Swiping Left on Monopoly Claims
The Federal Inland Revenue Service (FIRS) spent the weekend batting away political curveballs after former Vice-President Atiku Abubakar labelled the agency’s new fintech channel, Xpress Payments, a “dangerous cartel.” For background context, refer to Introduction To Nigerian Tax Laws. In a sharply worded rebuttal, FIRS insisted the move is just another swipe at the payment POS, not a power grab.
The Big Picture: Efficient collection is the lifeblood of Tinubu-era reforms, and any hint of favouritism could spook taxpayers already bracing for a tougher regime in 2026. FIRS fears the “monopoly” narrative could chill compliance just as the 2025 laws digitize every stage of filing and payment.
The Details:
• FIRS “currently utilizes a multi-channel framework” that includes Quickteller, Remita, Flutterwave and others, Technical Assistant Aderonke Atoyebi told Premium Times.
• The agency stressed that Payment Solution Service Providers “do not act as revenue collectors and do not retain a percentage of government revenue,” echoing points later repeated to BusinessPost.
• All funds land straight in the Federation Account, and no single gateway enjoys exclusivity, FIRS added in a separate clarification to The Nation.
Why It Matters / What They’re Saying:
The reaction was swift because trust is the secret sauce of any tax overhaul. FIRS fears the “monopoly” narrative could chill compliance just as the 2025 laws digitise every stage of filing and payment. “His assertions are incorrect, misleading, and risk unnecessarily politicizing a purely administrative process,” the agency warned. For professionals advising clients on the new portals, the takeaway is clear: more channels, not fewer, are coming.
Around the Tax World
• Kogi goes copy-paste: The state’s revenue boss urged lawmakers to domesticate the Nigeria Tax Act & Administration Act before the January 2026 start date, calling the federal reform a “great opportunity” for compliant businesses (Voice of Nigeria).
• Auto-debit for mystery money: Presidential tax adviser Taiwo Oyedele said bank accounts with “unexplained income” could face automatic tax deductions once enabling rules kick in next year (Peoples Gazette).
• Court hits reset: A Federal High Court set aside a ₦5.3 billion judgment against Abuja Electricity Distribution Company, citing bias and ordering FIRS back to the litigation drawing board (Nairametrics).
By the Numbers
Tax Stat of the Day: ₦1.48 trillion, the Value Added Tax haul logged in September and October 2025, according to FAAC figures highlighted by Zawya. That’s proof consumer spending is holding up despite inflation pains.
Looking Ahead
All eyes are now on the National Assembly’s rule-making sprint. With full digitisation and new rates slated for 1 January 2026, the next six weeks will determine whether taxpayers log in or log out.
Prepared by MyTax - mytax.com.ng