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Proposed Bill Mandates TIN for Access to Financial Services in Nigeria
A new bill has been introduced in Nigeria that will require individuals involved in banking, insurance, stock-broking, and other financial services to provide a Tax Identification Number (TIN) before opening or operating accounts.
The bill, dated October 4, 2024, aims to enhance tax compliance and increase revenue collection across federal, state, and local governments.
The legislation also mandates non-residents earning income from Nigeria to register for a TIN, while those with passive investment income must provide details to tax authorities.
Penalties for non-compliance include fines of ₦50,000 for the first month and ₦25,000 for each subsequent month.
It has been reported that Bola Ahmed Tinubu was absent at the commissioning of the Opebi-Mende Link Bridge, which took place on April 8, 2026.
However, Senate President Godswill Akpabio represented the President and carried out the ceremony.
As he commissioned the project, he stated “On behalf of President Bola Ahmed Tinubu, I commission these projects.”
Residents of Lagos should prepare for traffic disruptions as several roads will be closed due to the visit of Bola Ahmed Tinubu, who is set to commission infrastructural projects.
The commissioning will take place on April 8 and 9, 2026.
Affected areas on Wednesday (April 8):
Opebi, Allen Avenue, Ikeja, Ojota, and Victoria Island.
Affected areas on Thursday (April 9):
Lekki-Epe Expressway, Ikoyi, Victoria Island, and Ajegunle.
Motorists are advised to plan alternative routes and expect heavy traffic during these periods.
President Donald Trump makes headline as he threatens Iran on social media.
The president shared “Open the F***ing Strait, you crazy bastards, or you’ll be living in Hell — JUST WATCH!”
It can be noted that he even did a countdown on Saturday “48 hours before all Hell will rain down on them,” he warned Saturday. “Time is running out.”
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