Under new tax law, banks to report transactions above N5m monthly effective 2026

Nigerian banks have been directed to report all customer accounts with monthly transactions exceeding N5 million to the country’s tax authorities, according to the latest update from the National Orientation Agency (NOA). This mandate was part of a sweeping tax reform signed into law, geared towards improving tax compliance, stemming financial irregularities, and aligning Nigeria’s [...]The post Under new tax law, banks to report transactions above N5m monthly effective 2026 first appeared on Business Hallmark.

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