The government has brought clarity now on the banks’ FX-induced profits: “[Nigerian government] has petitioned the Senate for a substantial budget increase of N6.2 trillion. This request, if approved, will elevate the 2024 appropriation act from N28.7 trillion to a staggering N34.9 trillion….To fund the budget expansion, Tinubu’s administration is targeting the financial sector with … Continue reading The Nigeria’s Windfall Tax on Banks