Hanson Olakunle has over 7 years of Accounting Software Implementation and has managed several software implementation projects for companies in Manufacturing, Construction, Education, Downstream, and Logistics.
Kunle is Certified in Sage 200 Software, Sage 200, Sage payroll and Norming Resource Manager Implementation.
Olakunle previously worked with Steven Philips & Associates Limited as ERP Software Manager where he majored in implementing and supporting clients on Sage 300 and Norming Resource Manager, he has also worked with Lagetronix Nigeria limited where he acquired vast experience in financial systems design and implementation as a Senior ERP Consultant.
Prior to joining Lagetronix Nigeria limited in 2018, Olakunle previously worked with PML Advisory (Now PML Professional Services) as an SME software Accountant/Sage Consultant where he gathered experience in accounting and software implementation for Finance House, Insurance, Health Care, Oil & Gas etc.
Olakunle is currently a member of the Board of Management of YMCA of Lagos and the National Youth President of the YMCA
He graduated from Yaba College of Technology with a Diploma in Accounting and a Degree in Accounting from the University of Lagos.
Every financial service e.g, banks, insurance, stock-broking and others shall or will ensure every taxable person provides tax ID.
Every person that makes or has source of income and is of taxable age must be able to provide the tax ID, it is used to to track the flow of funds and how much the person is able to generate.
The uses of a Tax ID
– Legal and business compliance: A business, company or an organization cannot legally operate a formal business or register (with the CAC in Nigeria) without eventually linking the business name to TIN (Tax Identification Number).
– Filing Obligations: You cannot legally file annual tax returns or pay personal/corporate income tax without a TIN.
– Avoiding Penalties: Operating a business or earning a significant income without a TIN can lead to audits, fines, or legal action for tax evasion.
– Tax Identification Number: It allows the government to uniquely identify taxpayers and link them to their tax records, much like a social security number or a national ID.
– Opening Accounts: Most commercial banks require a TIN to open business accounts and, increasingly, high-tier personal accounts.
– Loans and Credit: Financial institutions use your tax history (linked to your TIN) to verify income and assess creditworthiness. Before securing a mortgage or a business expansion loan is nearly impossible.
– Government Contracts: To bid for government tenders or contracts, a Tax Clearance Certificate (TCC) is usually required, which can only be issued if you have a valid TIN and a clean tax record.
– Import and Export: If you are involved in international trade, a TIN is required to clear goods through customs and obtain necessary shipping licenses.
– Invoicing and VAT: To legally charge and remit Value Added Tax (VAT), a business must be registered with a TIN.
– Asset Registration: In many countries, you cannot register a vehicle, purchase land, or obtain a Certificate of Occupancy without providing a TIN.
– Foreign Exchange: Accessing official foreign exchange markets or transferring large sums of money internationally often requires tax identification for anti-money laundering (AML) compliance.
– Professional Licenses: Many professional bodies require a TIN before issuing or renewing licenses to practice (e.g., in law, accounting, or medicine).
– Social Safety Nets: During crises, governments often distribute subsidies, grants, or relief packages. Having a registered TIN makes you eligible for these formal support systems.
– Refunds: If you overpay your taxes or are eligible for tax credits, the government uses your TIN to process and issue your refund.
