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Campus Drive
Eight commercial banks paid N200.19 billion as income tax in the first quarter of 2024 (Q1’24).
Data from the First Quarter of 2024 Financial Statements of the banks showed that N200.19 billion represents a 203.7% year-on-year increase (YoY) when compared to the N65.91 billion tax they paid in Q1’23.
The banks are Guaranty Trust Bank(GTB), Access Bank, Fidelity Bank, Stanbic IBTC, United Bank for Africa, (UBA), First City Monument Bank, (FCMB) and Wema Bank.
The profit before tax (PBT) of the eight banks stood at N1.33 trillion representing 355% growth from N374.82 billion recorded in the corresponding period of 2023, with the percentage of tax from the PBT of the eight banks being 15.04%.
Israel has accused South Africa of distorting reality in its attempt to get the UN's top court to force it to stop its military campaign in the town of Rafah in southern Gaza. The International Court of Justice (ICJ) began two days of hearings on Thursday, when South Africa told the court that Israel intended to "wipe [the Palestinians] off the face of the Earth", calling Rafah "the final stand". […]
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