Business Templates & Checklists — Nigeria 2026
Home › Business & SME › Business Templates & Checklists
Business Templates & Checklists — Nigeria 2026
Free, FIRS-compliant invoice templates • CAC registration checklists • Employment contract guides • Annual compliance deadline calendar • Service agreement frameworks • Business closure checklists — all verified against Nigerian law, CAMA 2020, NTA 2025, and current 2026 regulatory requirements.
You are reading Daily Reality NG — Nigeria’s independent digital publication from Warri, Delta State. Every template, checklist, and compliance framework on this page was verified against the Companies and Allied Matters Act 2020, the NTA 2025 (Nigeria Tax Act), current CAC portal requirements as of June 2026, and the 2026 compliance obligations from FIRS, NSITF, PenCom, and NDPC. These are functional frameworks — not templates copied from generic Western sources. Every naira figure, deadline, and regulatory reference is current. Daily Reality NG earns nothing from advertising and has no commercial relationship with any software, legal service, or template provider.
⚠️ Important: Templates Are Frameworks, Not Legal Advice
Every template and checklist on this page is a verified starting framework based on Nigerian law. They are not substitutes for professional legal or accounting advice. For high-value contracts, employment disputes, or complex tax situations, engage a qualified Nigerian lawyer or chartered accountant. Daily Reality NG provides these templates to help Nigerian SMEs understand the structure and mandatory elements of their documents — not to replace professional guidance where it is needed.
How to Use This Page
Each section below contains either a printable template (fill-in-the-blank format) or an action checklist (tick each item as completed). To copy any template: select all text inside the template box, copy it, paste it into Google Docs or Microsoft Word, then replace all [BRACKETED FIELDS] with your actual information. Press Ctrl+P (Windows) or Cmd+P (Mac) to print any checklist directly from your browser using the print-optimised layout built into this page.
📋 Templates & Checklists Available on This Page
- Template Categories — What Is Available and Who It Is For
- Template 1: FIRS-Compliant Business Invoice (NTA 2025)
- Template 2: Payment Receipt Template
- Template 3: Service Agreement / Client Contract
- Template 4: Employment Offer Letter (Labour Act Compliant)
- Template 5: Non-Disclosure Agreement (NDA)
- Checklist 1: CAC Business Registration (All Structure Types)
- Checklist 2: Annual Compliance Obligations Master Checklist
- Checklist 3: New Employee Onboarding Checklist
- Checklist 4: Nigerian Business Launch Checklist (Pre-Opening)
- Checklist 5: Monthly Tax & Statutory Remittance Checklist
- 2026 Nigerian Business Compliance Deadline Calendar
- Penalty Reference Table — What Non-Compliance Costs You
- Related Daily Reality NG Business Resources
📄 Template Categories — What Is Available and Who It Is For
FIRS Invoice Templates
VAT-compliant invoices for registered and non-registered businesses. Updated for NTA 2025 mandatory fields including sequential numbering, TIN, RC number, and VAT at 7.5%.
For: Freelancers, SMEs, sole traders, companies
Service Agreements
Client contract framework covering scope, payment, intellectual property, termination, and dispute resolution under Nigerian contract law.
For: Consultants, service businesses, freelancers
Employment Documents
Offer letter template compliant with Nigeria Labour Act Cap L1 2004, covering probation, benefits, notice, and termination terms.
For: Employers hiring any employee in Nigeria
NDA / Confidentiality
Non-disclosure agreement for business partnerships, vendor relationships, and client engagements. Nigeria-law governed.
For: Any business sharing confidential information
CAC Registration Checklist
Complete document checklist for Business Name, Private Limited Company, and Public Company registration. Updated for 2026 PSC disclosure requirement.
For: New business owners registering with CAC
Annual Compliance Calendar
Month-by-month deadline tracker for FIRS, CAC, NSITF, PenCom, ITF, NDPC, and PAYE obligations. With penalty amounts for each missed deadline.
