Nigerian Fintech Duplo Gets Tax Licence to Help Businesses

For businesses scrambling to meet Nigeria's new electronic invoicing deadline, there's now a simpler path forward.

Duplo, a Nigerian fintech company, has received two key licences from the Nigeria Revenue Service that allow it to be a one-stop shop for invoicing, tax compliance, and payments. The Systems Integrator and Access Point Provider licences mean businesses can now generate tax-approved invoices, transmit them to the government, and settle payments without juggling multiple platforms.

The timing matters. Nigeria is rolling out a mandatory e-invoicing system that requires businesses to electronically generate and submit invoices in real time. Large companies have already been brought into the system, and starting July 1, medium-sized businesses with annual revenue between $721,000 and $3.6 million must comply.

The penalties for missing the deadline are steep. Companies face a $144 fine upfront, plus $7 daily penalties and a 100% tax surcharge on unreported transactions. Even worse for business operations, invoices without the official digital stamp make it impossible to claim input VAT, which can damage relationships with other businesses.

"Africa's next growth phase requires robust financial systems, not temporary patches," said Yele Oyekola, Duplo's CEO and co-founder. "We are providing the single operational layer that finally connects payments, invoicing, and tax logic."

Founded in 2021, Duplo builds tools that help African businesses manage payments and operational workflows. The company now joins a growing network of firms accredited by Nigeria's tax authority to handle secure transaction data, including payment companies like Moniepoint and Flutterwave.

The Ripple Effect

What makes Duplo's approach different is the integration. While other companies have built separate e-invoicing tools, Duplo is connecting all three pieces: invoicing, compliance, and payment settlement in one ecosystem.

That matters for businesses already stretched thin. Instead of adopting new software, training staff on multiple systems, and manually ensuring everything syncs up, companies can plug their existing systems directly into Nigeria's national tax infrastructure through Duplo.

The move could help smooth Nigeria's transition to digital tax collection while making it easier for businesses to grow without drowning in administrative work. As Oyekola puts it, "You don't scale payment operations by adding headcount. You scale by automating decisions and standardising the infrastructure of your business."

Thousands of Nigerian businesses now have a clearer runway for the July deadline.