The Federal Government has launched a national Electronic Fiscal System (EFS) to modernise tax administration, reduce evasion, and improve transparency in revenue collection.
The Federal Inland Revenue Service (FIRS) confirmed that the platform, featuring an e-invoicing solution called the Merchant-Buyer System (MBS), officially went live on August 1, 2025, after a successful pilot phase that began in November 2024.
Targeting large businesses with annual turnovers of ₦5 billion and above, the system offers real-time visibility of commercial transactions and ensures invoices are authentic, accurate, and complete.
FIRS Media Adviser, Dare Adekanmbi, revealed that within two weeks of launch, 1,000 companies (20% of the over 5,000 eligible firms) had adopted the platform. MTN Nigeria became the first company to transmit live e-invoices, followed by test transmissions from Huawei and IHS Nigeria.
The deadline for full onboarding has been extended to November 1, 2025, to accommodate firms facing operational delays.