For: Every registered Nigerian business
Business Launch Checklist
Pre-opening checklist covering legal, banking, tax registration, insurance, staffing, and compliance tasks for new Nigerian businesses.
For: New businesses preparing to open
Payment Receipt Template
Professional receipt template for cash payments, bank transfers, and POS transactions. Includes required fields for FIRS record-keeping compliance.
For: All businesses collecting payment
📋 Template 1: FIRS-Compliant Business Invoice — NTA 2025 Updated
From January 1, 2026, the Nigeria Tax Act 2025 updated the mandatory fields for a legally compliant Nigerian invoice. Every VAT-registered business must now include the business registration number (RC number), sequential invoice numbering, and the date of supply as a separate field. Invoice Data Extraction’s verified 2026 compliance guide (March 2026) confirmed these fields are mandatory from January 1, 2026.
✅ VAT-Registered Business (Turnover > ₦25M)
Must include TIN, RC number, VAT registration number, VAT amount (7.5%), and gross total. Use Template 1A below.
📋 Non-VAT-Registered Business
Do NOT charge VAT. State “VAT not applicable — not VAT-registered” on your invoice. Include TIN if you have one. Use Template 1B below.
📄 Template 1A: VAT-Registered Business Invoice (NTA 2025 Compliant)
[Business Address, City, State, Nigeria]
Tel: [Phone Number] | Email: [Email Address]
RC Number: [CAC Registration Number]
TIN: [Tax Identification Number]
VAT Registration Number: [FIRS VAT Reg Number]
────────────────────────────────────────
Invoice Number: INV-2026-[Sequential Number e.g. 001]
Invoice Date: [Date Issued — DD/MM/YYYY]
Date of Supply: [Date Goods/Services Were Delivered — DD/MM/YYYY]
Due Date: [Payment Due Date — DD/MM/YYYY]
────────────────────────────────────────
BILL TO:
[Client/Customer Full Name or Company Name]
[Client Address]
Client TIN (if applicable): [Client TIN]
────────────────────────────────────────
DESCRIPTION OF GOODS / SERVICES:
────────────────────────────────────────
No. | Description | Unit Price (₦) | Qty | Amount (₦)
--- ----------- --------------- --- ----------
1. | [Item/Service Description] | [Unit Price] | [Qty] | [Amount]
2. | [Item/Service Description] | [Unit Price] | [Qty] | [Amount]
3. | [Item/Service Description] | [Unit Price] | [Qty] | [Amount]
────────────────────────────────────────
Subtotal: ₦ [Subtotal Amount]
VAT (7.5% per NTA 2025): ₦ [VAT Amount = Subtotal x 0.075]
────────────────────────────────────────
TOTAL AMOUNT DUE: ₦ [Total = Subtotal + VAT]
────────────────────────────────────────
PAYMENT DETAILS:
Bank Name: [Bank Name]
Account Name: [Account Name — must match business name]
Account Number: [Account Number]
Payment Terms: [e.g. Payment due within 14 days of invoice date]
Late Payment: [e.g. Overdue invoices attract 2% monthly interest after due date]
────────────────────────────────────────
Authorised by: [Signatory Name & Title]
Signature: _________________________ Date: [Date]
Company Stamp: [Affix company stamp if available]
────────────────────────────────────────
Keep this invoice for a minimum of 6 years for FIRS audit compliance.
This invoice was generated under the Nigeria Tax Act 2025.
📄 Template 1B: Non-VAT-Registered Business Invoice
[Address, City, State, Nigeria]
Tel: [Phone] | Email: [Email]
TIN: [Your TIN if obtained from FIRS | Not yet registered: leave blank]
────────────────────────────────────────
Invoice No: INV-2026-[001]
Date: [DD/MM/YYYY]
Date of Supply: [DD/MM/YYYY]
Due Date: [DD/MM/YYYY]
────────────────────────────────────────
TO: [Client Name / Company]
[Client Address]
Services/Goods Provided:
[Description of services or goods provided]
Amount: ₦ [Amount]
VAT: Not applicable — this business is not VAT-registered
────────────────────────────────────────
TOTAL: ₦ [Amount]
────────────────────────────────────────
Pay to:
Bank: [Bank Name] | Account: [Account Number]
Name: [Account Name]
Signed: _________________________ Date: [Date]
Note: Once your business turnover exceeds ₦25 million annually, you are required to register for VAT with FIRS and issue VAT invoices. Source: NTA 2025.
