Andersen Nigeria's Podcast: Recent Episodes
Andersen Nigeria
Andersen in Nigeria is an independent tax, transfer pricing and accounting advisory services firm with a worldwide presence through the member firms and collaborating firms of Andersen Global.
This podcast is about life beyond the normal 9 to 5 of every employee. In today’s Andersen Chatroom, we explore a vital topic: Mental Health in the Workplace. From managing stress to building supportive environments, this episode highlights how both individuals and organizations can put wellbeing first without compromising productivity.
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This podcast is about life beyond the normal 9 to 5 of every employee. In this episode of the Andersen Chatroom, our employees open up about their real thoughts on money, savings, and financial planning in today’s fast-changing world. From dealing with rising living costs to preparing for the future, Gen Z is redefining what financial wellness means and how we all should think about it.
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This publication is about how Nigeria's approach to wealth succession has fundamentally changed with the enactment of the Nigeria Tax Act, 2025 (NTA 2025). For years, inheritance followed cultural traditions and probate norms, but now, tax compliance plays a central role. The NTA 2025 imposes clear tax obligations on all forms of succession, whether by will, trust, or intestacy. Executors must settle final and estate income taxes, trustees face new reporting rules, and administrators cannot distribute assets without addressing tax liabilities making estate planning more complex and tax-driven than ever before.
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This publication is about Nigeria’s transition to a modern securities regulatory framework with the enactment of the Investments and Securities Act (ISA) 2025. Signed into law in March 2025, the new Act replaces the 2007 legislation and introduces key reforms, including the formal recognition of digital assets as securities. This marks a significant step in aligning Nigeria’s capital markets with international standards and addressing long-standing regulatory gaps.
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This published article reviews the incentives for operators in the upstream sector of Nigeria’s oil and gas industry, as introduced by the Upstream Petroleum Operations (Cost Efficiency Incentives) Order, 2025 and its potential impact on Nigeria’s competitiveness in the global energy market.
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This published article reviews the key provisions of the Nigeria Tax Act 2025 with particular focus on the manufacturing sector, drawing attention to relevant sections, incentives, and compliance implications.
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This Published article, we discuss the key reforms introduced by the Nigerian government and financial institutions to meet FATF requirements and the practical implications of these changes for businesses.
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Since Transfer Pricing returns filing is a compulsory compliance obligation for taxpayers with TP obligations, attracting significant penalties for non-compliance, it is pertinent that taxpayers adopt a proactive approach to TP compliance. This article highlights the Transfer Pricing returns obligations in Nigeria, processes and proactive steps to be taken by taxpayers to ensure they get it right, particularly during this hectic June filing season.
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Across generations, families have worked diligently to build businesses, accumulate wealth, and secure a lasting legacy for their loved ones. Yet, in today’s fast-changing economic environment, this hard-earned wealth can easily be lost within a generation without thoughtful and strategic planning. Succession planning is often misunderstood as simply deciding who inherits what.
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Given the importance of these hospitals, it is apt to explore the use of sustainable and affordable renewable energy solutions that would provide the required electricity for their operations at the least possible cost. By adopting these sustainable energy models, hospitals can reduce electricity costs, lessen dependence on unreliable grid power, and maintain consistent service delivery, ultimately strengthening the resilience of Nigeria’s healthcare sector.
In this published article, we explored the challenges around energy access in Nigerian tertiary hospitals and innovative financing options available to unlock sustainable renewable energy sources and solutions to bridge the electricity supply gap.
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Since Transfer Pricing returns filing is a compulsory compliance obligation for taxpayers with TP obligations, attracting significant penalties for non-compliance, it is pertinent that taxpayers adopt a proactive approach to TP compliance. This article highlights the Transfer Pricing returns obligations in Nigeria, processes and proactive steps to be taken by taxpayers to ensure they get it right, particularly during this hectic June filing season.
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This Published article explores the key provisions of the Nigeria Tax Reform Bill, analyzing its potential impact on Small and Medium Enterprises (SMEs).
It highlights emerging challenges, possible benefits, and strategic recommendations to help businesses navigate the new tax landscape effectively.
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Artificial intelligence is no longer an experimental tool. It is now a cornerstone of strategic transformation in finance. As the global economic landscape continues to evolve with inflationary pressures, market volatility, and increasing regulatory scrutiny finance leaders must reassess their operating models. The ability to move from historical reporting to predictive analytics is no longer a competitive edge; it is an operational necessity.
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This Published article explores what a functional analysis is, its importance, especially in dispute resolution in the TP audit process and steps to having a robust functional analysis.
