Feature/OPED

A Nation on Alert: Is FIRS’ Xpress Payments Move Consolidating a Revenue Cartel?

Published

5 months ago

08/12/2025

By Blaise Udunze

Nigeria’s national mood is tense. The country is facing economic hardship, insecurity, public distrust in institutions, and an increasingly widening gap between citizens and their government. Yet, in the midst of this fragility, a quiet administrative action by the Federal Inland Revenue Service (FIRS) has sparked a storm of public concern, political accusations, and renewed debate over who truly controls Nigeria’s revenue system.

The controversy began when the FIRS quietly announced the appointment of Xpress Payment Solutions Limited, a fast-rising Nigerian fintech company, as a Treasury Single Account (TSA) collecting agent, effectively giving the company authority to process federal government tax payments through the TaxPro Max platform. With this appointment, taxpayers can now remit Company Income Tax, Value Added Tax, Withholding Tax, and other federal payments using XpressPay or the company’s in-branch e-Cashier platform.

At first glance, the move appears technical and harmless, perhaps even a necessary step to modernize Nigeria’s digital tax infrastructure. But almost immediately, outrage erupted across political, civil society, and economic circles. And within hours, the debate had escalated into what is now being framed as a national question: Is Nigeria witnessing the quiet re-emergence of a revenue cartel, this time on a federal scale?

A Tax Gatekeeper Emerges Silently

Xpress Payments is not an unfamiliar name in Nigeria’s fintech landscape. Incorporated in 2016, the company has grown steadily, offering secure payment gateways, switching services, and enterprise financial solutions. Its Acting Managing Director, Wale Olayisade, expressed delight at the appointment, describing it as a major milestone, “We are honoured to be selected by FIRS. Our systems are built to ensure ease, speed, and security for every transaction.”

He insisted that taxpayers would enjoy a seamless, transparent, and reliable experience.

Ordinarily, such remarks should settle nerves. But the public response was anything but calm. Citizens and political stakeholders immediately raised a torrent of questions:

– Why was this appointment announced quietly, without public consultation?

– What new value does Xpress Payments add that existing TSA channels, such as Remita, do not already provide?

– Were there competitive bids?

– What are the contract terms, and who benefits financially?

– Why concentrate such a sensitive national function in private hands at a time when transparency is already strained?

The silence from government circles only deepened the suspicion. In governance, especially around revenue, silence is not neutrality; it is oxygen for mistrust.

Atiku Abubakar Explodes: “This Is Lagos-Style State Capture”

The loudest reaction came from former Vice President Atiku Abubakar, who issued one of his most forceful statements in recent years. Atiku accused the Federal Government of attempting to replicate the same at a national scale. The controversial Lagos revenue model was dominated for years by Alpha Beta, a private firm accused of enjoying a monopoly over the state’s revenue pipeline.

In his words, “This is the resurrection of the Alpha Beta revenue cartel. What we are witnessing now is an attempt to nationalise that template.”

Atiku warned that the move could concentrate power around politically connected private actors, enabling them to sit at the centre of federal revenue flows. He questioned the timing, calling it insensitive given the nationwide grief over insecurity, “When a nation is mourning, leadership should show empathy, not expand private revenue pipelines.”

He issued five demands:

Immediate suspension of the Xpress Payments appointment
Full disclosure of contract terms and beneficiaries
A comprehensive audit of TSA operations
A legal framework preventing private proxies from controlling public revenue
A shift in national priorities toward security and transparent governance

His final warning was blunt, “Nigeria’s revenues are not political spoils. They are the lifeblood of our national survival.”

The Ghost of Alphabeta: Why Nigerians Are Worried

For many Nigerians, this controversy triggers painful memories of earlier private-sector dominance over public revenue. The “Alphabeta era” in Lagos is widely remembered, fairly or unfairly, as a time when a single private company appeared to dominate the state’s tax collection landscape, shrouded in secrecy and controversy.

