The Federal Inland Revenue Service (FIRS) and the Economic and Financial Crimes Commission (EFCC) have renewed their commitment to deepen collaboration in a bid to strengthen Nigeria’s tax compliance framework and boost public revenue. The development marks another step in the government’s push to curb leakages and foster voluntary tax compliance among citizens and businesses….
The Federal Inland Revenue Service (FIRS) said it has stopped the issuance of tax exemption certificates to all categories of taxpayers, including pioneer status companies, non-governmental organisations (NGOs), and entities operating in free trade zones. In a public notice issued by FIRS, the tax authority said the decision is part of ongoing efforts to ensure…
The International Monetary Fund (IMF) has pledged to sustain its support to the Federal Inland Revenue Service (FIRS) to help deepen tax administration and strengthen Nigeria’s revenue mobilisation efforts. Speaking during the opening of an IMF-supported Headquarters Mission at the FIRS headquarters in Abuja, a Senior Economist at the Fiscal Affairs Department of the IMF,…
Leading carrier, MTN Nigeria said it has invested ₦202.4 billion, a 159per cent increase year-on-year, to upgrade and expand network infrastructure, enhancing service quality and capacity. According to its unaudited results for first quarter (Q1) ended 31 March 2025 released yesterday, the telco also said its total subscribers increased by 8.2per cent to 84.1 million,…
The Federal Inland Revenue Service (FIRS) has said the digitization of the nation’s tax process is in line with global best practices. It also disclosed that there are over 500,000 active corporate taxpayers recorded in Nigeria’s national database. Speaking at a Stakeholder Engagement for the Pilot Rollout of the E-invoice solution held in Lagos yesterday,…
Between 2014 and 2024, Nigeria, Africa’s largest economy, earned $305billion as revenue inflows from the oil and gas sector according to the Nigeria Extractive Industries Transparency Initiatives (NEITI). It disclosed this when its executive secretary/national Coordinator, Dr Orji Ogbonnaya Orji appeared before the Senate Public Accounts Committee (SPAC) in Abuja. According to Orji in his…
Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said the proposed amendment to value-added tax (VAT) distribution will create a fair system. In response to the recent rejection of the proposed tax amendment bill by the Northern States Governors Forum (NSGF), Oyedele said the current model for distributing VAT affects many…
Nigeria’s Federation Accounts Allocation Committee (FAAC) has shared N1.298 trillion among the Federal Government, state governments, and the 774 Local Government Councils as revenue for September 2024. This was disclosed at the end of the October 2024 FAAC meeting in Abuja. The total distributable revenue comprises several components: N124.716 billion in statutory revenue, N543.518 billion…
The Federal Inland Revenue Service (FIRS) has introduced a new Unstructured Supplementary Service Data (USSD) code, *829#, designed to enhance taxpayer satisfaction and streamline tax-related services. The code was launched on Wednesday by FIRS Chairman Zacch Adedeji at the Revenue House in Abuja, as part of the 2024 Customer Service Week celebrations themed “Above and…
