Nigerian govt launches electronic fiscal system to curb tax evasion

The Federal Government has commenced the implementation of a national Electronic Fiscal System (EFS) aimed at modernising Nigeria’s tax administration, curbing evasion, and improving transparency in revenue collection.

The Federal Inland Revenue Service (FIRS) confirmed that the EFS, which features an electronic invoicing solution known as the Merchant-Buyer Model (MBM), came on stream on August 1 following a pilot phase that began in November 2024.

In the first phase, the system targets large companies with an annual turnover of ₦5 billion and above.

By Mayowa Oladeji

Full story at Ripples of NG