Nigeria’s fear is simple:

– If revenue collection becomes controlled by one or two private companies, transparency dies, and corruption flourishes.

– Allowing private entities to sit between taxpayers and government can create:

Monopoly power
Inflated service fees
Data privacy concerns
Political weaponization of revenue information
Institutional dependency
Centralization of sensitive national data

Each of these risks has real consequences for economic stability.

FIRS’ Defence: “It Is Only an Additional Option”

To be fair, the FIRS insists that Xpress Payments is only one of several available channels, not the exclusive gatekeeper. Remita and other payment service providers remain operational.

According to FIRS, the move is part of a broader effort to modernize and expand taxpayer options within the TSA. In a functional environment, this would be welcomed as healthy competition. But Nigerians are not reacting to the announcement; they are reacting to the pattern:

– Sudden appointments

– Lack of transparency

– Political undertones

– Private-sector centralization of public revenue

– Timing that coincides with widespread economic strain

The concern is not the company itself; it is the impenetrability surrounding how such decisions are made.

The Big Tax Picture: Major Reforms Coming in January 2026

While the Xpress Payments controversy rages, Nigeria is simultaneously preparing for the most ambitious tax reform in decades, one that may change how individuals and businesses perceive taxation entirely.

The reforms, spearheaded by the Presidential Fiscal Policy and Tax Reforms Committee, chaired by Mr. Taiwo Oyedele, will take effect in January 2026, and they promise sweeping changes.

Drastic Reduction of Tax Burden on 98 percent of Nigerians

Oyedele has repeatedly emphasized, “You will pay less or no tax if you are in the bottom 98 percent of income earners.” Under the new regime:

– Workers earning below N800,000 annually pay zero personal income tax.

– Basic food, healthcare, education, and public transport become VAT-exempt, lowering living costs.

– Small companies (turnover ≤ N100m) will pay zero corporate tax, zero capital gains tax, and be exempt from the new 4 percent development levy.

Consolidation of Multiple Tax Laws

The reform merges numerous existing laws, CITA, PITA, VAT Act, CGT Act, into a unified tax code. This eliminates duplication, confusion, and overlapping mandates that have plagued Nigeria for decades.

Increased CGT for Companies, Fairer Rates for Individuals

– Companies now pay 30 percent CGT.

– Individuals pay CGT based on their income band.

Tax on Digital and Virtual Asset Profits

The reforms modernize the tax base to include digital transactions and virtual assets.

Export Incentives

Profits from goods exported will now be income tax-free, provided proceeds are repatriated legally.

Stronger Tax Institutions

A new Nigeria Revenue Service (NRS) will become the sole federal tax collector, while the Tax Ombudsman will resolve disputes.

President Tinubu Sets Up an Implementation Committee

To ensure smooth rollout, President Tinubu has approved the National Tax Policy Implementation Committee (NTPIC) chaired by Joseph Tegbe and supervised by Minister of Finance, Wale Edun.

The goal:

Improve compliance, reduce leakages, and reinforce fiscal sustainability.

So, Why Are Nigerians Still Worried?

Because reform alone does not guarantee trust. Nigerians welcome the promise of lower taxes, simpler laws, and less harassment. But they fear that while the tax burden may be reduced, the control over tax collection may be quietly shifting into private hands.

The unsettling question persists:

– How can a nation modernize its tax system while simultaneously outsourcing its revenue gateways?

– What Exactly Is the Risk?

Over-Centralization of Revenue Gateways

Even if Xpress Payments is “an option,” such appointments can slowly evolve into de facto monopolies, especially in Nigeria, where political influence often determines market dominance.

Data Privacy and National Security

Tax data is deeply sensitive. It reveals income patterns, business operations, sectoral flows, and strategic economic information. Consolidating such data under private firms raises major cybersecurity concerns.

Potential for Political Capture

The fear is not that Xpress Payments lacks capacity; the company is reputable, but that future actors may exploit such arrangements for political financing or influence.

