The Nigerian senate yesterday passed the amendment bill of the 2023 finance act and increased the windfall levy on banks foreign exchange revaluation gains from 50% as proposed by the President to 70%.
Global tax and advisory service firm, KPMG Nigeria has criticised the 50% windfall tax on the bank’s foreign exchange revaluation gains recorded in 2023 stating that it could result in a legal dispute.
Nairametrics presents the 17 companies licensed by the Central Bank of Nigeria (CBN) to provide mobile money services.
According to findings by Nairametrics, the CBN has been supplying commercial banks with damaged and faded N50 notes
MAN has urged the CBN to direct commercial banks to process FOREX allocation applications by manufacturers transparently.
An Abuja division of the Federal High Court has discharged four commercial banks in Nigeria from a proceeding...
Commercial Banks in Nigeria are increasingly borrowing cash from the central bank’s Standing Lending Facility.
While the cost of funds to banks was declining, the lending rate to customers was on the rise, a signal of exploitation by banks.
The Central Bank debited banks a whopping N8.3 trillion as CRR provisions in 2020 up 58% YoY.
The meeting was adjourned to Wednesday after the Tuesday discussions on the issues surrounding the commercial dispute were inconclusive.
Since the rise fintechs, commercial banks are forced to do better in terms of providing better services and good customer responses.
Banks in Nigeria have intensified their digital marketing efforts, as they encourage their customers to stay safe by adopting online banking
