tax

Otedola, Elemelu back FG on forex windfall tax

Ajibola1 month ago04 mins

In a significant development, Group First Bank Chairman, Femi Otedola and the Chairman of the African Union Bank (UBA), Tony Elumelu, have expressed support for the Federal Government’s new forex windfall tax. This decision follows President Bola Tinubu’s motion on July 17 in the National Assembly to amend the Finance Bill, 2023, which unilaterally imposes…

FCMB records recorded a profit before tax of ₦104.4 billion

Ajibola4 months ago06 mins

FCMB Group Plc grew deposits, loans, assets under management, revenue and earnings and improved its environmental, social, and corporate governance scorecard. The Group recorded a profit before tax of ₦104.4 billion, a 186% year-on-year (YoY) increase compared to ₦36.6 billion in 2022 and earnings growth across its business segments: Banking Group 212.6%, Consumer Finance 67.3%,…

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Otedola, Elemelu back FG on forex windfall tax

FCMB records recorded a profit before tax of ₦104.4 billion

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