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New Tax laws: FG bans cash tax collection, roadblocks

Tax

By Nana Musa

Abuja, March 3, 2026 (NAN) The Federal Government has prohibited cash collection of taxes and banned the mounting of roadblocks for revenue enforcement, as part of fresh regulations to implement Nigeria’s new tax laws nationwide.

The Executive Secretary (ES) of the Joint Revenue Board, Mr Olusegun Adesokan, made this known during the signing of the Presumptive Tax Regulations and Guidelines on the Implementation of the Tax Laws in Abuja on Tuesday.

He said that the new framework was designed to end informal, coercive and fragmented tax practices, particularly at the subnational level.

“It bans all forms of cash collection by tax authorities.

“It also bans the mounting of roadblocks for the collection of taxes,” he said.

Adesokan said that the regulations would entrench transparency and equity in tax administration, especially within the commerce and informal sectors.

“These regulations are another demonstration of his commitment to taxing prosperity and not poverty,” the ES said.

He said that nano and small businesses with an annual turnover of N12 million below would be exempted under the presumptive tax regime.

“Our nano and small businesses with an annual turnover of N12 million and below are exempted from tax,” Adesokan said.

He said that the framework introduced a one per cent tax rate on turnover for other categories of informal businesses, while encouraging the use of technology-driven payment systems.

“It also introduces a tax rate of one per cent of turnover on all other categories of informal businesses,” he said.

Adesokan noted that the guidelines provided a uniform structure for subnational governments in taxing the commerce sector and integrating operators into the formal system through a Tax Identification platform.

“These regulations constitute the framework for taxing the commerce sector.

” The alignment of states behind the framework signalled a coordinated national approach,” he said.

The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, said that the signing marked a transition from legislative approval to operational enforcement of the tax reforms enacted in 2025 and early 2026.

“With the signing of these regulations, we are transitioning from regulation to structured implementation of the tax reforms,” Edun said.

He said that the regulations was a simple and transparent framework for applying presumptive tax anchored on transparency, fairness, clarity, indeed, equity, and economic inclusion for Nigerians.

“Our aim is to ensure consistency, prevent arbitrary assessments and to protect small businesses while ensuring the continuous growth of the Nigerian economy,” the minister said.

Edun said that the reforms were not intended to raise tax rates but to broaden the tax base in a structured manner.

“We will expand the tax base, not raising taxes, but expanding so that each bears his rightful contribution to the common cause,” he said.

The minister said that the regulations were developed in collaboration with the Joint Revenue Board to ensure alignment across federal, state and local governments.

“Our role is to ensure that tax administrations are coordinated, not fragmented, deliver results and impact to all Nigerians,” Edun said.

The minister said that the reforms bring broader growth objectives, adding that the economic expansion had exceeded four per cent in the last quarter of 2025 but required further acceleration.

“We are trying to get to seven per cent GDP growth, the President’s said the target by 2030 is one trillion dollars economy,” Edun said.

He said that the implementation would be closely monitored to safeguard fairness, and an ombudsman mechanism had been introduced.

The Chairman of the National Tax Policy Implementation Committee, Mr Joseph Tegbe, said that the signing was a decisive shift from policy intention to practical execution.

He said that the reforms were not about imposing new burdens but correcting distortions in the system.

“It is not about imposing new volumes but restoring order where there has been fragmentation and replacing arbitrariness with transparency, ” the chairman said.

Tegbe said that the informal sector employs more than 80 per cent of Nigeria’s workforce but has historically contributed little to structured public revenue due to systemic weaknesses.

“The informal sector employs more than 80 per cent of the workforce yet its contribution to structured public revenue has been disproportionately low, not because they are unwilling to pay but because our framework was either too complex or did not reflect operational realities,” he said.

Tegbe said that sustainable development required sustainable revenue mobilisation and that the committee would work with tax authorities to ensure disciplined and transparent rollout of the new framework.(NAN) (www.nannews.ng)

Edited by Yakubu Uba

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New Tax laws: FG bans cash tax collection, roadblocks