The Lead Story
Enforcement Avengers Assemble
The Federal Inland Revenue Service just called in heavy backup. In a fresh push to squeeze every naira of overdue tax, the agency has formalised an alliance with the Economic and Financial Crimes Commission (EFCC), a move MSN says is already fortified by a Court of Appeal ruling that gives the graft-busters more bite in tax-fraud cases.
FIRS says the partnership will help it smash the all-time revenue record after already netting nearly ₦20 trillion by August 2025. The agency is also set for a January 2026 glow-up: the pending Tax Acts will rebadge it as the Nigerian Revenue Service (Nigeria Revenue Service (Establishment) Act, 2025), broadening its mandate and (crucially) its enforcement powers.
“The collaboration is critical for meeting our targets,” an unnamed FIRS official told MSN, adding that complex cases now go straight to EFCC investigators instead of languishing in civil court.
Tax professionals are reading the room. For more information on compliance and the evolving tax framework, check out our Introduction To Nigerian Tax Laws. Closer EFCC scrutiny means larger corporations could face criminal exposure, and mid-sized businesses that relied on “process delays” may find that window slammed shut. Andrew, a Lagos-based tax adviser, summed it up: “If you’re not compliant by 2026, you’re basically inviting a raid.”
Around the Tax World
- MTN’s mega bill. A roaring return to profit flipped MTN Nigeria’s tax line from a ₦198.7 billion credit last year to a ₦376.3 billion expense for the first nine months of 2025 (Punch).
- Reforms with a side of listening tour. Finance Minister Wale Edun promised “open consultation” with businesses before the 2026 Tax Acts take effect (Punch).
- Haulage relief incoming. The new regime will scrap more than 260 official and unofficial road levies, saving logistics operators “millions in extortion fees,” according to committee chair Taiwo Oyedele (The Nation).
- Diaspora cash stays untaxed. Oyedele also clarified that remittances and foreign-earned income sent home by Nigerians abroad will remain exempt (MSN link here).
By the Numbers
Tax Stat of the Day: ₦20 trillion, the amount FIRS collected by August 2025, already eclipsing full-year 2024 takings (MSN).
Looking Ahead
All eyes now turn to January 1, 2026, when the new Tax Acts kick in and FIRS morphs into the Nigerian Revenue Service. Expect a flurry of guidance and perhaps a few high-profile EFCC raids, before the ball drops, as detailed under the reforms in the Nigeria Tax Administration Act, 2025.