Nigeria Revenue Service (NRS) has set a July 31 deadline for all large taxpayers to wholly adopt the national e-invoicing and electronic fiscal system (EFS)- called digital exchange of structured invoice data between a supplier and a buyer.

This is sequel to a public notice issued by NRS on February 17, 2026 on the implementation timeline and the mandatory adoption of the national e-invoicing and EFS otherwise known as the Merchant Buyer Solution (MBS).

Zacch Adedeji, chairman, NRS, personally signed the public notice informing all large taxpayers of the need to complete the onboarding, integration, testing, and commencement of invoice transmission to the NRS e-invoicing platform in accordance with the prescribed implementation framework.

According to a statement issued on Sunday by Dare Adekanmbi, special adviser on Media to the chairman, “NRS has already commenced compliance monitoring activities in order to assess the level of adherence to the e-invoicing mandate among large taxpayers.

“Consequently, any defaulting member may be subjected to appropriate regulatory and enforcement actions in accordance with the provisions of the relevant tax laws and regulations.

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“Affected taxpayers are, therefore, advised to urgently conclude all outstanding onboarding and integration activities and commence invoice transmission before the compliance deadline.

“The NRS appreciates the cooperation of taxpayers and remains committed to providing the necessary support to ensure the successful implementation of the national e-invoicing regime,” the notice said.

Large taxpayers are companies with gross turnover of N5 billion and above.

As of the first quarter of this year, over 1,000 companies had complied.

Compliance with the e-invoicing and Electronic Fiscal System covers the completion of onboarding on the NRS Merchant Buyer Solution (MBS) and successful integration of taxpayer systems through approved Access Point Providers (APPs) and/or systems Integrators (SIs).

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Others are completion of all required validation and testing activities; active transmission of invoices to the NRS e-invoicing platform in line with approved standards and guidelines; and ensuring the receipt of only compliant e-invoices with valid Invoice Reference Number (RIN) from suppliers.

Access Holdings Plc has completed the sale of a 7.44% stake in its Ghanaian subsidiary, a move believe is tied to a Central Bank of Nigeria (CBN) rule capping how much local banks can hold in foreign units.

This was disclosed in a filing with the Ghana Stock Exchange (GSE) recently, which was obtained by our reporter over the weekend.

The corporate disclosure signed by the Company Secretary, Helen De Cardi Nelson, Access Bank (Ghana) Plc, stated that the outcome of the transaction reflects continued investor interest in Access Bank (Ghana) Plc and confidence in the long-term prospects of the Bank.

According to the release, the sale attracted strong participation from a well-diversified pool of investors, including pension funds, institutional investors and high-net-worth individuals.

Access Bank (Ghana) Plc, listed on the Ghana Stock Exchange, disclosed that its parent, Access Bank Plc, sold 12,085,318 ordinary shares representing 7.44% of the unit’s issued shares on July 15, 2026.

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The sale went through the Ghana Stock Exchange with regulatory clearance, including a no-objection from the Bank of Ghana.

Buyers included pension funds, institutional investors, and high-net-worth individuals. IC Securities (Ghana) Ltd acted as adviser and executing broker.

Commenting on the deal, Managing Director of Access Bank (Ghana), Ms. Pearl Nkrumah, said the transaction deepens local ownership and liquidity in the bank’s shares, and keeps management focused on turning its scale into value for stakeholders.

Before the sale, Access Bank Plc held 93.40% of Access Bank Ghana, with the remaining 6.60% already in the hands of other shareholders from the unit’s GSE listing.

Stake sold: 7.44%; Estimated holding after the sale: 85.96%; Public and other investors: approximately 14.04%

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Access Holdings therefore retains firm majority control of its Ghanaian unit; this is a partial dilution, not an exit.

Central Bank of Nigeria (CBN) has launched a new digital platform to track every foreign exchange transaction involving Bureaux De Change (BDC) operators, marking a major step in its efforts to improve transparency and strengthen oversight of the country’s retail forex market.

In an operational guidance issued on July 15 to authorised dealer banks and licensed BDCs, the apex bank introduced the FX BDC Purchase Tracker (FXBT), a centralised electronic portal designed to monitor foreign exchange purchases by BDCs from the point of request through approval, settlement and eventual sale.

The CBN said the portal will require BDCs to upload real-time or same-day data on all FX purchases made through the Nigerian Foreign Exchange Market (NFEM), giving the regulator transaction-level visibility across the retail FX market.

According to the bank, the platform is designed to prevent abuse by making it easier to detect operators attempting to exceed the weekly purchase limit of $150,000, obtain allocations from multiple banks or divert foreign exchange outside approved channels.

The launch of the tracker builds on the CBN’s February policy that restored direct access for licensed BDCs to purchase foreign exchange from authorised dealer banks through the NFEM. While that policy improved access to official FX, the new platform provides the digital infrastructure to monitor how the funds are used.

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Under the new framework, authorised dealer banks must conduct comprehensive Know-Your-Customer (KYC) and customer due diligence checks before selling foreign exchange to any BDC.

The new guideline also says banks must verify beneficial ownership information, retain incorporation documents and carry out enhanced due diligence for higher-risk operators.

Any BDC that fails these checks will not be allowed to access official foreign exchange.

The guidance also requires banks to acknowledge BDC purchase requests submitted through the FXBT portal within two business hours and immediately notify operators whether their requests have been approved or rejected.

To discourage speculation, the CBN directed that any forex purchased through the NFEM but left unused must be sold back into the market within 24 hours after the expiration of the utilisation period.

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BDCs are also required to disclose any previously unused balances when submitting fresh requests.

In addition, all foreign exchange transactions between banks, BDCs and customers must be settled through registered accounts with licensed financial institutions.

Third-party transactions are prohibited, and any transfer outside a BDC’s registered settlement account will be treated as a regulatory violation.

The apex bank also said all authorised dealer banks and licensed BDCs are expected to comply with the new regulatory guidance and operational procedures with immediate effect.

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