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Bookkeeping & Accounting

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Bookkeeping & Accounting2/4/2026

What bookkeeping records must Nigerian businesses maintain?

In 2026, bookkeeping is no longer just about "keeping receipts in a box." Under the Nigeria Tax Act 2025, the Nigeria Revenue Service (NRS) and CAC now mandate digital-first record-keeping. Failure to maintain these records can lead to the loss of tax exemptions (like the 0% CIT for small businesses) and heavy "Best of Judgment" (BOJ) tax assessments.

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