Banks, financial institutions to act as third-party debt recovery agents in new tax regime

[NigerianEye - Nigeria] - 28/07/2025
The Nigeria Tax Administration Act (NTAA) says banks and other financial institutions will act as third-party debt recovery agents. The Act, seen by TheCable, said the tax authority may transfer the responsibility for tax debt recovery to a third party only when all legal avenues have been exhausted. According to the NTAA, third-party agents will also be deployed if the debt is of significant value. “The relevant tax authority may assign outstanding tax debts, in whole or in part, to an accredited third party who shall assume responsibility for recovering the tax debts in accordance with (…)
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