Velvot Launches Finverse E-Invoicing for Large Taxpayers

In Short

Velvot has launched Finverse, an e-invoicing solution for Nigerian businesses with annual gross turnover of ₦5 billion and above.

The product follows the Nigeria Revenue Service deadline for large taxpayers to begin transmitting invoices under its national e-invoicing and Electronic Fiscal System, also known as the Merchant Buyer Solution.

What Happened: How Finverse Fits Into The NRS Merchant Buyer Solution

Velvot says Finverse is listed by the Nigeria Revenue Service as both a System Integrator and an Access Point Provider.

In the Merchant Buyer Solution ecosystem, these are two separate roles. A System Integrator connects a company’s business systems, including enterprise resource planning and financial management platforms, to the Nigeria Revenue Service e-invoicing infrastructure. An Access Point Provider facilitates the secure exchange, validation, transmission and receipt of electronic invoices between businesses and the platform.

Velvot’s position is that running both roles through Finverse gives enterprises a single provider for connecting their systems and transmitting invoices into the Nigeria Revenue Service e-invoicing ecosystem.

Why It Matters: Compliance Pressure And Enterprise-Wide Work

The Nigeria Revenue Service has started compliance monitoring and warned that taxpayers who default may face enforcement action under applicable tax laws.

Under the framework, affected companies must complete onboarding and integration, validate their systems, and transmit invoices to prescribed standards. They must also check that incoming invoices meet requirements, including valid Invoice Reference Numbers.

Velvot also frames e-invoicing as an enterprise-wide responsibility. The article notes responsibilities across CFOs, CTOs, CEOs, boards, and operational teams wherever invoice exchange is part of commercial relationships.