Nigeria Tax Administration Act, 2025 · s.102
Failure to keep books
₦50,000 for a company, ₦10,000 for anyone else.
Who this lands on: Anyone who cannot produce records when the tax authority asks.
The charge applies both to not keeping accounts and records that allow the tax to be worked out, and to failing to produce a record when it is requested.
₦50,000 for a company; ₦10,000 for a person who is not a company.
The fine is small. The real cost is being assessed on the authority's judgement instead of your figures.