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Nigerian Govt to Rebrand FIRS as NRS Under New Bill
EKO HOT BLOG reports that the name change is part of the Nigeria Revenue Service Establishment Bill, currently before the National Assembly, which seeks to replace the FIRS Establishment Act with new legislation to establish the NRS.
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Speaking to stakeholders, including tax consultants and Chief Financial Officers (CFOs), Oyedele clarified that FIRS serves as a revenue agency for the entire federation, not just the federal government.
FIRS
He emphasised that taxes collected by FIRS are deposited into the Federation Account, highlighting the agency’s national responsibility.
Oyedele further explained that one of the key goals of the proposed reforms is to separate regulatory functions from tax collection.
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He stated, “The Nigeria Revenue Service Establishment Bill aims to repeal the FIRS Establishment Act and create the NRS. The FIRS is not a purely federal agency; its collections serve the entire Federation.
The name FIRS no longer accurately reflects its role. Renaming it to NRS aligns with its responsibility for administering taxes, levies, and revenues on behalf of the government. Moreover, we intend to ensure that regulators are not directly involved in tax collection.”
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