In 2025, eTranzact Plc, one of Nigeria's foremost fintech companies, processed transactions exceeding N103 trillion, as revealed by Adedayo Adejokun, the firm's Head of Federal Government Partnership, during a workshop in Abuja.
The announcement was made at a one-day e-invoicing Compliance Workshop and Stakeholder Engagement held in partnership with the Nigeria Revenue Service (NRS).
E-invoicing refers to a digital format of documenting transactions between suppliers and buyers, including key details like party information, item descriptions, quantities, prices, taxes, and total costs.
Last year, the NRS, previously known as the Federal Inland Revenue Service, recognized eTranzact as a provider for its nationwide e-invoicing initiative.
Adejokun pointed out that the N103 trillion processed through the eTranzact platform in 2025 spanned across various banks, government entities, and businesses.
She stated, “We processed over N103 trillion on our platform in 2025, a significant achievement for a platform that facilitates transactions, and this follows several global acknowledgments, including recognition from Silicon Valley.”
Abubakar Achimugu, the Executive Director of eTranzact, addressed the audience, emphasizing the company's commitment to streamline e-invoicing processes for users, ensuring prompt onboarding and hassle-free transaction uploads.
He remarked, “We have collaborated with the NRA for numerous years, being a key platform for revenue collection in the country, particularly regarding VAT funds. Our services are exceptional, seamless, secure, and trusted.
“Transitioning to e-invoicing will digitalize our previous manual processes. Our platform is user-friendly, making it accessible to individuals regardless of their literacy levels.
“This system is designed to prevent multiple taxation for users, allowing them to track their payments and maintain proper documentation.
“We also provide a range of applications that operate on both middleware and front-end systems, enhancing user experience.
“The eTranzact platform offers continuous support and same-day onboarding for hassle-free e-invoice submissions to the NRS portal,” Achimugu explained.
Regarding infrastructural challenges tied to implementing e-invoicing, Mohammed Bawa, the Project Manager for E-invoicing at NRS, asserted that the rollout will occur in carefully planned phases to address potential issues.
“We anticipated some challenges at the project's inception,” he shared, noting that implementation would be divided into three segments catering to large, medium, and emerging taxpayers.
“With a three-year strategy underway, we have dedicated the past year exclusively to engaging large taxpayers and organizing various workshops to simplify their transition, recognizing that it can be challenging.
“Our current aim is to facilitate compliance for taxpayers, which is why we have accredited a variety of service providers to assist them with any difficulties they may face.
“We encourage taxpayers to utilize these endorsed service providers, such as eTranzact, who have successfully passed our accreditation process and demonstrated viable solutions.
“These providers are optimally equipped to assist with the implementation, ensuring that the adoption of e-invoicing is efficient and straightforward for taxpayers,” Bawa concluded.
He also mentioned that the NRS would persist in educating Nigerians on its initiatives and their advantages for the nation.
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