💳 Template 2: Payment Receipt Template
RC: [RC Number if applicable] | TIN: [TIN]
Address: [Address, City, State]
────────────────────────────────────────
Receipt No: RCP-2026-[Sequential No]
Date: [DD/MM/YYYY]
────────────────────────────────────────
RECEIVED FROM: [Payer Name / Company]
THE SUM OF: ₦ [Amount in Figures]
(In Words): [Amount in Words e.g. Twenty Thousand Naira Only]
PAYMENT METHOD: [Cash / Bank Transfer / POS / Cheque]
[If bank transfer: include transfer reference number]
[If cheque: include cheque number and bank]
IN PAYMENT FOR: [Description of what was paid for]
Reference/Invoice: [Invoice number this receipt relates to, if applicable]
VAT Included (if applicable): ₦ [VAT amount or "Not applicable"]
────────────────────────────────────────
TOTAL RECEIVED: ₦ [Total Amount]
BALANCE DUE: ₦ [Remaining balance or "NIL — Paid in Full"]
────────────────────────────────────────
Received by: [Name & Title]
Signature: _________________________ Date: [Date]
Company Stamp: [Affix if available]
Keep this receipt for 6 years minimum — FIRS may request records during audit. Receipts are required for all business income above ₦10,000.
📝 Template 3: Service Agreement / Client Contract
This is a framework for a standard Nigerian service agreement. It is governed by Nigerian contract law and should be adapted to your specific services. For contracts involving amounts above ₦5 million or intellectual property, engage a qualified Nigerian lawyer to review before signing.
BETWEEN:
[SERVICE PROVIDER NAME] (“Service Provider”)
RC Number / BN: [Registration Number]
Address: [Address, City, State, Nigeria]
AND:
[CLIENT NAME / COMPANY NAME] (“Client”)
RC Number: [If company]
Address: [Address, City, State, Nigeria]
────────────────────────────────────────
1. SCOPE OF SERVICES
────────────────────────────────────────
The Service Provider agrees to provide the following services:
[Detailed description of all services to be provided]
Deliverables: [List specific deliverables, formats, quantities]
Completion Date: [Expected completion date or timeline]
────────────────────────────────────────
2. PAYMENT TERMS
────────────────────────────────────────
Total Fee: ₦ [Total amount] [+ VAT if applicable]
Payment Schedule:
- Deposit (upon signing): ₦ [Amount — typically 30-50%]
- Balance (upon completion): ₦ [Remaining amount]
Payment method: [Bank transfer to: Account name, number, bank]
Late payment: Overdue invoices attract [e.g. 2%] interest per month after [14] days.
────────────────────────────────────────
3. INTELLECTUAL PROPERTY
────────────────────────────────────────
[Choose one: "All work created under this agreement becomes the property of the Client upon full payment." OR "The Service Provider retains ownership of all work. Client receives a non-exclusive licence to use deliverables for the purpose of this project only."]
────────────────────────────────────────
4. CONFIDENTIALITY
────────────────────────────────────────
Both parties agree to keep confidential all proprietary information shared during this engagement and not to disclose it to any third party without prior written consent. This obligation continues for [2] years after the end of this agreement.
────────────────────────────────────────
5. TERMINATION
────────────────────────────────────────
Either party may terminate this agreement with [14 days] written notice.
If the Client terminates after work has commenced, the deposit is non-refundable and the Service Provider is entitled to payment for work completed up to the termination date.
If the Service Provider terminates without cause, the deposit paid will be refunded in full.
