NRS sets July 31 e-invoicing deadline

The Nigeria — Nigeria Revenue Service (NRS) has set July 31, 2026, as the deadline for all large taxpayers (companies with annual gross turnover of N5 billion and above) to fully adopt the national e-invoicing and Electronic Fiscal System (EFS), also known as the Merchant Buyer Solution (MBS). The directive follows a public notice issued on February 17, 2026, and replaces an earlier June 30 deadline. NRS Chairman Zacch Adedeji signed the notice, and the agency has commenced compliance monitoring. Defaulters face regulatory sanctions, including a N200,000 penalty per non-compliant transaction and potential loss of VAT input credit claims. As of Q1 2026, over 1,000 companies had complied, out of an estimated 5,000 affected. The e-invoicing regime aims to improve tax transparency, reduce revenue leakages, and provide real-time transaction visibility. Medium-sized businesses (N1 billion to N5 billion turnover) will be phased in next.