NRS compliance reset for a fast-growing trading and distribution company
Anonymised import and distribution company (South-South Nigeria)
Published May 11, 2026
Rapid expansion into new product lines had outpaced the finance team’s compliance routines. Multiple VAT periods were outstanding, WHT schedules did not tie to creditor balances, and staff were uncertain which NRS changes applied after the Nigeria Tax Act 2025 transition.
We performed a diagnostic review of open periods, quantified exposure, and prepared a phased remediation plan with management and their external legal adviser. Parallel workstreams covered registration updates, chart-of-account mapping for VAT lines, and template schedules for monthly remittances.
Training sessions were held for accounts payable and the commercial team on invoice requirements and WHT treatment on key vendor categories. A shared compliance calendar now drives monthly sign-off before payments are released.
Measurable outcomes
- Cleared backlog filings for prior VAT periods with agreed payment plans
- Monthly NRS remittance pack issued by the 10th business day each month
- WHT reconciliations aligned to creditor sub-ledgers within one quarter
- Zero penalties on newly filed periods in the six months post-engagement