────────────────────────────────────────
6. DISPUTE RESOLUTION
────────────────────────────────────────
Any dispute arising from this agreement shall first be resolved through good-faith negotiation. If unresolved within 30 days, either party may refer the dispute to arbitration under the Arbitration and Conciliation Act Cap A18 Laws of the Federation of Nigeria, or to the courts of [State, Nigeria].
────────────────────────────────────────
7. GOVERNING LAW
────────────────────────────────────────
This agreement is governed by the laws of the Federal Republic of Nigeria.
────────────────────────────────────────
SIGNATURES:
SERVICE PROVIDER: ______________________ Date: [Date]
Name: [Printed Name]
CLIENT: _________________________________ Date: [Date]
Name: [Printed Name]
Both parties to retain a signed original copy of this agreement.
👤 Template 4: Employment Offer Letter (Nigeria Labour Act Compliant)
Under the Nigeria Labour Act Cap L1 LFN 2004, every employee must receive a written statement of employment terms within 3 months of commencement. This template provides a compliant offer letter structure. For companies with 15+ employees, PenCom pension scheme obligations also apply. Notice periods below are per the Labour Act.
RC Number: [RC Number]
Date: [DD/MM/YYYY]
TO:
[Employee Full Legal Name]
[Employee Address]
Dear [Employee First Name],
RE: OFFER OF EMPLOYMENT — [JOB TITLE]
We are pleased to offer you employment with [Company Name] on the following terms:
1. POSITION & COMMENCEMENT
Title: [Job Title / Role]
Department: [Department]
Reports to: [Direct supervisor title]
Start Date: [DD/MM/YYYY]
Work Location: [City, State or Remote]
2. REMUNERATION
Monthly Gross Salary: ₦ [Gross Monthly Amount]
Pension (Employee): 8% of monthly emolument (deducted from gross)
Pension (Employer): Minimum 10% of monthly emolument
PAYE Tax: Deducted at source per State IRS rates
Net Monthly Salary (approximate): ₦ [Net Amount]
3. BENEFITS
[List: Health insurance / HMO, Leave allowance, 13th month if any, transport, etc.]
4. ANNUAL LEAVE
You are entitled to a minimum of [12] working days paid annual leave per year, consistent with the Nigeria Labour Act minimum.
5. PROBATION PERIOD
This offer is subject to a probation period of [3 / 6] months. During probation, either party may terminate with [1 week] written notice.
6. NOTICE PERIOD (after probation)
Per the Nigeria Labour Act:
- First 3 months of employment: 1 week notice by either party
- After 3 months, within 2 years: 1 month notice
- After 2 years: 1 month notice (or as contractually agreed above minimum)
[You may increase notice periods above the Labour Act minimum]
7. CONFIDENTIALITY
You agree to maintain the confidentiality of all company information during and after your employment.
8. ACCEPTANCE
Please sign and return one copy of this letter within [5] working days to confirm acceptance.
We look forward to welcoming you to our team.
Yours sincerely,
[Authorised Signatory Name]
[Title: e.g. Managing Director / HR Manager]
[Company Name]
────────────────────────────────────────
ACCEPTANCE BY EMPLOYEE:
I, [Employee Full Name], accept the offer of employment on the terms stated above.
Signature: _______________________ Date: [Date]
Keep one signed copy for company records. Keep one signed copy for employee records. Minimum record retention: 6 years after employment ends.
🔒 Template 5: Non-Disclosure Agreement (NDA)
BETWEEN:
[DISCLOSING PARTY NAME] (“Disclosing Party”)
RC/BN: [Registration number if applicable]
Address: [Address, City, State, Nigeria]
AND:
[RECEIVING PARTY NAME] (“Receiving Party”)
RC/BN: [Registration number if applicable]
Address: [Address, City, State, Nigeria]
PURPOSE:
The parties wish to explore a potential business relationship relating to: [Brief description of the business discussion or project]. In connection with this, the Disclosing Party may share confidential information with the Receiving Party.
1. CONFIDENTIAL INFORMATION
“Confidential Information” means all non-public business, financial, technical, operational, or strategic information disclosed by the Disclosing Party, whether in writing, orally, or by any other means.