Risk of Middlemen Profiting from Public Revenue

If service fees or transaction charges apply, taxpayers may indirectly fund private intermediaries for basic access to government services.

Erosion of Public Trust

A tax system must be trusted to function. When people sense secrecy, they resist compliance.

What Nigeria Needs Now: Full Transparency, Not Silence

To rebuild confidence, the federal government must take immediate steps:

Publish All Contract Details

Service fees, revenue-sharing models, data access permissions, contracts’ duration, and ownership disclosures must be made public.

Conduct an Independent Audit of TSA Payment Providers

This should include Remita, Xpress Payments, and all other agents.

Prevent Monopolies in Revenue Collection

No single company should control more than 30 percent of federal tax traffic.

Strengthen FIRS Capacity

Modern digital tax administration should rely primarily on state capacity, not outsourcing.

Establish a Legal Framework for Digital Tax Contractors

To regulate:

– Data usage

– Infrastructure standards

– Profit margins

– Conflict-of-interest rules

Without such laws, Nigeria remains vulnerable.

A Nation at a Revenue Intersection

Nigeria stands at a defining moment. The 2026 tax reforms promise hope: lower taxes, simpler rules, better compliance, and reduced harassment. They present an opportunity to reset the social contract around taxation.

But that promise is threatened by the unsettling perception that tax collection is quietly being privatized, again. The public narrative is now locked in a dangerous contradiction; the government promises tax relief, while citizens fear revenue capture.

Until transparency is restored, the controversy surrounding Xpress Payments will not disappear. It has grown beyond a payment gateway issue. It has become a test of Nigeria’s commitment to:

– Accountability

– Institutional integrity

– Democratic oversight

– And the protection of national revenue

A country cannot modernize its tax system while leaving its revenue gateways in the shadows. Nigerians want answers. They want openness. And they want assurance that the era of revenue cartels, real or perceived, will never return. Anything short of full disclosure leaves the nation with a painful question: Who is truly controlling Nigeria’s money?

Blaise, a journalist and PR professional, writes from Lagos, can be reached via: [email protected]

Up Next

Nigeria’s Schools Closure and the Disease of Rhotacism

Don't Miss

CBN’s New Cash Policy: A Welcome Liberalisation or a Risky Retreat?

Business Post Contributor

Click to comment

Feature/OPED

Nigerian Opposition: What You Have to Do

Published

2 days ago

20/04/2026

Business Post Contributor

By Prince Charles Dickson, PhD

“And Jesus said to Judas… what you are going to do, do quickly.”

There is a hard, almost rude lesson in that line. History does not wait for the timid to finish their committee meeting. Politics, especially Nigerian politics, is not kind to hesitation dressed as strategy. It rewards those who understand timing, nerve, structure, and the brutal arithmetic of power. That is where the Nigerian opposition now stands: not at the edge of impossibility, but at the edge of urgency.

The first truth is the one opposition politicians do not enjoy hearing at rallies where microphones are loud, and introspection is scarce. They are not getting it right. The evidence is not only in Tinubu’s strength, but in their own disorder. INEC said on February 5, 2026, that there were now 21 registered political parties and warned that persistent internal leadership crises within parties pose a serious threat to democratic consolidation. Eight days later, the commission formally released the notice and timetable for the 2027 general elections. In other words, this is no longer the season of abstract grumbling. The whistle has gone. The race is live.

Yet the opposition often behaves like students who entered the examination hall with righteous anger but forgot their pens. Too much of its energy is spent on lamentation, rumours, courtroom oxygen, personality feuds, and that old Nigerian hobby of mistaking noise for architecture. You cannot defeat an incumbent machine by forming a WhatsApp coalition of wounded egos and calling it national salvation. Voters may clap for drama, but they still ask the unromantic question: who is in charge, what is the plan, and why should we trust you with the keys?

