Senate passes Finance Act amendment bill
The Nigerian senate yesterday passed the amendment bill of the 2023 Finance Act and increased the windfall levy on banks’ foreign exchange revaluation gains from 50% as proposed by the President to 70%. The Chairman of the Senate Committee on Finance, Sani Musa read the report of the Committee on Finance before it was finally passed, stating that the levy shall be 70% of the realised profits of all exchange […]
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