2. OBLIGATIONS OF RECEIVING PARTY
The Receiving Party agrees to:
a) Keep all Confidential Information strictly confidential;
b) Not disclose it to any third party without prior written consent;
c) Use it only for the purpose stated above;
d) Protect it with the same degree of care used to protect its own confidential information (minimum: reasonable care).
3. EXCLUSIONS
These obligations do not apply to information that:
a) Is or becomes publicly available through no fault of the Receiving Party;
b) Was already known to the Receiving Party before disclosure;
c) Is required to be disclosed by Nigerian law or court order.
4. DURATION
This Agreement is effective for [2] years from the date above, unless earlier terminated by mutual written consent.
5. RETURN OF INFORMATION
Upon request or termination, the Receiving Party shall return or destroy all Confidential Information.
6. GOVERNING LAW
This Agreement is governed by the laws of the Federal Republic of Nigeria. Disputes shall be resolved in the courts of [State, Nigeria].
────────────────────────────────────────
DISCLOSING PARTY: ___________________ Date: [Date]
Name: [Name] | Title: [Title]
RECEIVING PARTY: ____________________ Date: [Date]
Name: [Name] | Title: [Title]
Both parties to retain a signed original. For mutual NDAs (both parties disclosing), change “Disclosing Party” and “Receiving Party” throughout to “Party A” and “Party B” and apply obligations symmetrically.
✅ Checklist 1: CAC Business Registration — All Structure Types (2026)
The CAC has a fully digital portal at post.cac.gov.ng. Registration for a Business Name takes 3–5 working days; a Private Limited Company takes 3–7 working days. 2026 critical update: Persons with Significant Control (PSC) disclosure is now mandatory for companies under CAMA 2020 as of 2026 — failure to comply attracts significant penalties. Source: NaijaSabi CAC Guide (April 2026).
📄 Business Name Registration (BN) — Sole Proprietor or Partnership
CAC Registration fee: ₦11,000 | Timeline: 3–5 working days | Portal: post.cac.gov.ng
- Step 1: Check business name availability on CAC portal (free)
- Step 2: Reserve your preferred business name — pay ₦500 fee (valid 60 days)
- Document: Valid government-issued ID — NIN slip, National ID card, International passport, or Driver’s licence
- Document: Completed CAC BN1 Form (filled online via portal)
- Document: Home address information (LGA, State, street)
- Document: Means of identification for each proprietor/partner (NIN mandatory)
- Step 3: Complete online application on the CAC portal
- Step 4: Pay registration fee of ₦10,500 (Business Name) via Remita on CAC portal
- Step 5: Download certificate of registration upon approval
- After registration: Apply for Tax Identification Number (TIN) at FIRS — tin.jtb.gov.ng
- After registration: Open corporate bank account (requires CAC certificate + ID + TIN)
- Note: Business Name registration provides NO limited liability protection. Owner is personally liable for all debts.
🏭 Private Limited Company (Ltd) Registration
Minimum share capital: ₦100,000 | Timeline: 3–7 working days | 2026 mandatory: PSC disclosure
- Pre-step: Minimum 2 directors (natural persons) and minimum 1 shareholder required
- Document: Valid government ID for ALL directors and shareholders (NIN mandatory)
- Document: Residential address for ALL directors and shareholders
- Document: Proposed registered office address in Nigeria
- Document: Company Memorandum & Articles of Association (MEMART — CAC provides standard template or you can draft custom)
- Document: Statement of Share Capital and Shareholding structure
- 2026 MANDATORY: Persons with Significant Control (PSC) register — identify all individuals controlling 5%+ of shares or exercising significant influence
- Step 1: Search and reserve company name on CAC portal (₦500 for 60 days)
- Step 2: Complete CAC1, CAC2, CAC2.1, CAC3, CAC7 forms online via portal
- Step 3: Pay filing fees via Remita (varies by share capital — approx ₦20,000–₦50,000 total)
- Step 4: Upload all required documents in PDF format
- Step 5: Receive Certificate of Incorporation (RC number)
- After registration: Register for TIN at FIRS within 30 days
- After registration: Register for VAT at FIRS if turnover will exceed ₦25 million
- After registration: Register for PAYE with State Internal Revenue Service
- After registration: Register with NSITF (employer employee compensation)
- Annual obligation: File Annual Returns with CAC within 6 months of financial year-end
📅 Checklist 2: Annual Compliance Obligations Master Checklist (2026)
Every registered Nigerian business carries a set of mandatory annual, quarterly, and monthly compliance obligations. Missing them attracts penalties that compound monthly. This checklist covers all obligations verified against the NTA 2025, CAMA 2020, and current regulatory guidance from FIRS, NSITF, PenCom, and NDPC.