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Family wealth, when managed effectively, can provide financial security and opportunities for multiple generations. However, history has shown that without proper governance, wealth can dissipate within a few generations. This published article explores the significance of family governance in wealth preservation, its key components, challenges, and best practices.
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Nigeria’s power sector has long been plagued by inefficiencies, poor electrification rates, as well as chronic power outages and shortages. Despite being Africa’s largest economy, access to stable and reliable electricity remains a major constraint to industrial growth and economic development.
In this Published article, we review the current challenges in Nigeria’s power sector, the achievements so far, and propose the adoption of digital models in enhancing Nigeria’ power sector.
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ICFR, or Internal Control over Financial Reporting, is a key component of the broader concept of Internal Control. It is a process established by governance and management to provide high assurance that the mechanisms of Internal Control effectively ensure the reliability of financial information. This process also ensures that the preparation of financial statements aligns with the applicable financial reporting framework.
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This published article provides insights into the aspects of the Guidelines that taxpayers can take advantage of (the Good), the challenging aspects that taxpayers need to be aware of and mitigate (the Bad), and the highly risky aspects of the Guidelines that should be addressed by the FIRS (the Ugly).
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In this Published article, we highlight some of the key tax reforms and their potential benefits for petroleum operations and the Nigerian economy at large.
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This published article seeks to examine the key changes of the Nigeria Tax Bill on NRCs carrying on shipping or air transport business in Nigeria.
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The Nigerian tax reform bills submitted to the National Assembly aim to establish uniform procedures for the efficient administration of tax laws and improve tax compliance. The tax reform bills, which consist of four legislative initiatives are creatively designed to empower Nigerians across all sectors and enhance the country’s economic growth.
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Business restructuring emerges as a critical tool for navigating these turbulent times. By optimizing operations, reducing costs, and adapting to changing market conditions, businesses can enhance their chances of long-term success.
This published article explores business restructuring as a strategic imperative for building resilience during challenging times.
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This published article highlighted some factors affecting effective TP compliance by taxpayers and the process and impact of operationalising TP as a means to help tackle these issues.
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This published article discusses Artificial Intelligence and its privacy risks. We also offer some recommendations about the ethical use of AI to ensure data privacy compliance in line with the provisions of the law.
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An employer’s tax and other regulatory compliance obligations concerning its workforce or employees are defined by the nature of the relationship or contract with the latter. In practice, some employers have neglected these obligations when the workforce is engaged as contract workers or consultants. Will this be deemed non-compliant considering the common law doctrine of substance over form? What are the tax compliance obligations for local and foreign employers of the workforce in Nigeria considering the various forms of workforce contracts?
This published article aims to shed light on these relationships and the resultant obligations in order to avoid potential consequences that typically arise from non-compliance.
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This article focuses on the recent transformation of TCN into the NISO and the TSP, the potential opportunities the unbundling presents for enhancing operational efficiency and grid reliability and the key things to consider prior to the conclusion of the transfer.
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This published article discusses the need effective internal control to ensure business continuity and investment security, ensure the accuracy and reliability of financial reporting, and promote compliance with laws and regulations.
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As businesses continue to expand their reach and significantly increase their use of technology, the risks must be weighed against the benefits of technology usage. Increased exposure to cyberattacks and data breach incidents necessitate improved measures to combat these issues and mitigate the resulting risks from these incidents.
This public article considers the evolution of the Act, issues around legality and its implementation and subsequent suspension.
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This published article delves into the complexities of the Nigerian power sector, analyzes the implications of the tariff increase, and explores potential pathways to address the sector’s persistent challenges.
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This published article examines the operations of the Electronic Money Transfer Levy (EMTL) since its commencement in 2020, its contributions to Nigeria’s financial environment, and the overall impact on the Nigerian economy.
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This published article discusses the recent migration of transfer pricing (TP) filings and Country-by-Country Reporting (CbCR) notification forms from the electronic TP platform (e-TP Plat) to the TaxPro Max platform by the Federal Inland Revenue Service (FIRS) in Nigeria. Taxpayers are granted until 30 June 2024 to complete any outstanding filings on the new platform.
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This published article discusses the key considerations for banks as they gear up to the proposed banking sector recapitalization programme. On 28 March 2024, the Central Bank of Nigeria (CBN) in line with Section 9 of the Banking and Other Financial Institutions Act (BOFIA) of 2020 released a circular on the review of minimum capital requirements for commercial, merchant, and non-interest banks in Nigeria.
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This published article explains the nuances of tax management for high-net worth individuals and families, and also highlights strategies to mitigate risks and ensure compliance with regulatory mandates.
