VAT ON USSD TRANSACTIONS IN NIGERIA – BANKS, FINTECHS, AND THE NEW 7.5% VAT MANDATE…
The Federal Government of Nigeria is implementing a 7.5% Value-Added Tax (VAT) on fees for various electronic banking services, including USSD (Unstructured Supplementary Service Data) transactions, mobile transfers, and card-related fees. Effective January 19, 2026, banks and fintech companies are required to collect…