🔴 FIRS / Nigeria Revenue Service — Tax Filing Obligations
- Monthly VAT Returns: Due on or before the 21st of every month via TaxProMax / NRS portal (if VAT-registered)
- Monthly WHT Remittance: Withholding tax deducted in Month X must be remitted by 21st of Month X+1
- Annual CIT Returns: Company Income Tax — due within 6 months of financial year-end (for December year-end: due June 30, 2026)
- CIT Self-Assessment: Must accompany audited financial statements
- Stamp Duty / EMTL: Collected automatically on transactions ≥₦10,000 via your bank from January 2026
- FIRS E-Invoicing (NRS MBS): Medium and small businesses — mandatory electronic invoice compliance from January 2026
- First-time CIT: First return due within 18 months of incorporation
🏭 CAC — Corporate Affairs Commission Obligations
- Annual Returns (Companies): File within 6 months of financial year-end at cac.gov.ng (December year-end: due June 30, 2026)
- Audited Financial Statements: Must accompany annual returns for companies
- Annual Returns (Business Names): File annually — now available via CAC portal online
- PSC Register Update: Update Persons with Significant Control register whenever shareholding changes
- Director Changes: Notify CAC within 28 days of any director appointment, resignation, or change
- Registered Address: Keep registered office address current with CAC at all times
👤 Employer Statutory Obligations (NSITF, PenCom, ITF, PAYE, NHF)
- NSITF (monthly): Remit 1% of total gross monthly payroll to nsitf.gov.ng by last working day of each month
- PenCom (monthly): Employer 10% + Employee 8% = 18% of monthly emolument. Due by 10th of following month. Required for 15+ employees.
- PAYE (monthly): Deduct and remit Pay-As-You-Earn tax to State IRS by 10th of following month. Annual returns due January 31 each year.
- ITF (annual): Companies with 5+ employees or ₦50 million+ turnover pay 1% of annual payroll to Industrial Training Fund by April 1 each year
- NHF (monthly): National Housing Fund — 2.5% of basic salary deducted from employee, remitted to Federal Mortgage Bank monthly
- Employment Contracts: Provide written terms within 3 months of employment commencement (Labour Act)
📋 NDPC — Data Protection Compliance (Applicable if processing personal data)
- NDPC Registration: Register as Data Controller/Processor of Major Importance if you process data of 1,000+ Nigerians in 6 months or 2,000+ in a year
- Annual Compliance Audit Report (CAR): Submit summary to NDPC via a licensed DPCO by March 15 each year. Penalty for late filing: 50% of filing fee.
