Blogs

CBN’s EFT Services Regulations: Look who Rocks the Cradle

CBN’s EFT Services Regulations: Look who Rocks the Cradle

By its circular dated September 13, 2018, the Central Bank of Nigeria (CBN) released the Regulations on Instant (Inter – Bank) Electronic Funds Transfer Services in Nigeria (the Regulations). The Regulations becomes effective from October 2, 2018 and will regulate instant electronic funds transfer (EFT) services and their providers. The Regulations...

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FIRS Memo on WHT Credits Utilization: What Misgivings?

FIRS Memo on WHT Credits Utilization: What Misgivings?

An internal memo of the Federal Inland Revenue Service (FIRS) dated July 25, 2018 and captioned “Re: Circular on Withholding Tax Utilisation and K-Card Update Key Deliverables” (Memo) has become public knowledge. The Memo directed all Tax Controllers and State Monitors to issue to taxpayers, a letter in a template captioned “Overpayments/Withholdin...

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