Over the years, Nigeria has faced persistent revenue shortfalls, rising debt obligations, and soaring inflation (which peaked at over 32% in 2024).

Intangibles are an integral part of the value creation process of businesses and a fundamental part of their continuing success.

On Tuesday 8 March 2022, the Tax Appeal Tribunal sitting in Lagos, ruled in Investment Holdings Limited and Federal Inland Revenue Service that the provision of Section 15(7) of the Fifth Schedule to the FIRS (Establishment) Act, 2007 ...

The Regulations provide for a singular and one-off levy of ₦50 on the recipient of any electronic receipts or transfers of ₦10,000 or above.

On 26 June 2025, four new tax acts were signed into law, with two taking effect from 1 January 2026. One of the silent but most consequential changes buried in those pages is a clear but broadened legal definition of who a non-resident individual is, for tax purposes in Nigeria.

On 16 August 2021, President Muhammadu Buhari signed the Petroleum Industry Bill (PIB) into law. This put an end to the two decades of attempts made to pass the PIB.

The FGN, recently refuted reports that it was set to privatise TCN. The Special Adviser to the Minister of Power, Mallam Isa Sanusi, stated in a recent publication, that reports claiming that TCN...

In March 2024, Nigeria's banking system regulator, the Central Bank of Nigeria (CBN) announced an increase in the capital requirements for banks operating in Nigeria across the different licence categories.

In recent years, transfer pricing (TP) has emerged as a significant concern for multinational enterprises (MNEs) operating in Nigeria. With the Nigeria Revenue Service (NRS) (formerly Federal Inland Revenue Service) intensifying efforts to generate revenue through taxation, taxpayers face heightened scrutiny, prolonged audits, and increasing risk of double taxation.

In November 2024, the Federal Inland Revenue Service (FIRS) announced the planned adoption of the Merchant Buyer Solution (MBS) also called the e-invoicing initiative for enhanced tax administration and tax collection.

On November 27, 2024, the Federal Inland Revenue Service (‘the FIRS or the Service") issued the Advance Pricing Agreement (APA) Guidelines (the Guidelines) through Information Circular No. 2024/006, with an effective date of 1 January 2025.

The Lagos zone of the Tax Appeal Tribunal has ruled, in the case involving Rand Merchant Bank Nigeria Limited and Federal Inland Revenue Service, that the FIRS' discretionary powers under section 21 of the Companies Income Tax Act, ...

In a study conducted by the Organization for Economic Cooperation and Development (OECD) in 2019, it was established that Nigeria has the lowest tax to Gross Domestic Product

It comes as no surprise that Nigerian entities are net recipients of intercompany loans from their related parties in other jurisdictions. Nigerian entities enter such financial...

It is often said that the engine of any successful organisation is a well-executed strategy. While this saying can be considered a cliché, many of the global fortune 500 companies

The recent developments in the international taxation have significantly impacted Nigeria's Transfer Pricing (TP) landscape.

In recent years, Africa has been labelled the continent of innovation, reflective of its burgeoning population and talented youth.

The National Pension Commission (PenCom or "the Commission") recently issued a Revised Regulation on the Administration of Retirement and Terminal Benefits ("the Revised Regulation").

Management fees are a common feature of intra-group arrangements within multinational enterprises (MNEs), reflecting charges for services provided by a parent company or related entity to its subsidiaries. These services are typically designed to promote operational efficiency, ensure consistency in group-wide policies, and allow group entities to benefit from centralized expertise.

Nigeria has grappled with sustained inflationary pressures in recent years, exerting widespread effects across all sectors of the economy.