ABUJA, Nigeria — The Nigeria Revenue Service (NRS) has shut down the operational headquarters of the leading fintech firm, OPay, in both Lagos and Abuja, citing significant breaches of the Nigeria Tax Act 2025.
The enforcement action took place early Wednesday after a targeted audit allegedly uncovered widespread non-compliance regarding Value Added Tax (VAT) and Company Income Tax (CIT). Officials from the NRS, accompanied by security personnel, placed “Sealed” notices on the premises, barring all staff and visitors from entering the buildings.
Tax Evasion Allegations
According to sources within the NRS, the fintech giant failed to remit statutory taxes despite several formal warnings and reminders. The specific allegations under the newly implemented 2025 tax regime include:
- VAT Non-Remittance: Alleged failure to collect and remit the mandatory 7.5% Value Added Tax on service fees, a requirement that became strictly enforced for digital operators as of January 19, 2026.
- CIT Compliance: Infractions related to the disclosure of assessable profits as mandated under the consolidated Nigeria Tax Act 2025.
- Mandatory Closure: Notices posted at the sealed offices explicitly state that the facilities cannot be reopened without authorized clearance from the NRS, which is contingent upon the full settlement of all outstanding liabilities and penalties.
The 2025 Tax Regime Enforcement
The crackdown is part of a broader “enhanced enforcement” drive by the Nigeria Revenue Service (formerly the FIRS) to bolster national revenue following the landmark tax reforms signed into law by President Bola Tinubu. Under the Nigeria Tax Administration Act 2025, the NRS has been granted expanded powers to seize the proceeds of tax fraud and shut down defaulting corporate entities.
OPay has yet to issue an official response to the sealing of its offices. However, the company has faced intense regulatory scrutiny in recent months, with the EFCC previously charging the management to prioritize compliance with all existing laws.
The NRS has warned other fintech operators and financial institutions that further enforcement actions are imminent for those failing to meet the March 31, 2026, deadline for filing annual tax returns.
