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What the 7.5% VAT actually means for your wallet

For Nigerians, it’s hard to ignore the rumours about an additional 7.5% Value Added Tax (VAT) on banking transactions. It all ...
Business Day

Nigeria’s Tax Act does not impose new VAT on banking charges – NRS

The Nigeria Revenue Service (NRS) has clarified that the new Tax Act did not introduce any new or additional Value Added Tax ...

Simple Guide To Indirect Tax

Indirect taxes are a vital part of buying and selling things. Unlike direct taxes, indirect tax is only paid by the customer ...
The Nigerian Voice

Banks Set To Deduct 7.5% VAT On Mobile Transfers, USSD Transactions From January 19

Nigerian bank users will begin paying a 7.5 per cent Value Added Tax (VAT) on selected banking services, including mobile ...
Daily Post Nigeria

VAT tax on banking services not new – Nigeria Revenue Service

The Nigeria Revenue Service, NRS, has clarified that the Value Added Tax, VAT, applied to banking services is not a new ...
Tribune Online on MSN

Banks begin deduction of N3.75 VAT on card maintenance fee

NIGERIAN banks have commenced the deduction of a 7.5 per cent Value Added Tax (VAT) on selected electronic banking charges, including card maintenance fees, ahead of the January 19, 2026 effective ...