Now comes the more uncomfortable truth. The opposition is not facing an ordinary incumbent. It is facing Bola Ahmed Tinubu, a man whose political DNA was forged in opposition. He is not merely benefiting from power; he understands opposition as craft, pressure, infiltration, timing, persistence, and theatre. In his June 12, 2025, Democracy Day speech, he taunted rivals by saying it was “a pleasure to witness” their disarray, while also reminding Nigerians that he once stood almost alone against an overbearing ruling machine. This was not casual banter. It was a warning shot from a politician who knows both the grammar of resistance and the machinery of incumbency.

That is why copying Tinubu’s old template will not be enough. Yes, the coalition instinct is understandable. In July 2025, major opposition figures, including Atiku Abubakar and Peter Obi, aligned under the ADC banner, presenting themselves as a bulwark against one-party drift, with David Mark as interim chairman. But here is the problem: Tinubu’s own coalition history worked not simply because men gathered in one room and glared at the ruling party. It worked because there was a disciplined merger logic, state-level anchoring, message coordination, and a ruthless understanding of elite bargaining. What the present opposition sometimes offers instead is photocopy politics with low toner: a coalition of convenience trying to frighten a man who practically wrote the Nigerian handbook on political accommodation, defection management, and patient conquest.

This is also why the opposition’s moral complaint, though not baseless, cannot be its only language. Yes, concerns about democratic shrinkage are real. Tinubu himself publicly denied that Nigeria is moving toward a one-party state, even as defections from opposition parties to the APC intensified and his own party welcomed them. But to say “democracy is in danger” is not yet the same thing as building a democratic alternative. Nigerians do not eat constitutional anxiety for breakfast. They want a credible opposition that can protect pluralism and still explain food prices, jobs, security, power supply, transport costs, and what exactly it would do on Monday morning after taking office.

On the government’s side, the picture is mixed enough to make both triumphalism and apocalypse look unserious. Reuters reported this week that the World Bank expects Nigeria’s economy to grow by about 4.2% in 2026, with external buffers improving and the debt-to-GDP ratio falling for the first time in a decade. Inflation had eased to 15.06% in February from roughly 33% in late 2024. Those are not imaginary numbers, and any fair-minded analysis must admit that Tinubu’s reforms have altered the macroeconomic conversation. But the same report warned that the Iran war has pushed fuel prices up by more than 50%, with obvious consequences for transport, food, and household pain. Add the continuing insecurity, underscored again this week by the killing of a Nigerian army general in Borno, and the government begins to look like a man who has repaired the roof but left half the house still flooding. That is not a collapse. It is not a command either. It is a meandering reform under political stress.

So, what must the opposition do, and do quickly? First, it must stop making Tinubu the only subject of the campaign. Anti-Tinubu is not a manifesto. It is a mood. Moods trend; structures win. Second, it must settle leadership questions early and publicly, because no voter wants to hire a rescue team still fighting over the steering wheel. Third, it needs an issue coalition, not just an elite coalition. Security, inflation, youth jobs, electricity, federalism, and institutional reform must become a coherent national offer, not a buffet of press conference talking points. Fourth, it must build from the states upward. Presidential romance without subnational organisation is political karaoke: loud, emotional, and usually off-key by the second verse.

Fifth, it must look seriously at the legal terrain. The Electoral Act 2026 has made party organisation even more central. PLAC notes that the new law tightens party registration rules, removes deemed registration, expands INEC’s regulatory discretion, and preserves the fact that candidates still need political parties as the vehicle for contesting most elective offices because independent candidacy is not permitted. In plain language, parties matter even more now. A fragmented opposition is therefore not just aesthetically untidy. It is strategically suicidal.

Still, there are dangers in the opposite direction, too. A desperate anti-Tinubu mega-bloc could become a cargo truck of incompatible ambitions. If all it offers is the promise to defeat one man, it may reproduce the same habits it condemns once power arrives. Nigeria does not need a ruling party so swollen that democracy gasps for air. But it also does not need an opposition whose only ideology is turn-by-turn revenge. The health of democracy lies somewhere between monopoly and mob. It requires competition with content, not merely competition with bitterness. Tinubu himself, in that same June 12 speech, defended multiparty politics even while mocking the opposition’s disorder. That irony should not be wasted. He has thrown them both an insult and an assignment.

