February 17, (THEWILL) — eTranzact International Plc has expressed strong support for the phased rollout of the National Revenue Service (NRS) electronic invoicing initiative, describing the move as a critical step toward improving tax administration, transparency, and digital compliance across the country.
The e-invoicing framework, being introduced by the National Revenue Service (NRS), is designed to automate invoice reporting, enhance real-time transaction monitoring, and reduce revenue leakages.
The phased implementation approach is expected to give businesses adequate time to align their systems with the new regulatory requirements while minimizing disruption to operations.
According to eTranzact, the initiative aligns with its broader mission of advancing secure digital payment infrastructure and supporting government efforts to modernize fiscal systems in Nigeria.
The company noted that e-invoicing will not only strengthen compliance but also foster greater accountability and efficiency within the business ecosystem.
Industry analysts say the collaboration between fintech providers and tax authorities is crucial to the success of digital tax reforms.
By leveraging established payment platforms and transaction processing systems, the NRS can accelerate adoption and ensure seamless integration for businesses of varying sizes.
eTranzact reaffirmed its readiness to provide the technological backbone and integration support required for a smooth transition, emphasizing the importance of stakeholder engagement, capacity building, and system interoperability during the phased rollout.
The e-invoicing initiative is part of broader digital transformation efforts aimed at expanding the tax base, improving revenue collection, and positioning Nigeria’s fiscal environment in line with global best practices.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
