals to produce their Tax Identification Numbers (TIN) before they can operate existing or new bank accounts in Nigeria.

Federal Government will make it mandatory for Individual Taxpayers and Non Individual Taxpayers without Tax ID find it difficult gain access to their bank account both existing and new bank account in Nigeria.

The result of this amendment is that those Individual Taxpayers and Non Individual Taxpayers without Tax ID access to their bank account will not be able to operate their bank accounts.

TIN/BVN verification Portal 2020/2021

Joint Tax Board verification portal: tinverification.jtb.gov.ng
Federal Inland Revenue portal: apps.firs.gov.ng/tinverification/

Steps for Individual Taxpayers Verification

Step one: Select your Date of Birth.
Step two: Select your preferred search criteria from the Select Criteria Dropdown-TIN or NIN or BVN or Registered Phone Number
Step three: Provide the appropriate value based on the search criteria in Step 2 above
Step four. Confirm you are not a robot by checking the reCAPTCHA Box
Step five: Click the Search button

Steps for Non Individual Taxpayers Verification

Step one: Select the Organization’s Date of Incorporation
Step two: Select your preferred search criteria from the Select Criteria Dropdown-TIN or CAC registration Number or Registered Phone Number. CAC registration number should be typed in this format: BN1234 or IT1234 or RC1234.
Step three: Provide the appropriate value based on the search criteria in Step 2 above.
Step four: Confirm you are not a robot by checking the reCAPTCHA Box
Step five: Click the Search button

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