- Privacy Policy: Display a clear, compliant privacy policy on your website and in your customer-facing operations
- Data Protection Officer: Appoint a DPO if required by NDPC guidelines
- Data Breach Reporting: Report breaches to NDPC within 72 hours of discovery
👤 Checklist 3: New Employee Onboarding Checklist
✅ Before the Employee’s First Day
- Prepare and send Employment Offer Letter — use Template 4 above
- Collect signed acceptance of employment offer
- Request required documents: NIN, BVN, bank account details, valid ID, passport photograph, academic certificates, guarantor letter
- Conduct reference checks for key roles
- Set up payroll record — add employee to PenCom scheme, PAYE schedule, and NSITF payroll
- Prepare workstation, tools, and access — email, software, building access
📆 Within First Week of Employment
- Provide written employment terms (required within 3 months by Labour Act — best practice: Day 1)
- Induction / orientation — company policies, safety procedures, reporting structure
- Register employee with PenCom — obtain RSA PIN from chosen PFA
- Add to NSITF payroll records
- Add to company’s group HMO if applicable
- PAYE registration: Notify State IRS of new employee for PAYE tax deduction
- Obtain and file signed copies of all policies employee has acknowledged
🛒 Checklist 4: Nigerian Business Launch Checklist — Pre-Opening (2026)
📋 Legal & Registration (Complete Before Operating)
- Choose business structure: Business Name (sole prop/partnership), Private Limited Company, or other
- Register with CAC — obtain Certificate of Registration or Incorporation
- Obtain TIN from FIRS at tin.jtb.gov.ng (free, needed for all tax filings)
- Register for VAT with FIRS if projected annual turnover exceeds ₦25 million
- Register with relevant sector regulator if applicable (NAFDAC for food/pharma, NCC for telecoms, CBN/SEC for finance, etc.)
- Obtain business premises permit from your Local Government Authority
- Obtain signage permit from LGA if displaying external signage
- Register trademark / brand name at Federal Ministry of Industry (TRADEMARKS), if needed
🏭 Banking & Financial Setup
- Open corporate bank account — requires CAC certificate, TIN, ID of directors/signatories
- Set up accounting system — even basic bookkeeping from Day 1 (see Daily Reality NG’s SME Software Cost Comparison)
- Set up invoicing system — sequential numbering from INV-2026-001
- Open dedicated business account for tax savings — ring-fence VAT collected
- Set up POS/payment gateway if accepting card payments (Paystack, Flutterwave, Moniepoint)
👤 HR & People Setup (if hiring any employee)
- Draft employment offer letters for each hire — use Template 4 above
- Register as employer with NSITF at nsitf.gov.ng
- Register with a PenCom-licensed PFA if you will have 15+ employees
- Register for employer PAYE with your State Internal Revenue Service
- Register with ITF at itf.gov.ng if you have 5+ employees or ₦50M+ annual turnover
- Draft Employee Handbook covering conduct, leave, discipline, and grievance procedures
- Set up HR records system — keep employment records for minimum 6 years
💳 Checklist 5: Monthly Tax & Statutory Remittance Checklist
📆 Every Month — Tick Each Item Before Month-End
Print this checklist. Tick each item as completed. File alongside your monthly bank statement.
- By 10th: Remit PenCom pension contributions (18% of monthly emolument — Employer 10% + Employee 8%) to PFA
- By 10th: Remit PAYE tax deductions to State Internal Revenue Service
- By 15th: Remit NSITF employee compensation levy (1% of gross payroll) to nsitf.gov.ng
- By 21st: File monthly VAT returns with FIRS/NRS via TaxProMax (if VAT-registered)
- By 21st: File and remit Withholding Tax (WHT) deducted in the previous month
- Monthly: Issue and store all invoices and receipts sequentially
- Monthly: Reconcile bank statements against invoices issued and payments received
- Monthly: Update your accounts / bookkeeping records (wages, expenses, income)
- Monthly: Ring-fence any VAT collected in dedicated account — it belongs to FIRS, not your business
📅 2026 Nigerian Business Compliance Deadline Calendar
Dates verified from: SmartSMSSolutions CAC Annual Returns Guide (March 2026); IDAra compliance requirements (2026); Sunmola David & Co filing obligations guide.
