By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
News.ngNews.ng
  • Home
  • World
  • Business
  • Entertainment
  • Politics
  • Sports
Search

Archives

  • May 2025
  • April 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022

Categories

  • Business
  • Celebrities
  • Crypto News
  • Education
  • Entertainment
  • Finance
  • Health
  • Lifestyle
  • News
  • Politics
  • Sponsored
  • Sports
  • Tech
  • Technology
  • Video
  • World
© 2022 News Network. All Rights Reserved.
Reading: FIRS Mandates Banks to Close Unauthorized Tax Collection Accounts
Share
Notification Show More
Latest News
Atiku slams Tinubu’s “Nigeria First” Agenda As Hollow PR Stunt 
Atiku slams Tinubu’s “Nigeria First” Agenda As Hollow PR Stunt 
Politics News
UCL: Inter Snatch Champions League Final Spot in Thrilling Extra-Time Victory Over Barcelona
UCL: Inter Snatch Champions League Final Spot in Thrilling Extra-Time Victory Over Barcelona
Sports News
Nigerian Stock Market Soars 1.56%, Hits New High of 108,361.10 Points
Nigerian Stock Market Soars 1.56%, Hits New High of 108,361.10 Points
News
Nigeria Must Revise Trade Policies in Response to US Protectionism, NESG Advises
Nigeria Must Revise Trade Policies in Response to US Protectionism, NESG Advises
News
Oil Markets Recover Following OPEC+ Production Increase
Oil Markets Recover Following OPEC+ Production Increase
News
Aa
News.ngNews.ng
Aa
  • Home
  • World
  • Business
  • Entertainment
  • Politics
  • Sports
Search
  • Home
  • World
  • Business
  • Entertainment
  • Politics
  • Sports
Follow US
© 2022 News Network. CMG Ltd. All Rights Reserved.
FinanceNews

FIRS Mandates Banks to Close Unauthorized Tax Collection Accounts

Kenneth Afor
Last updated: 2025/04/29 at 8:35 PM
Kenneth Afor
Share
4 Min Read
FIRS Mandates Banks to Close Unauthorized Tax Collection Accounts
SHARE

The Federal Inland Revenue Service (FIRS) has issued a directive requiring all Nigerian banks to identify and shut down any tax and levy collection accounts not authorized under the agency’s TaxPro Max system.

This new mandate was communicated through an official notice from FIRS Executive Chairman Zacch Adedeji, which was distributed to media outlets on Monday by his Special Adviser on Media, Dare Adekanmbi. The initiative is part of the agency’s broader strategy to strengthen transparency, accountability, and operational efficiency in Nigeria’s tax administration framework.

The FIRS announcement clarifies that all tax and levy collections must now be processed solely through the TaxPro Max platform—a digital solution implemented to centralize and automate tax administration processes nationwide.

In the notice, titled “Directive to Close Unauthorised FIRS Tax Collection Accounts,” the agency made it clear that any collection accounts operating outside the TaxPro Max ecosystem are deemed unauthorized and must be discontinued immediately.

The directive specifically states:
“Effective immediately, all tax and levy collections on behalf of FIRS must be processed exclusively under an assessment raised on the TaxPro Max platform.”

It further advises:
“All banks participating in the FIRS Collection, Remittance, and Reconciliation Scheme are hereby advised to comply with this directive within the stipulated period.”

The notice concludes:
“We count on your cooperation to ensure a smooth transition to this centralised system, thereby contributing to a more transparent and efficient tax collection process.”

The agency emphasized that participating financial institutions must only process transactions generated through TaxPro Max assessments. This approach aims to enable real-time reconciliation of collections, reduce revenue leakages, and support the agency’s digital transformation agenda.

News.ng reports that TaxPro Max represents a domestically developed, comprehensive digital tax administration solution designed to facilitate complete tax management activities. The platform supports functions including taxpayer registration, return filing, payment processing, automatic receipt issuance, and tax clearance certificate generation.

Since its implementation, TaxPro Max has become an essential component of FIRS’s modernization strategy, helping to minimize human intervention in tax processes while enhancing compliance ease for taxpayers.

By requiring exclusive utilization of this platform, FIRS seeks to eliminate the proliferation of multiple collection channels and standardize tax assessment, collection, and reconciliation procedures.

This directive requires banks to integrate their internal tax collection mechanisms with the TaxPro Max system to maintain regulatory compliance. Financial institutions failing to adhere to this requirement could face penalties or exclusion from future FIRS tax collection activities.

For taxpayers, this transition means all FIRS payments must now originate from assessments generated within the TaxPro Max portal. Any payments made through unauthorized channels or accounts will be considered invalid and may result in penalties.

To facilitate this transition, FIRS has encouraged both taxpayers and financial institutions seeking clarification to contact its Revenue Accounting and Refund Department (RAAD).

This directive represents a significant advancement in Nigeria’s efforts to strengthen tax collection processes and minimize unauthorized revenue leakages. It also demonstrates FIRS’s commitment to leveraging technological solutions to enhance transparency and accountability throughout the nation’s tax ecosystem.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share this Article
Facebook Twitter Copy Link Print
Share
Posted by Kenneth Afor
A graduate of Mass Communication from Yaba College of Technology with over four years in journalism (print and electronic) in several beats including business, politics, sports and entertainment.
Previous Article Nigeria's Non-Oil Exports Hit $1.79B in Q1 2025 Amid Push for Revenue Diversification Nigeria’s Non-Oil Exports Hit $1.79B in Q1 2025 Amid Push for Revenue Diversification
Next Article Unilever Nigeria Reports 146% Profit Surge in Q1 2025 Unilever Nigeria Reports 146% Profit Surge in Q1 2025

Latest News

Atiku slams Tinubu’s “Nigeria First” Agenda As Hollow PR Stunt 
Atiku slams Tinubu’s “Nigeria First” Agenda As Hollow PR Stunt 
UCL: Inter Snatch Champions League Final Spot in Thrilling Extra-Time Victory Over Barcelona
UCL: Inter Snatch Champions League Final Spot in Thrilling Extra-Time Victory Over Barcelona
Nigerian Stock Market Soars 1.56%, Hits New High of 108,361.10 Points
Nigerian Stock Market Soars 1.56%, Hits New High of 108,361.10 Points
Nigeria Must Revise Trade Policies in Response to US Protectionism, NESG Advises
Nigeria Must Revise Trade Policies in Response to US Protectionism, NESG Advises
//

We influence millions of users and are the leading news network in Nigeria.

More About News.ng

  • About
  • Contact
  • Advertise
  • Ethics Policy
  • Careers

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

I have read and agree to the terms & conditions
News.ngNews.ng
Follow US

© 2022 News Network. All Rights Reserved.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?