Key Developments In The New Finance Act 2020

A Tax Identification Number (TIN) is a unique identifier assigned to businesses, individuals, and other entities for the purpose of tax administration. In Nigeria, obtaining a TIN is crucial for businesses to comply with their tax obligations.

Months after its enactment in 2025, the Nigeria tax reform laws continue to generate significant public interest with many taxpayers still uncertain about how the changes affect them in practical terms.

The Federal Inland Revenue Service (FIRS) has introduced a 10% Withholding Tax (WHT) on interest earned from short - term investments such as treasury bills...

The Nigeria Tax Act, 2025 ("the Act") was signed into law on June 26, 2025, and is set to take effect from January 1, 2026. This new legislation marks a major reform of Nigeria's tax system.

On June 26, 2025, President Bola Ahmed Tinubu signed into law a historic package of tax reform legislation, marking the most comprehensive overhaul of Nigeria's fiscal architecture in decades.

Nigeria's 2025 Tax Reform Acts introduce sweeping changes for non-residents, foreign investors, and expatriates operating in or deriving income from Nigeria. From expanded Permanent Establishment rules and Significant Economic Presence thresholds to mandatory VAT registration for offshore suppliers and Capital Gains Tax on indirect share transfers, the new framework fundamentally reshapes cross-border tax obligations. Understanding these provisions and taking proactive compliance steps is now essential for

It repeals several existing tax laws, including the Personal Income Tax Act, and it took effect from January 1, 2026.

On June 26, 2025, President Bola Ahmed Tinubu signed four transformative tax bills into law, fundamentally reshaping Nigeria's taxation landscape. The Nigeria Tax Act, 2025 repealed principal taxation legislations, introducing a comprehensive new framework that affects companies and taxpayers across the country. What are the key provisions of this new tax regime and how will it impact businesses operating in Nigeria?

The Nigeria Tax Act 2025 (NTA 2025), which came into effect on 1 January 2026, introduces a new framework for the taxation of capital gains in Nigeria.

Company Income Tax, also known as Corporate Tax, is a levy imposed on the profits of companies conducting business in Nigeria.

The financial sector in Nigeria is comprised of banks and other financial institutions. These entities are primarily regulated by the Central Bank of Nigeria (CBN) to ensure the security...

The Central Bank of Nigeria's Fourth Edition of the Foreign Exchange Manual introduces sweeping changes to currency and trade regulations, raising import payment thresholds, increasing tuition remittance limits...

Nigeria's Central Bank has introduced sweeping data localisation requirements that will fundamentally reshape how payment service providers, banks, and financial institutions handle transaction data. With a January 2027 compliance deadline, these new rules mandate that all payment transaction data generated within Nigeria must be stored and managed locally, raising critical questions about cloud infrastructure, vendor relationships, and operational readiness. This analysis examines the scope of the requirem

The National Minimum Wage (Amendment) Act 2024 (the "Amendment Act") represents a significant step in ensuring fair labor practices in Nigeria amidst the country's soaring inflation and economic downturn.

The current regulatory regime for Value Added Tax (VAT) in Nigeria is made up of a number of laws and regulations including the VAT Act of 1993 (as amended in 1996, 1999 and 2007)...

On March 24, 2026, the Central Bank of Nigeria (CBN) issued a circular on Measures to Further Deepen Diaspora Remittances and Compliance (the “Circular”).

On 12 March 2026, the Central Bank of Nigeria (CBN) issued a circular (the "Circular") to all financial institutions (FIs) offering Instant Payment (IP) services in Nigeria.

The Central Bank of Nigeria (CBN) on 31 January 2024 released its revised guidelines for international money transfer services in Nigeria. The revised guidelines (the "New Guidelines")...

Kenya and Nigeria are formalizing their digital asset markets through Virtual Asset Service Provider (VASP) licensing frameworks. While both countries require regulatory approval for crypto operations, their licensing categories, capital requirements, and compliance expectations differ significantly. Understanding these distinctions is essential for fintech founders and financial institutions seeking to enter or expand in these African markets.

Nigeria's Securities and Exchange Commission has proposed comprehensive rules for online Forex trading and Contracts for Difference (CFDs), establishing a regulatory framework that extends beyond brokers to encompass technology and platform providers. The proposed regulations introduce stringent capital requirements, operational standards, and compliance obligations for businesses providing trading infrastructure, raising critical questions about registration, data localization