The Federal Inland Revenue Service (FIRS) has launched a reporting portal called "e-invoicing" for payment gateway companies operating in the Nigeria to to report all transactions passing through their systems for tax compliance oversight.
Some popular major gateway companies currently operating in the country are Flutterwave, Monnify, Paystack, Interswitch and Remita. These payment gateways are online platforms licensed by the Central Bank of Nigeria (CBN).
Payment gateways are companies that allow businesses of all types to process customer transactions online or in-store using various payment methods like bank cards, USSD, digital wallets like OPAY, and bank transfers. In other words, payment gateways offer a fast, reliable, and convenient ways for businesses to collect payments from their customers.
Now, FIRS is mandating all Nigerian payment gateways to report all transactions to FIRS for compliance monitoring.
During a 2-day workshop on the e-invoicing solution in Lagos where the reporting portal was announced, the Acting Director of Tax Automation at FIRS, Mike Adoga, said it is essential for payment gateway submissions to be routed through the FIRS Merchant Buying Solution (MBS) to ensure that all business transactions are properly processed.
Merchant Buyer Solution (E-Invoicing)
The Merchant Buyer Solution (MBS)—also referred to as the e-Invoicing system—is an electronic invoicing platform implemented by the FIRS to modernize, streamline and facilitate tax administration and issuance and management of electronic invoices.
It is a national project launched in mid-2025 by FIRS in partnership with the Nigeria Customs Service, Ministry of Finance, CBN, and the National Information Technology Development Agency (NITDA) as technology governance partner.
It’s built on the principles of real-time validation, structured data exchange, and integration with existing business systems to replace traditional paper-based and electronic invoices with structured digital invoices for all business transactions in Nigeria.
The FIRS e-invoicing monitoring system applies to businesses running various transaction types, including B2B, B2C, and B2G. However, as of August 1—the original deadline set by the FIRS—over 1,000 companies had reportedly joined the platform. Meanwhile, the agency has now granted a three-month extension and extended the new deadline to November 1, 2025.
In addition to that, FIRS has noted that there are currently around 5,000 companies with an annual turnover of ₦5 billion or more. The agency said that all companies with an annual turnover of ₦5 billion or more must onboard the e-invoicing platform.
Adoga cautioned taxpayers against failing to declare their invoices on the invoicing platform, stressing that all payment gateways are now mandated to report every payment they process to the authorities. He revealed that currently, only about 10% of taxable transactions are being captured, which is far from ideal for the country’s revenue goals.
According to him, the new frameworks have been put in place precisely to make compliance easier and ensure that more transactions are properly recorded and taxed. He explained that the goal of e-invoicing is to track all transactional data accurately and minimize disputes during tax filings.
