Fireside Chat: Dr. Ayodele Zubair (Chairman, LIRS), moderated by Dr. Jameelah Sharrieff-Ayedun (VP, FintechNGR) | FintechNGR Outlook Webinar, 24 February 2026
The fireside chat at the FintechNGR 2026 Outlook Webinar offered something rare: a direct, candid conversation with the head of a state revenue authority about tax philosophy, digital transformation, and the future of the fintech ecosystem. What emerged was a picture of a regulator that sees itself not as an adversary of the fintech sector, but as a potential partner — and that is investing seriously in the tools and culture needed to make that partnership real.
- Policy Intent: What the Reform Is Actually For
Dr Zubair was clear from the outset: the new tax regime is not about imposing new taxes. It is about modernizing Nigeria’s tax system to reflect today’s digital, platform-driven economy. The objectives he described include simplifying and harmonizing tax laws, digitizing processes, enhancing transparency, reducing avoidance, broadening the tax base fairly, and protecting the most vulnerable — at both household and entrepreneurial levels.
On smaller businesses, he was specific. The new regime includes zero Corporate Income Tax for qualifying small companies, tapering reductions, tax credits, rent relief, and progressive thresholds designed to shield low-income earners. These are not cosmetic measures.
For fintechs operating in Lagos, the reforms bring clarity rather than uncertainty: defined expectations around VAT on digital and remote supplies, registration and reporting obligations for virtual asset service providers and crypto companies, and strengthened record-keeping requirements aligned with AML and KYC frameworks. Fintechs already running robust AML and KYC processes are, in effect, better positioned for tax compliance than many traditional businesses.
“People should not see tax as a burden; it is simply their contribution to building a good society. We run a system of advocacy, not coercion.” — Dr Ayodele Zubair, Chairman, LIRS
- Enforcement and the eTax Platform
Dr Zubair acknowledged the concern that reform might stifle innovation, and was clear it is not the intent. Enforcement tools have been strengthened, but taxpayer protections have been expanded equally: administrative reviews, alternative dispute resolution, a strengthened Tax Appeal Tribunal, and a new Tax Ombudsman. The shift is from an enforcement-heavy approach to one that is compliance-led and service-oriented.
The most concrete development is the eTax platform — LIRS’s end-to-end, self-service tax administration system, which Dr Zubair credits as central to the agency’s revenue growth. Key features: taxpayers manage all transactions remotely; every account shows a full tax history including payments made on their behalf; withholding tax remittance schedules must include the taxpayer ID of every individual covered — incomplete uploads are rejected; and banks have been instructed not to accept withholding payments without contractor details. The legacy system remains live but is being phased out. The message was direct: migrate to eTax now. Do not wait for the shutdown.
On inclusion, LIRS has not been built exclusively for the tech-savvy. Tax stations staffed by ‘tax champions’ operate across every division of Lagos, USSD support is available for taxpayers without smartphones, and ongoing training programmes run through partner organizations.
- Fintechs as Partners, Not Adversaries
The most important framing in Dr. Zubair’s remarks was his characterization of the relationship between LIRS and the fintech sector. He was explicit: LIRS sees fintechs as partners. The collaboration opportunities he identified include building digital compliance pathways, carrying tax awareness messaging to MSMEs through existing fintech relationships, embedding compliance tools at the platform level, and enabling the secure data exchange that the new regime depends on.
He grounded this in a simple articulation of the social contract: government provides infrastructure and public services; citizens and businesses contribute honestly. The rail mass-transit lines, ferry services, and BRT network that Lagosians use daily exist, he said, because some people pay their taxes. The ambition is for that to be everyone.
“The success of the new tax laws will be measured not by enforcement alone, but by trust, clarity, and collaboration.” — Dr. Ayodele Zubair, Chairman, LIRS
Three actions for fintech operators:
- Migrate to eTax fully and immediately. Your tax history, withholding tax credits, and compliance record all live on that platform.
- Obtain a Tax ID if you have not already. It is a critically important identifier — every founder, developer, and investor should have one.
- Pay your taxes. As Dr. Zubair put it: “If everyone pays their taxes, we can build the Lagos we all dream of.”