Check the Top 10 Banks with Income Tax Increases of 28% To N260bn In 2022. 

Check the Top 10 Banks with Income Tax Increases of 28% To N260bn In 2022. 

To improve the country’s revenue drive, 10 commercial banks listed in the Nigerian Exchange Group, NGX, paid N260.3 billion in company income tax (CIT, in 2022.

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NewsReport Nigeria indicate that the figure represents a 28 percent increase compared to the N203.6 billion paid in 2021.

The banks disclosed this in their audited financial statements for 2022.

The contributing banks are Access, GTBank, UBA, Fidelity, and Zenith.

Others are Union, Sterling, Ecobank, Stanbic, and Unity banks.

Meanwhile, the National Bureau of Statistics said the total CIT collections rose to N2.8 trillion in 2022 from N1.67 trillion in 2021.

Recall that Nigeria recorded the highest tax receipt in 2022, to the tune of N10 trillion.