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 ...
Tag: windfall tax
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 ...
Nigerian Banks incur N575.168 billion in taxes in 2023 as FG plans 50% Windfall tax
In 2023, eleven Nigerian banks incurred a total of N575.168 billion in taxes, marking a significant 175% increase compared to ...
Shareholders condemn FG’s 50% windfall tax on banks’ forex gains
The New Dimension Shareholders Association of Nigeria has strongly criticized the Federal Government's decision to impose a 50% windfall tax ...
KPMG faults FG’s 50% windfall tax, says legal disputes may arise
Global tax and advisory service firm, KPMG Nigeria has criticised the 50% windfall tax on the bank’s foreign exchange revaluation ...
Bank stocks fall in early trading as investors digest 50% windfall tax
Early trading data in the Nigerian Exchange has shown a pattern of decline across bank stocks, as investors react to ...
