Nigeria: NRS expands mandatory e-invoicing rollout to medium and emerging taxpayers
The Nigeria Revenue Service (NRS) has announced the continuation of the phased rollout of its E-Invoicing and Electronic Fiscal System (EFS), also known as the Merchant Buyer Solution (MBS), to Medium and Emerging Taxpayers. In a notice issued on
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Nigeria: NRS announces phased e-invoicing rollout
The Nigeria Revenue Service (NRS) has released a timeline for the phased implementation of its Electronic Invoicing and Electronic Fiscal System (EFS), also known as the Merchant Buyer Solution (MBS). The initiative is part of efforts to modernise
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Nigeria: NRS clarification refutes 25% tax on building materials, funds
The Nigeria Revenue Service has clarified, on 17 February 2026, that the Nigeria Tax Act 2025 is already in effect and does not impose a 25% tax on building materials, construction funds, or related transactions, contrary to false claims circulating
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Nigeria: NRS scraps road tax credit scheme over verification challenges
The Nigeria Revenue Service (NRS) has ended the road infrastructure tax credit programme on 5 February 2026, citing its inability to verify construction projects completed under the initiative. NRS Chairman Zacch Adedeji announced the decision,
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Nigeria: FAAN to hike cargo tariffs
The Federal Airports Authority of Nigeria (FAAN) announced that it will implement new cargo tariffs from 2 February 2026. The revision, approved in 2025, was delayed to allow FAAN to strengthen internal controls and close revenue leakages that
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EU removes Nigeria from anti-money laundering, countering financing of terrorism list
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
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Nigeria: NRS clarifies VAT on bank charges
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
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Nigeria: FIRS calls on major taxpayers to adopt e-invoicing, electronic fiscal systems
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
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Nigeria: NIPC introduces new economic development tax incentive regime
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)
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Nigeria to levy withholding tax on short-term security interest
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
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FATF removes Nigeria from grey list
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
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Nigeria: CBN cuts key interest rate to 27%
The central bank reduced the monetary policy rate (MPR) by 50 basis points to 27.00%. Nigeria's central bank, Central Bank of Nigeria (CBN), has reduced its monetary policy rate (MPR) for the first time since 2020, cutting it by 50 basis points
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Nigeria mandates withholding tax on interest from short-term securities
FIRS announced that interest from short-term securities investments will now be subject to withholding tax. Nigeria’s Federal Inland Revenue Service (FIRS) issued a public notice on 17 September 2025, mandating withholding of tax on interest
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Angola, Nigeria to negotiate for tax treaty
If an agreement is reached, it will eliminate double taxation with respect to taxes on income and prevent tax evasion and avoidance. Angola and Nigeria will be negotiating for establishing an income tax treaty between the two countries. If an
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Nigeria gazettes tax reform acts, updates corporate and minimum effective tax rates
The Nigeria Tax Act 2025 and the Nigeria Tax Administration Act 2025, which will take effect on 1 January 2026, as well as the Nigeria Revenue Service (Establishment) Act 2025 and the Joint Revenue Board (Establishment) Act, which came into force on
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Rwanda completes ratification of tax treaty with Nigeria
The tax treaty is the first between the two countries, aiming to prevent double taxation and combat fiscal evasion between Rwanda and Nigeria. Rwanda has published Law No. 020/2025 in the Official Gazette on 28 August 2025, ratifying its
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Nigeria, Singapore IPA enters into force
Nigeria and Singapore first signed the IPA in November 2016. The 2016 Nigeria-Singapore Investment Protection Agreement (IPA) entered into force on 22 August 2025. Signed in November 2016, the agreement will remain valid for 10 years and can
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Nigeria: President abolishes 5% excise duty on telecom services
The abolition of the 5% excise tax on telecommunication services is aimed at improving affordability and service standards in the telecom sector. Nigeria’s President Bola Tinubu has officially abolished the 5% excise tax on telecommunication
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