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Banks to pass tax compliance costs onto customers

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Banks to pass tax compliance costs onto customers

07 May, 2026

Nigerian consumers may face higher banking and service charges as financial institutions adjust to the compliance demands of the country’s tax regime, raising concerns that the burden of reform could ultimately be passed down the value chain. “All of these costs are going to be passed on to the customer, by either the bank that is on-lending to them or whatever the case may be,” Albert Folorunsho, managing consultant at Pedabo, said..............................….......READ MORE