So, yes, the opposition is right to worry. But worry is not a strategy. Outrage is not an organisation. The coalition is not coherent. And history is not sentimental. The man they are up against is ruthless, seasoned, and intimate with the dark arts of democratic combat. He knows the game. Some of his opponents are still learning the rules from old newspaper cuttings.

Which brings us back to the scripture. What you are going to do, do quickly. Not recklessly. Not hysterically. Quickly. Settle your house. Name your purpose. Offer something fresher than recycled indignation. Build a machine that is not merely anti-Tinubu but pro-Nigeria in a way ordinary Nigerians can feel in their pockets and in their pulse. Otherwise, the opposition will keep arriving at battle dressed in borrowed armour, only to discover that the tailor works for the man they came to unseat—May Nigeria win!

Feature/OPED

The Digital Imperative for Women-Led Businesses in Nigeria

Published

2 days ago

20/04/2026

Business Post Contributor

By Gloria Onosode

Nigeria is targeting an ambitious $1 trillion economy by 2030. To achieve this, women-led businesses must transition from mere passive observers to primary growth drivers at the heart of the economy and strategic participants in their respective industries.

According to the National Bureau of Statistics (NBS), the increased ownership rate of MSMEs by women represents a significant contribution to economic growth and job creation. Digital empowerment for these enterprises must move from being a social responsibility or gender support initiative to contributing to broader economic development.

To reach the $1 trillion GDP milestone, women-led businesses must be positioned to operate at a macroeconomic scale. This requires moving beyond subsistence trading and into the digital value chain. For instance, a fashion designer in Aba, through digital positioning, can access broader markets and commercial networks and thereby facilitate better record-keeping and data-driven decision-making, supporting improved financial record-keeping, which may be considered in credit assessments by financial institutions.

FairMoney Microfinance Bank (MFB), a bank licensed and regulated by the Central Bank of Nigeria, contributes to the digital transitioning of small businesses in Nigeria by providing tools specifically designed for the realities of the Nigerian entrepreneur. For women, whose businesses often fluctuate with seasonal demands or family needs, the ability to protect and grow capital is paramount. FairMoney MFB offers features that empower women to move from informal ‘under-the-mattress’ savings to digitised interest-bearing savings products. By embracing digital transition, tech-based saving platforms can enable business owners to set specific goals, such as purchasing new equipment, saving towards business goals in a disciplined manner, while earning interest at applicable rates.

For that business owner who requires immediate liquidity, our flexible savings feature offers interest while allowing for withdrawal access that is subject to applicable terms and conditions to cover emergency restocks. For longer-term scaling, our fixed-term savings feature allows entrepreneurs to lock away funds for a fixed period and accrue interest based on product terms, subject to terms and conditions. By automating savings and providing interest at applicable rates, FairMoney MFB is designed to support financial planning and resilience over time for women-led SMEs.

Nigerian women are among the most entrepreneurial globally, consistently defying structural barriers to build enterprises from the ground up. According to the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN), Nigeria has approximately 39.6 million nano, micro, small, and medium enterprises. Charles Odii, Director General at SMEDAN in 2024, also recently shared that approximately 72% of these enterprises are now classified as being owned or led by women. This is a significant jump from previous years, which hovered around 40–43%, largely due to the surge in ‘nano’ and ‘micro’ home-based businesses. These female-led enterprises are the primary engines of job creation and community stability.

Despite this drive, women entrepreneurs face a unique set of structural hurdles that stifle their ability to scale. The ‘financing gap’ remains the most formidable obstacle. The World Bank IFC Nigeria2Equal initiative reports that while Nigeria has one of the highest female entrepreneurship rates globally, the credit gap for these women is estimated at over 2.9 trillion Naira, forcing them into the ‘savings and family’ funding model.

