No TIN-for-bank account requirement in Finance Bill – Presidency - Punch Newspapers

The Presidency said on Sunday that there is no provision in the Finance Bill that states that banks will be required to request for Tax Identification Number before opening bank accounts for individuals and existing account holders must provide their TIN to continue operating their accounts.

The presidency highlighted the main changes proposed under the bill, which it said would be further defended this week at both the Senate and the House of Representatives. “Companies engaged in petroleum operations including midstream and downstream operations will not be eligible for exemption on profits in respect of goods exported from Nigeria. Downstream companies were previously eligible under the old upstream and downstream classification.

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