compliance

Lagos State has begun implementing a 5% withholding tax on gaming winnings in line with federal tax regulations, as Nigerian authorities intensify revenue mobilization efforts ahead of stricter compliance requirements for 2026 business filings.

Nigerian regulatory bodies are strengthening oversight mechanisms with the Financial Reporting Council enforcing mandatory audit firm registration from April 1, while the electricity regulator introduces structured complaint resolution protocols.

Nigeria's central bank has introduced stringent penalties under its revised sanctions regime, targeting commercial banks that bypass accredited cheque printing standards in a move to strengthen payment system integrity.