The case for supporting these businesses extends beyond equity; it is rooted in the ‘multiplier effect’. Research demonstrates that women reinvest up to 90% of their income into their families and communities, specifically in education, healthcare, and nutrition. Supporting these enterprises is, therefore, a direct investment in Nigeria’s human capital. By bringing these businesses into the formal sector, the accuracy of economic planning will be improved. When a woman-led SME flourishes, the benefits ripple across the entire socioeconomic landscape.

The future of the Nigerian economy is intrinsically tied to the success of its women. When we prioritise women-led businesses, we are not merely fulfilling a gender quota; we can contribute to unlocking economic potential across sectors. By bridging the digital gap and providing robust financial tools for saving and credit to women-led businesses, Nigeria can begin to support the growth of micro-enterprises over time. A $1 trillion Nigeria is not just a dream; it represents a significant opportunity that can be progressively realised by the resilient women entrepreneurs of our nation.

Gloria Onosode is the Director of Enterprise Sales at FairMoney Business

Feature/OPED

Premium Entertainment Without the Premium Price Tag

Published

2 days ago

20/04/2026

Business Post Contributor

These days, surviving in Nigeria feels like a full-time job on its own.

Before the month even properly begins, salary has already been divided into transport, fuel, food, bills, subscriptions, and every other expense that somehow keeps increasing. For many 9–5ers, the routine has become painfully familiar: wake up early, battle traffic, survive the stress of work, battle traffic again, and get home completely drained, only to realise even the simple things that help you unwind now have to be carefully budgeted for.

Because in this economy, everybody is cutting costs. People are thinking twice before ordering food. They are postponing shopping plans. They are reducing unnecessary spending. And for many, one of the first things to go has been entertainment.

The same streaming platforms and premium subscriptions people once paid for without thinking have now become part of the “maybe next month” list. Not because people suddenly stopped loving movies, series, football, or reality TV, but because when inflation keeps rising, and fuel costs continue to affect everything, entertainment starts to feel like a luxury.

But that is exactly why affordability in entertainment matters now more than ever and why GOtv continues to stand out as a brand that genuinely keeps everyday Nigerians in mind.

Rather than assuming quality entertainment should only be accessible to people willing to spend heavily, GOtv has consistently positioned itself as a platform built with everyday Nigerians in mind, creating options that allow people to still enjoy premium entertainment without having to break the bank.

Take the GOtv Smallie package, for example.

For as low as ₦1,900 a month, subscribers get access to over 35 channels, including approximately 19 to 21 local channels, sports content, and 15+ channels across news, music, movies, lifestyle, kids, and general entertainment.

And for those who prefer longer payment plans, it is also available in:

Quarterly – ₦5,100
Annual – ₦15,000

What makes this even better is that, despite being the most affordable package, Smallie still offers something for everyone.

It is not one of those basic plans where you pay less and get almost nothing. Whether you are the family member who loves African movies, the sports enthusiast who never wants to miss a match, the parent looking for kids’ content, or the person who just wants background TV after a stressful day, there is something to watch.

And for viewers who want even more variety, GOtv has other packages across different price points:

GOtv Jinja – ₦3,900
GOtv Jolli – ₦5,800
GOtv Max – ₦8,500
GOtv Supa – ₦11,400
GOtv Supa Plus – ₦16,800

So, whether you’re going for the most affordable option or something with a more premium feel, there’s always a GOtv package that fits comfortably into different lifestyles and budgets.

At a time when everyday decisions are increasingly shaped by cost, GOtv quietly fills an important gap by keeping quality entertainment within reach for more people, because beyond the hustle, the traffic, the deadlines, and the constant pressure of trying to keep up with life in today’s economy, there is still a need for simple moments of joy and escape. Those small pauses in the day where you can switch off, relax, and just enjoy something light without overthinking it.

And that’s really the point: entertainment shouldn’t feel like another financial burden.