NRS: VAT on Banking Fees Isn't New - Full Details
The Nigeria Revenue Service clarifies misconceptions about VAT on banking services, stating it's not a new tax. Learn what changed and what remains exempt.
Category : Search result: Nigerian Revenue Service NRS
NRS: Banks Pay VAT on Transfer Fees, Not Customers
The Nigerian Revenue Service clarifies that the 7.5% VAT applies to bank service charges, not transaction values. Implementation begins January 19, 2026. Read the full details.
New 2026 Bank Charges: VAT, Stamp Duty Explained
Starting 2026, Nigerians face new costs: a 7.5% VAT on mobile/USSD fees and a ₦50 stamp duty on transfers above ₦10,000. Learn all the details and how to plan for higher digital banking expenses.
New 7.5% VAT on Mobile, USSD Bank Transfers in Nigeria
Nigerians will pay a 7.5% VAT on mobile transfers and USSD banking from January 2026. Fintech firm Moniepoint clarifies it's a government directive, not a price hike. Consumer groups warn of financial strain.
7.5% VAT on Mobile, USSD Bank Transfers Starts Jan 19
Nigerians will pay 7.5% VAT on mobile transfers & USSD fees from January 19, 2026. NATCOMS calls it 'double taxation' and threatens legal action. Read the full details.
NRS: Food, Transport Not Taxed in New 2026 Laws
NRS Chairman Dr Zacch Adedeji assures Nigerians that essential items like food and transport are exempt from transactional taxes under the new 2026 regime, aiming to tax prosperity, not poverty. Read details.
FAAC Shares N6tr in Q3, Lagos Gets N179bn
Nigeria's FAAC disbursed a record N6 trillion in Q3 2025, with Lagos and oil-producing states receiving huge allocations. NEITI warns of fiscal risks as oil prices soften. Read the full breakdown.
Obi Flags Issues in Nigeria's Controversial Tax Reforms
Peter Obi criticises Nigeria's new tax laws, citing KPMG report on flaws. NRS defends reforms. Read about the potential impact on investment and the social contract.
NRS Publishes Phone Number for Tax Issues Reporting
Nigeria Revenue Service opens dedicated phone line and email for citizens to report problems with new 2026 tax laws. Get help with TIN, exemptions, and compliance.
DisCos Record N92.93bn Revenue Gap in October
Nigerian electricity distributors faced a N92.93bn revenue shortfall in October 2025 due to billing and collection inefficiencies. NERC data reveals stark performance gaps among DisCos. Read the full analysis.
New Tax Act Faces Hurdles, Says Business Leader
Dele Oye identifies key flaws in Nigeria Tax Act 2025, including a low rent relief cap and restrictive forex deductions, warning of implementation challenges. Read the full analysis.
16 Fuel Ships Dock in Lagos, Customs Revenue Hits N2.93tn
Sixteen ships carrying petrol, diesel, and aviation fuel have arrived at Lagos ports. Meanwhile, the Apapa Customs Command announced a record N2.93 trillion revenue for 2025, a 24.32% increase.
Customs Generates N2.93trn at Apapa Port in 2025
The Nigeria Customs Service, Apapa Port Command, recorded N2.93 trillion revenue in 2025, a 24.32% increase. Controller Emmanuel Oshoba credits technology and stakeholder compliance. Read more.
CITN: Sustained Implementation Critical for Tax Reform
CITN President Innocent Ohagwa outlines the pillars for Nigeria's new tax reform success: sustained implementation, capacity building & stakeholder engagement. Learn how the reforms aim to harmonize taxes and boost revenue.
Customs Generates N2.93tr at Apapa Port in 2025
Nigeria Customs Service's Apapa Command reports a record N2.93 trillion revenue for 2025, a 24.32% increase. The feat is credited to tech deployment and stakeholder compliance. Read more on the strategies and enforcement wins.
Pillarcraft Accredited as E-Invoicing System Integrator
Pillarcraft Cloud Solutions gains NRS and NITDA accreditation as a System Integrator for Nigeria's e-invoicing framework, boosting the digital tax transformation agenda. Discover how this impacts businesses.
Pillarcraft Accredited as NRS e-Invoicing Integrator
Pillarcraft Cloud Solutions gains NRS & NITDA accreditation as a System Integrator for Nigeria's e-invoicing framework, launching UsawaConnect™ to help businesses comply seamlessly. Learn how this shapes digital tax reforms.
Customs Seizes N47.6bn Illicit Goods in Port Harcourt
The Nigeria Customs Service, Port Harcourt II Command, intercepted 75 containers of illicit goods, including expired drugs, valued at N47.6bn. The command also surpassed its 2025 revenue target. Read the full report.
Customs Port Harcourt II Generates ₦731.2bn in 2025
The Nigeria Customs Service, Port Harcourt II Command, generated ₦731.2 billion in 2025, surpassing its target by over 104%. Discover how they achieved this milestone and their major seizures.
Tax Reform Execution Delayed, Port Agencies in Limbo
The implementation of Nigeria's new tax laws faces sluggish execution due to poor inter-agency coordination. NPA and NIMASA continue port collections as the National Single Window's March timeline remains uncertain.
Nigeria's New Tax Laws: A Test of Enforcement Readiness
Nigeria's ambitious tax reform, effective Jan 1, 2026, replaces FIRS with NRS. Experts warn success hinges on implementation, not just policy design. Will it broaden the revenue base and reduce oil dependence?
Akwa Ibom Gov Ends Deals With All Revenue Contractors
Akwa Ibom State Governor, Pastor Umo Eno, has terminated all revenue contractors and consultants to ensure transparency and centralised collection. Discover the new reforms.
Lagos PSSDC DG on Attracting Top Talent to Public Service
Adekunmilola Adio-Moses, DG of Lagos PSSDC, details his vision to transform the centre into a world-class public service university and attract Nigeria's best minds to governance. Read his plans.
Fire Destroys Popular Abuja Suya Spot Ozyet Suya
A devastating fire on New Year's Day destroyed the popular Ozyet Suya spot in Abuja's River Park Garden. Property worth millions lost. Read more on the incident and safety calls.
FG Unveils New Nigeria Revenue Service (NRS) Identity
Nigeria's Federal Inland Revenue Service (FIRS) has officially transformed into the Nigeria Revenue Service (NRS). Discover the new logo, public reactions, and what this means for taxpayers.
FIRS Transitions to Nigeria Revenue Service (NRS)
A new era begins as the Nigeria Revenue Service (NRS) officially replaces the FIRS. Discover the goals of the new tax regime and what it means for Nigeria's economy.
Nigeria's Federal Civil Service Completes Paperless Transition
Nigeria's Federal Civil Service has officially become fully paperless, marking a historic shift from legacy bureaucracy to a digital public service. Discover the impact of this major reform.
New Nigeria Revenue Service Logo Unveiled in Abuja
NRS Chairman Zacch Adedeji unveils the agency's new logo, signaling a commitment to a unified, efficient revenue system aligned with Nigeria's economic agenda. Read more.
FIRS Replaced by NRS in Major Nigerian Tax Reform
Nigeria's FIRS is now the Nigeria Revenue Service (NRS) following landmark 2025 legislation. Discover how this shift promises transparency, efficiency, and a new era of public finance management for all citizens.
FIRS Transforms to Nigeria Revenue Service in 2026
Nigeria's FIRS transitions to the Nigeria Revenue Service in January 2026, driven by four new laws. The reform promises streamlined tax processes, stronger oversight, and integrated revenue collection for better public finance management.
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