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 ...
Tag: windfall tax
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 ...
Otedola announces support for windfall tax, urges banks to curb private jet expenses
The Chairman of FBN Holdings and acclaimed strongman of the financial and capital markets, Femi Otedola has thrown his weight ...
Nigeria may get up to 0.3% of 2024 GDP as revenue from windfall tax on banks’ FX gains
Nigeria's proposed windfall tax on foreign-currency revaluation gains of Nigerian banks could generate up to 0.3% of the country's Gross ...
Senate passes Finance Act amendment bill, increases banks’ windfall levy to 70%
The Nigerian senate yesterday passed the amendment bill of the 2023 finance act and increased the windfall levy on banks foreign ...
Windfall tax: FG collecting taxes on already reported profit could deter future investment – PwC
Tax and Advisory Service firm, PricewaterhouseCoopers (PwC) has stated that the federal government’s latest legislation to tax already reported profits ...
