Nigeria’s equities market witnessed sustained bearish sentiment last week, with renewed sell pressure exacerbated by the reintroduction of Value Added Tax (VAT) on capital market transactions and the continued absence of strong fiscal incentives to attract long-term investments. This combination of regulatory burden and lack of investor stimulus led to a significant decline in market […]

Domestic airline operators in Nigeria, under the Airline Operators of Nigeria (AON), have issued a strong warning regarding the Tax Reform Act signed into law by President Bola Tinubu on June 26, 2025. According to AON, if implemented as scheduled on January 1, 2026, the reforms could “cripple airline operations within 48 hours.” The sweeping

The Chairman of the Enugu State Internal Revenue Service (ESIRS), Emmanuel Nnamani, has revealed that an estimated 99% of the state’s informal sector fails to remit taxes—posing a significant challenge to revenue mobilization efforts. Speaking at a media briefing in Enugu, Nnamani addressed circulating social media claims alleging the imposition of illegal taxes by the

On August 1, 2025, the Federal Inland Revenue Service (FIRS) officially launched its electronic invoicing (e-invoicing) system, signaling a major advancement in Nigeria’s tax administration framework. This initiative aims to enhance transparency, reduce tax evasion, and align Nigeria’s tax processes with international best practices. Key Highlights: Our Take: The rollout of the FIRS e-invoicing system

Coca-Cola Hellenic Bottling Company (CCHBC) has published its fifth annual Tax Transparency Report, reinforcing its strong commitment to responsible tax practices, ethical governance, and sustainable value creation for all stakeholders. This latest report highlights CCHBC’s strategic approach to taxation—not merely as a compliance obligation, but as a key component of its broader ESG agenda. The

President of the International Centre for Tax Research and Development, Mrs. Morenike Babington-Ashaye, has called for greater accountability and transparency in the management of Nigeria’s tax revenues. She emphasized that public officials responsible for managing the nation’s commonwealth must ensure that tax proceeds are accounted for and used in accordance with the law. Speaking at

The Federal Inland Revenue Service (FIRS) has officially rolled out a Real-Time Transaction Monitoring System (RTMS) aimed at enhancing the transparency and efficiency of VAT compliance across Nigeria’s digital economy. This initiative mandates banks, card schemes, fintech companies, and payment service providers to integrate their systems with the FIRS platform to provide real-time data on

The Corporate Affairs Commission (CAC) is taking steps to clean up its register by removing companies that aren’t complying with the law. According to a public notice, these companies have 90 days to file their Annual Returns and update their details on Persons with Significant Control or Beneficial Ownership. If they don’t comply, they’ll be

Nigeria’s new tax laws, enacted on June 26, 2025, aim to modernize the tax system and boost compliance. The reforms have both positive and negative implications for the ICT and cybersecurity sector. Positive aspects include: However, there are also concerns: The reforms also have indirect impacts, such as increased tax clarity for multinationals, potential effects

The Federal Government has introduced sweeping changes to Nigeria’s tax framework under the newly enacted Nigerian Tax Act (NTA), set to take effect in January 2026. Among the most impactful reforms is the expansion of the Value Added Tax (VAT) exemption list — a move aimed at reducing the cost of essential goods and supporting