FG Rolls Out E-Fiscal Platform to Curb Tax Evasion, Targets ₦5bn Turnover Firms in First Phase

The Federal Government has officially launched a national Electronic Fiscal System (EFS) to modernise tax administration, combat evasion, and improve transparency in Nigeria’s revenue collection.

According to the Federal Inland Revenue Service (FIRS), the EFS—featuring an electronic invoicing solution called the Merchant-Buyer System (MBS)—went live on August 1, 2025, following a pilot phase that began in November 2024.

The first rollout targets large companies with annual turnovers of ₦5 billion and above, enabling easier, faster, and more transparent tax compliance. The platform gives the FIRS real-time access to transaction data, ensuring invoices are authentic, accurate, and complete.

FIRS spokesperson Dare Adekanmbi said that within two weeks of launch, over 1,000 companies—about 20% of more than 5,000 eligible firms—had integrated with the platform.

The project is being implemented in collaboration with the National Information Technology Development Agency (NITDA), with approved service providers onboarded to act as system integrators and access point providers for taxpayers. These partners will support onboarding, integration, and invoice transmission.

The e-invoicing rollout will be phased, with medium-sized and emerging businesses to follow after the large taxpayer category. The initiative aligns with global best practices and the Nigeria Revenue Services Reform Act, aiming to boost revenue assurance, harmonise reporting, and close tax loopholes.

The FIRS said its e-Invoicing Implementation Team will continue engaging stakeholders via webinars, workshops, and town hall meetings ahead of the November compliance deadline.

President Bola Tinubu has made tax reform a central policy priority, establishing the Presidential Committee on Fiscal Policy and Tax Reforms led by Taiwo Oyedele. The committee is tackling multiple taxation, fragmented collection systems, and legal loopholes.

From January 2026, four new laws—including the Nigeria Tax Act and Tax Administration Act—will take effect, mandating digital taxpayer registration, stricter reporting, beneficial ownership disclosure, and transparency for tax-driven transactions.