Economy
Over 4,000 Companies Yet To Complete E-Invoicing System Onboarding: FIRS
Over 4,000 Companies Yet To Complete E-Invoicing System Onboarding: FIRS
Over 4,000 companies yet to complete e-invoicing system onboarding: FIRS. The Federal Inland Revenue Service (FIRS) says more than 4,000 large taxpayers in Nigeria are yet to complete the onboarding process on the new electronic invoicing (e-invoicing) platform.
Mohammed Bawa, the project manager for the FIRS e-invoicing implementation, spoke on Thursday at the post-go-live e-invoice workshop for stakeholders.
The tax agency had announced the launch of the e-invoicing system on August 10. The initiative is expected to improve tax compliance and modernise revenue collection in Nigeria.
Bawa told journalists that the launch began with large taxpayers and only 1,000 of them have completed onboarding since the August deadline.
The project manager said the agency decided to extend the compliance deadline to November 1 to allow more time for onboarding and to provide guidance to companies on the integration process.
“Between the 1st of August to date, we have over 1,000 large taxpayers that have onboarded and commenced their integration, and we still have over 4,000 to do the onboarding,” Bawa said.
“So, FIRS felt it necessary to give an extension, an opportunity to those who have not been onboarded to be onboarded on the system.”
The FIRS official said the e-invoicing system is designed to promote transparency and improve Nigeria’s low tax-to-gross domestic product (GDP) ratio by capturing more economic activities, curbing under-declaration, and reducing tax evasion.
The innovation, Bawa said, will also help to formalise the informal sector, ensuring that more businesses are brought into the tax net.
“Formalisation will also help the businesses to grow, because these businesses cannot remain informal forever. Once they formalise, we’ll have more taxpayers in the tax net,” he said.
“If they remain within the informal sector, they will forever escape the tax net, and then the large taxpayers will continue to bear the burden of tax, because the majority of people doing business are outside the tax net.”
’16 SERVICE PROVIDERS CERTIFIED’
Also speaking, Emmanuel Eze, director of change management at the FIRS, said the 1,000 large taxpayers that have successfully onboarded represent only 20 percent of the target group.

FIRS
He said the agency has certified 16 service providers to act as both system integrators and access point providers (APPs) in the ecosystem, noting that the first live invoice transmissions were from pioneering organisations such as MTN Nigeria, Huawei Nigeria, and IHS Nigeria.
Eze, represented by Tayo Koleosho, chief of staff to the FIRS executive chairman, said the extension to November 1 should not be seen as an opportunity to delay but as a chance for stakeholders to complete integration, test transmissions, and ensure system readiness ahead of enforcement.
‘NEW E-INVOICING PLATFORM WILL ENABLE FIRS TO TRACK ALL BUSINESS TRANSACTIONS’
On his part, Mike Adoga, the acting director of the FIRS tax automation department, described the platform as an ecosystem involving taxpayers, system integrators, and access point providers.
According to Adoga, system integrators make taxpayers’ accounting and enterprise resource planning (ERP) systems compatible with the e-invoicing platform, while APPs handle secure transmission of invoices and ensure they are validated by the FIRS.
“What that translates into is that for every transaction that passes through that system, FIRS is aware of that transaction,” he said.
“So, we have an idea of what your tax liability is going to look like when it comes to your filing period.”
The acting director said the rollout is starting with large taxpayers — those with annual turnover of N5 billion and above — because their accounting systems are easier to integrate.
He added that plans to onboard small and medium enterprises (SMEs) and lower-turnover businesses will follow later.
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.
The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.
Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.
He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.
“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly
“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”
Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.
Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.
He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.
Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.
Crime
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video
EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Tuesday, February 3, 2026 arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.
Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC
Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.
The suspect will be charged to court upon conclusion of investigations.
Dele Oyewale
Head, Media & Publicity
February 3, 2026
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank Gets New Board Chair Ifeyinwa Osime
Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.
Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.
Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.
Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.
She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

Access Bank Gets New Board Chair Ifeyinwa Osime
Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.
“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”
Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.
-
Crime9 months agoKogi Assembly Considers Law To Regulate Rent, Establish Control Board: Tenancy Law
-
News10 months agoAtiku Reveals Why He Failed To Pick Wike As Running Mate In 2023
-
Crime12 months agoFederal High Court Jails 2 For Vandalizing Transformer, Telecom Mast In Kogi
-
Akwa Ibom1 year agoThe Apostolic Church Gets New Territorial Chairman, Exco
-
News12 months agoThe Apostolic Church Gets New National President, Executive
-
Akwa Ibom1 year agoUmo Eno Commences Payment Of 80,000 Naira Minimum Wage With Arrears
-
News11 months agoSenator Natasha Returns To Senate With Husband Amid Seat Dispute
-
Economy9 months agoKiyosaki: Is Tinubu’s Government Afraid Of Ibrahim Traore?
