Nigeria Introduces New VAT, Stamp Duty, and Bank Fees in 2026

The Nigerian financial landscape is evolving with the introduction of new charges such as a 7.5% Value Added Tax (VAT), ₦50 stamp duty, and revised bank fees starting January 19, 2026. These changes affect electronic bank services, with VAT applied to certain charges.

The Nigerian Revenue Service (NRS) will collect the tax, impacting transactions like transfers and alerts. The reforms aim to increase revenue but may lead to higher costs for bank users.