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This published article discusses the concept of Maximizing Nigeria's Renewable Energy Potentials for Sustainable Growth and Development. As you are aware, Nigeria is currently facing economic difficulties from the ongoing government reforms which has a general increase in the prices of goods and services.
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This Published article embarks on a comprehensive exploration, unraveling the intricate relationship between corporate governance and financial performance within the unique context of Nigerian Businesses.
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As part of our annual review of the Nigerian TP space, in this article, we review the major developments in the Nigerian TP space in 2023 and the potential implications for taxpayers in 2024.
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An important discussion on the International Sustainability Standards and the game-changing dynamics they bring. The question we pose today is: How prepared is your organization for this transformative shift?
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This published article discusses some developments around the Data Privacy in Nigeria and also highlighted relevant obligations for businesses in the coming months.
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This article provides insight into the effects of the economic issues and how they impact family businesses while offering guidelines to navigate the uncertain future and protect the Family's accumulated wealth.
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This article examines the proposed taxation of foreign exchange transactions in the parallel market and its implications on the economy and taxpayers.
Parallel foreign exchange markets or “black market” as it is popularly called, has been in existence for a while now and has become a common phenomenon in most developing countries. In Nigeria, the market has grown in to become a major and ready source of foreign exchange to most individuals, corporate bodies and to some other participants in the economy. The implication of this is that as the parallel market for foreign exchange expands and the majority depend more on it for their transactions, the government loses control over the foreign exchange market as more of the official transactions are diverted to the parallel market.
To curtail this overbearing reach of the activities of the parallel market and its impact on the Nigerian economy, the Presidential Committee on Fiscal Policy and Tax Reforms proposed imposing excise taxes on foreign exchange transactions conducted outside the official exchange market.
The major reasons why the Presidential Committee seeks to impose an excise tax on foreign exchange transactions in the parallel Market is the additional revenue the initiative would generate for the government, if implemented particularly as the transactions carried out daily in the Market are voluminous. Imposing an excise tax on these transactions could open a new stream of income for the government to fund its increasing costs.
The recommendation proposed by the Presidential Committee aims at controlling the adverse exchange rate fluctuation currently bedeviling the Nigerian economy, unifying the official and parallel market rates in the long run, and proffering additional streams of revenue for the government. In achieving the desired objectives, policymakers must weigh the impact of the proposed recommendation on taxpayers both in the short term and long term before implementing the policy. This is to ensure that taxpayers (individuals and businesses) are not overburdened.
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This article discusses the concept of Global Minimum Top-up Tax as a key Tax Transparency Driver for ESG Reporting. The Global Minimum Top-up Tax is an International Tax Reform under the Pillar II Tax mechanism that aims at ensuring a fairer and even distribution of taxable profits across jurisdictions that multinationals operate in. It is also an assessment that qualifying Multinationals would have to undergo and these are classified under 3 dynamic assessments The What, The Who and The How.
The What: This is a reform that test to see if the group of subsidiaries for a multinational corporation have paid a minimum of 15% on the income realized from the particular jurisdiction they operate in.
The Who: Every large multinational group of companies that have a consolidated revenue balance of €750 million or more in at least two of the last four financial years of reporting would need to be assessed for a possible minimum top-up tax payments.
The How: For all qualifying multinationals that are within the aforementioned threshold, and that would be subjected to the assessment, the average of the effective tax rate of all the subsidiaries within the group would computed and if less than 15%, the shortfall would be netted off against the 15% benchmark and the resulting difference which is termed the Top-up rate to be charged against the group.
This assessment enhances what is referred to as Tax Transparency, which is a key sustainability metrics under the Governance pillar of ESG Reporting that Capital market finance providers, Government authorities and other relevant stakeholders look out for.
In conclusion, with the wave of sustainability reporting taking center stage this year, and the effects of the Pillar Two International Tax Reform coming into full-fledged disclosures this year as well, there is no better time for large multinationals to strategically position their business as a Tax transparent and compliant entity which enhances their ESG story, by undergoing the minimum top-up tax tests.
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In recent times, the Intellectual Property space in Nigeria has witnessed a number of developments that are critical to note. In this Article, we have discussed some of these developments and highlighted the impact on creatives, IP rights owners and other stakeholders.
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This published article focuses on the potential tax implication of some of these policies and the strategies that businesses have adopted in ensuring survival during this very challenging phase. More specifically, it highlights the intricacies of the free-floating exchange rate policy vis-à-vis its current and potential future tax implications, treatments, and compliance matters.
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This publishes article discusses on how ESG practices are becoming more and more crucial for businesses and organizations. ESG practices can aid companies in lowering risks, enhancing their image, and luring in new clients.
