Nigerian Banks At Inflection Point As A 70% Windfall Tax Awaits on Forex Gains
Poor bankers and their Bankers Committee. Unfortunately, the support from KPMG, PwC, and Ndubuisi could not help them as the Nigerian Senate has retroactively changed the tax laws, to collect extra cash on those windfall Forex-related gains. Initially, the proposal was 50%, but the Senators updated it to 70%: “The Nigerian Senate has on Tuesday, […]
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