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FG Issues New Tax Order To Reduce Interest Rate For Late Payment
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Fusion42 · 24 September 2026 · Fusion42 review
The Nigerian Federal Government issued a new tax order effective 1 October 2026 that reduces the interest rate for late payment of tax by linking it to market rates, specifically the Central Bank of Nigeria’s Monetary Policy Rate plus one percentage point for Naira taxes and SOFR plus six percentage points for foreign currency taxes.
This Wire brief sits within Fusion42's coverage of Fintech.
◆ ◆ The Wire takeaway
Nigeria’s tax payment cost just aligned with market borrowing rates, so you must factor this change immediately into your cash flow planning to avoid penalties and lost market opportunities.
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1 source · 24 Sep 2026
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