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This published article provides highlights on the Personal Income Tax (PIT) obligations for Non-Resident Employers of Labour in Nigeria as it pertains to their Nigerian employees. Our discussions herein are limited to NREs that do not require any form of business registration in Nigeria.
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This published article explores the ways in which technology is transforming businesses and facilitating efficiency in accounting procedures, as well as the benefits it brings to the accounting profession.
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This published article examines some of the reasons for this third generation “curse” and offered suggested strategies to family businesses on how to beat it.
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In this published article, we explore the nature of the CVFF and how eligible indigenous maritime operators can access finance from the Fund to expand their maritime assets and capabilities.
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This published article examines the impact of ESG on the growth and productivity of business organisations.
This published article discusses the Transfer Pricing Returns Filing in Nigeria as the month of June is usually an extremely busy season for taxpayers and tax consultants, primarily because most companies in Nigeria have a December year-end and are required by law to file their TP returns six (6) months after the year-end i.e. on or before 30 June of the subsequent year.
This published article examines the important reasons why the Board of Directors should be actively involved in data privacy compliance within their organisations as well as practical steps towards promoting effective board participation in data privacy related matters.
This article published article examines some of the policies enacted to aid foreign direct investment in Nigeria, and the tax and other regulatory challenges that impede local and foreign investors in Nigeria’s business environment.
This article examines prior legislative efforts to discourage gas flaring and we will also consider the implications of the proposed gas flaring provisions in the Finance Bill 2022.
This published article seeks to examine the taxation of transactions involving uncommon digital assets such as Cryptocurrencies and Non-Fungible Tokens (NFTs) in Nigeria, the current and potential future implications of holding such assets and the imminent changes to our taxing legislature with implications for digital asset creators, buyers and sellers.
This published article discusses several strategies businesses can adopt in order to showcase a resilient business model and increase the chances of a successful fundraise process during a political year.
This published article seeks to highlight the major provisions in the Bill and discuss its impact on data controllers, data processors and data subjects in Nigeria.
This published article seeks to discuss the compliance challenges with respect to social security contribution schemes in Nigeria, with a particular focus on the Industrial Training Fund (ITF) and Employees Compensation Scheme (ECS or “the Scheme”). We have also provided our views on boosting the compliance levels to social security contributions in Nigeria.
This published article seeks to evaluate some of the amendments to the tax laws introduced by the Finance Act that impact NRCs operations in Nigeria.
This published article focuses on the role of some of the stakeholders in the Nigerian Maritime Sector in driving voluntary tax compliance.
This published article focuses on some of the salient tax provisions in the Bill and the potential implications on businesses for both indigenous and non-resident companies.
This published article discusses how to position and manage the Enterprise Risk Management Function for Strategic Organizational Efficiency
This published article examines the regulatory framework for nutritional claims in Nigeria and provides relevant insights on the considerations for labelling and advertisement of food products and the roles played by the regulator in the validation of these claims and approval of adverts.
In this published article, we discuss wealthy individuals and families with dual/multiple citizenships and the implications of this status to their wealth transfer/succession plans.
This published article discusses how taxpayers can make use of the e-TP Platform and how it can be navigated effectively to ensure that the Transfer Pricing returns are filed on time.
This published article discusses how businesses can lower the risk of regulatory non-compliance by proactively analysing the recently implemented legislation to see how they affect their operations besides the new filing requirements and deadlines.
This published article discusses the meaning of gifts under Nigerian law, highlights the provisions of the Personal Income Tax Act (PITA or “the Act”) with respect to gifts and then analyses the tax impact of gifts received in Nigeria and the practice in some other jurisdictions.
This published article, discusses management’s role in ensuring that an organisation has an effective internal control system.
This published article focuses on the potential implications of the Digital Services Taxes for the Nigerian economy and businesses and the implications of the Two-Pillar Solution.
Given the significant role that the InfraCorp is expected to play within the Nigerian economy, this published article discusses the general overview of the InfraCorp, its prospects and likely challenges as well as outlook for the future.
This published article discussed the recent changes to work arrangements as occasioned by the pandemic, assess the adequacy of the existing taxing framework in Nigeria, and suggest workable solutions to right-taxing employment income in this dispensation.
This published article reviews the Guidelines, its impact on stakeholders and suggest ways to address the issues identified by stakeholders.
This published article discusses on leveraging the Mergers and Acquisitions (M&A) option for capital expansion as it will not only help PFAs restructure their business operations but will also make the industry more competitive resulting in outputs that will foster economic development.