FIRS: Imposes 10% Tax On Interest From All Short-Term Assets
November 1, 2025
4:11 am
FIRS orders banks and brokers to deduct 10% withholding tax on interest from treasury bills, bonds, and other short-term investments from 2025.
The Federal Inland Revenue Service (FIRS) has announced a new 10% Withholding Tax (WHT) on interest earned from short-term securities, directing banks, stockbrokers, and financial institutions to begin automatic deductions at payment points.
The move, outlined in a circular released this week, marks a significant policy shift aimed at broadening Nigeria’s tax base and improving domestic revenue mobilization. The new measure covers treasury bills, corporate bonds, promissory notes, and bills of exchange — ending a long-standing exemption policy …
