FG Links Late Tax Interest to CBN MPR From October 1

The Federal Government (FG) will change how interest on late naira tax payments is calculated from October 1, 2026, linking the rate to the Central Bank of Nigeri a’s (CBN) Monetary Policy Rate (MPR) instead of using a fixed interest formula. Under a new order signed by the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, interest on overdue naira tax payments will be charged at the MPR plus one percentage point. The order, issued under Section 65 of the Nigeria Tax A