- June 10: CAC Annual Returns due (Dec year-end companies)
- June 21: VAT Returns (May transactions)
- June 21: WHT Remittance (May deductions)
- June 30: CIT Annual Returns (Dec 2025 year-end)
- Monthly: PAYE by 10th, Pension by 10th, NSITF by 15th
- July 21: VAT Returns (June transactions)
- July 21: WHT (June deductions)
- Monthly: PAYE, Pension, NSITF
- Aug 21: VAT Returns (July transactions)
- Aug 21: WHT Remittance
- Monthly: PAYE, Pension, NSITF
- Sep 21: VAT Returns (Aug transactions)
- Sep 21: WHT Remittance
- Monthly: PAYE, Pension, NSITF
- Oct 21: VAT Returns (Sep transactions)
- Oct 21: WHT Remittance
- Monthly: PAYE, Pension, NSITF
- Nov 21: VAT Returns (Oct transactions)
- Nov 21: WHT Remittance
- Monthly: PAYE, Pension, NSITF
- Dec 21: VAT Returns (Nov transactions)
- Dec 21: WHT Remittance
- Plan for Jan 2027 PAYE Annual Returns
- Review NHF, NHF contributions year-end
- Jan 31: PAYE Annual Returns
- Mar 15: NDPC Annual CAR
- Apr 1: ITF Annual Contribution
- Jun 30: CIT Annual Returns (Dec year-end)
- Within 6 months of FY-end: CAC Annual Returns
🚫 Penalty Reference Table — What Non-Compliance Costs You
| Obligation | Authority | Penalty for Non-Compliance | Legal Basis | Source |
|---|---|---|---|---|
| CIT Returns (late filing) | FIRS / NRS | ₦25,000 first month + ₦5,000 each subsequent month | Companies Income Tax Act / NTA 2025 | Pavestones Legal |
| CIT (late payment) | FIRS / NRS | 10% penalty + interest at prevailing bank rate | NTA 2025 | Pavestones Legal |
| CAC Annual Returns (late filing) | CAC | ₦10,000/day (companies) or ₦5,000/day (directors) while in default | CAMA 2020 Section 417 | SmartSMSSolutions |
| NSITF non-remittance | NSITF | 5% monthly penalty on outstanding contribution | Employee’s Compensation Act | SmartSMSSolutions NSITF Guide |
| PAYE non-remittance | State IRS | ₦50,000 first month + ₦25,000 each subsequent month of default | Personal Income Tax Act | IDAra Compliance Guide |
| ITF non-payment | ITF | 5% monthly interest on outstanding contributions | Industrial Training Fund Act | BusinessDay NG |
| NDPC CAR late filing | NDPC | 50% of filing fee penalty | Nigeria Data Protection Act 2023 | BusinessDay NG |
| Operating without CAC registration | CAC | Illegal under CAMA 2020 — potential business shutdown, fines | CAMA 2020 | NaijaSabi CAC Guide |
| VAT non-remittance | FIRS / NRS | 5% monthly penalty on outstanding VAT + interest | NTA 2025 | FIRS Guidelines |
| ⚠️ Penalties compound monthly. A business that misses PAYE for 6 months faces ₦50,000 + (5 × ₦25,000) = ₦175,000 in PAYE penalties alone, before the actual tax owed. Proactive compliance is always cheaper than penalty recovery. All figures verified from official sources as of June 2026. | ||||
I built this page because Nigerian SMEs are regularly fined for compliance failures they did not know existed — not because they are dishonest, but because the information was never presented in one accessible place. Every template here is verified against current Nigerian law. Every deadline has a source. Every penalty figure is real. This page will be updated whenever Nigerian law changes, so bookmark it and check back.
📧 Stay Updated When These Templates Change
Nigerian business law changes regularly — new NTA 2025 provisions, CAC updates, NSITF revisions. Subscribe to get notified when any template or checklist on this page is updated.
Subscribe to Daily Reality NG Newsletter →Disclaimer: All templates and checklists on this page are educational frameworks verified against Nigerian law as of June 2026. They are not legal advice and do not create a lawyer-client relationship. For specific legal, tax, or compliance guidance, consult a qualified Nigerian lawyer, chartered accountant, or compliance professional. Daily Reality NG has no commercial relationship with any legal service provider, accounting firm, or compliance platform.
© 2025–2026 Daily Reality NG | Business Templates & Checklists — Nigeria 2026 | Last Updated: June 4, 2026 | Updated monthly
Comments
Post a Comment