The Federal Government has directed all commercial banks, microfinance institutions and fintech platforms to begin the collection and remittance of a 7.5 per cent Value-Added Tax (VAT)on selected electronic banking service fees.
The directive, which takes effect on Monday, January 19, 2026, applies to charges incurred on electronic transactions rather than the actual amount being transferred.
The Nigerian Revenue Service, formerly known as the Federal Inland Revenue Service, said the move is part of efforts to standardise tax collection within Nigeria’s fast-growing digital economy.









