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The Nigeria Revenue Service (NRS) will now be responsible for collecting mineral royalties, following the enactment of new tax laws. The Ministry of Solid Minerals Development will retain technical and regulatory oversight.
Wale Edun, Nigeria's Minister of Finance, and Zacch Adedeji, Executive Chairman of the Nigeria Revenue Service, called for immediate reforms to combat capital flight and enhance domestic resource mobilization during a recent event on tax and financial flows.
OPay has rejected the circulating reports claiming that its Lagos and Abuja offices were sealed by the Nigeria Revenue Service over tax infractions, labeling these allegations as erroneous. The fintech firm affirms that its operations continue uninterrupted.
The Nigeria Revenue Service has announced a revenue goal of N40.71 trillion for 2026, marking a 44% increase from the previous year's target. This comes after surpassing the revenue expectations for 2025 by 12%.
The Nigeria Revenue Service has stepped in to clarify concerns regarding the imposition of Value Added Tax (VAT) on banking services, asserting that no new taxes on bank transfers or customer funds have been implemented, despite recent media reports.
