Velvot has introduced Finverse, an electronic invoicing platform designed for Nigerian enterprises with annual gross turnover of ₦5 billion and above. The rollout follows the Nigeria Revenue Service's 31 July 2026 deadline requiring large taxpayers to complete onboarding, integration and testing and begin transmitting invoices under the national e-invoicing and Electronic Fiscal System, known as the Merchant Buyer Solution.
The NRS has started compliance monitoring and has indicated that defaulters may face enforcement action under applicable tax laws.
According to product information from Velvot, Finverse is registered by the NRS as both a System Integrator and an Access Point Provider. The two designations carry separate functions within the MBS framework. System Integrators link a company's enterprise resource planning and financial management platforms to the NRS e-invoicing infrastructure, while Access Point Providers handle the secure exchange, validation, transmission and receipt of electronic invoices between businesses and the platform. Operating in both roles allows Finverse to serve as a single provider for enterprises entering the e-invoicing ecosystem.
Large taxpayers must complete the NRS onboarding and integration process, validate their systems and transmit invoices in line with prescribed standards. They are also required to verify that incoming invoices satisfy the rules, including holding valid Invoice Reference Numbers.
Velvot argues that e-invoicing is an enterprise-wide obligation rather than a standalone IT upgrade or finance project. Chief Financial Officers are responsible for accurate invoice records, reconciliation and financial controls, while Chief Technology Officers must connect ERP, accounting and financial management systems to the NRS platform and manage the resulting data flows. Chief Executive Officers carry responsibility for business continuity, accountability and a coordinated implementation plan, and boards oversee regulatory obligations, technology risk and progress. Procurement, sales, customer service and supply chain teams are also affected wherever invoice exchange forms part of a commercial relationship.
For large enterprises assessing providers, Velvot outlines six factors: regulatory alignment covering NRS onboarding, integration, testing and transmission; system integration with existing ERP, accounting and billing applications; data quality and process readiness; security and access management; implementation and support; and business continuity and governance.
