Nigeria enacts law renaming FIRS to National Revenue Service (NRS)

The Federal Government of Nigeria has welcomed the decision of the European Commission to remove Nigeria from the European Union’s list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism

The Nigeria Revenue Service (NRS) has clarified, on 15 January 2026, that Value Added Tax (VAT) has not been newly applied to banking services, fees, commissions or electronic money transfers. VAT has always applied to fees, commissions, and

Nigeria's Federal Inland Revenue Service (FIRS) issued a follow-up public notice on 6 November 2025, noting the steady progress recorded since the commencement of the National e-Invoicing and Electronic Fiscal System (EFS) on 1 August 2025. A

The Nigerian Investment Promotion Commission (NIPC) announced on 5 November 2025 that applications for the Pioneer Status Incentive (PSI) would close on 10 November 2025, ahead of the rollout of the new Economic Development Tax Incentive (EDTI)

RF Report Nigeria's tax authority, the Federal Inland Revenue Service (FIRS), has issued a directive mandating banks, stockbrokers, and other financial institutions to apply a 10% withholding tax on interest earned from investments in short-term

RF Report  Nigeria has been officially removed from the Financial Action Task Force (FATF) grey list, according to a release from the Ministry of Finance on 26 October 2025. The removal of Nigeria from the FATF grey list marks a major