Legal and regulatory challenges: Can Nigeria’s Windfall Tax on banks hold up?
In July 2024, Nigerians were greeted with the news of a letter, accompanied by an executive bill, submitted by President ...
Tag: windfall tax
70% Windfall Tax – Economists raise mixed concerns over Nigeria’s growth outlook
The 70% windfall tax on Nigerian banks has stirred debate in the financial sector, raising concerns about its impact on ...
Nigeria’s 70% windfall bank tax: Rewarding effort, taxing Luck
The concept of a windfall tax is straightforward: when certain sectors or companies profit disproportionately from external factors—such as government ...
Stanbic IBTC says FX gains constitute only 10% of its profit
Stanbic IBTC Plc, the Nigerian unit of Standard Bank Group Ltd., expects the proposed windfall tax on foreign exchange gains ...
Explained: Nigeria’s 70% windfall tax and its economic necessity
A few months ago, the Nigerian government introduced plans to implement a 50% windfall tax targeting banks' foreign exchange transaction ...
70% windfall tax is ill-timed and excessively high – Nigeria Directors
The Chartered Institute of Directors Nigeria (CIoD) has raised concerns over the newly approved 70% windfall tax on profits from ...
Bank Directors call on National Assembly to revisit 70% windfall tax, says it is ill-timed, burdensome
The Bank Directors Association of Nigeria, (BDAN) has called on the National Assembly to revisit the 70% windfall tax amendment ...
Windfall Tax: Why Nigerian banks are still positioned for resilient growth
Given the recent policy shifts affecting the Nigerian banking sector, including the Central Bank of Nigeria's (CBN) revised capital requirements ...
We support the government on windfall tax- Tony Elumelu
The Chairman of United Bank for Africa (UBA), Mr. Tony Elumelu has rendered his support for the recently passed windfall ...
Only 10% of our 2023 FX gains are realized – FCMB Group CEO
The Group CEO of FCMB Group, Ladi Balogun has stated that only about 10% of the bank’s foreign exchange gains ...
