Eleven Nigerian banks paid about N8.08bn Information Technology-related levies to the government in 2019, the audited financial reports of the banks have shown.
Analyses of the financial reports indicated that this is a reduction of N381.12m over the N8.46bn IT levy the 11 banks paid to the government in the corresponding period in 2018.
Some of the banks, whose annual reports were assessed are Zenith Bank Plc, First City Monument Bank, Access Bank Plc, Guaranty Trust Bank Plc, United Bank for Africa Plc, Sterling Bank Plc and First Bank of Nigeria Limited.Zenith Bank paid the highest IT levy out of all the banks in 2019, reporting N2.41bn, a 17 per cent increase from N2.06bn remitted in 2018.
IT tax expenses reported by First Bank rose by three per cent from N774m in the 2018 to N795m in 2019. FCMB’s IT tax levy paid to the Nigerian government increased by 66 per cent from N120.46m reported in 2018 to N200.18m in 2019.With N102m reported in 2019, Sterling Bank’s IT levy paid to the government increased by four per cent from the N98m reported in 2018.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
COVID-19: Police intercept Sokoto travellers at Osun-Oyo boundary - Daily Post NigeriaOyo State Police Command on Saturday arrested no fewer than eleven travelers from Sokoto in Ibadan, the state capital. The eleven travelers defied the
Read more »
Access Bank to cut staff salaries to avoid lay off | The Guardian Nigeria News - Nigeria and World NewsNigeria’s Access Bank Plc is planning to cut staff salaries to avoid laying off as coronavirus continues to ravage the world and affect global economies, Bloomberg reported. Bloomberg on Friday reported that “people with direct knowledge of the matter” said the pay cuts are expected to start from May unless business conditions improve. The sources …
Read more »
Judge Rules Against Equal Pay For US Women Soccer TeamJudge Rules Against Equal Pay For US Women Soccer Team
Read more »
COVID-19: Nigeria Hasn’t Paid Sufficient Attention To Building Diagnostic Infrastructure Since Independence, Says NCDC DGCOVID-19: Nigeria Hasn’t Paid Sufficient Attention To Building Diagnostic Infrastructure Since Independence, Says NCDC DG
Read more »
Dele Momodu clears air on death rumour of former Speaker, Ghali Na’Abba - Daily Post NigeriaPopular media mogul, Dele Momodu, has debunked the reported death of former speaker of the House of Representative, Ghali Umar Na' Abba. Reports had
Read more »
EXCLUSIVE: Nigerian govt demands bank records of 60 companies, individuals from U.S. banks over P&ID case (FULL LIST)The Nigerian government is demanding records of 60 companies and individuals from 10 banks in the United States as part of its efforts to overturn ...
Read more »