Customers Lament 7.5% VAT, Urge CBN to Sanction Banks for Exploitation

Customers lament 7.5% VAT, urge CBN to sanction banks for exploitation

Many bank customers have frowned at the 7.5 per cent Value Added Tax(VAT) on selected electronic banking services, saying taxes are becoming too much for citizens. Some of them who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, appealed to the Central Bank of Nigeria (CBN) The post Customers lament 7.5% VAT, urge CBN to sanction banks for exploitation appeared first on National Accord Newspaper.

7.5% VAT: Customers cry out, want CBN to caution banks over exploitations

Many bank customers have frowned at the 7.5 per cent Value Added Tax(VAT) on selected electronic banking services, saying taxes are....

7.5% VAT on E-Banking: Why Customers Want CBN to Rein in Bank Charges

Nigeria’s push to widen its tax net has collided with everyday banking realities, as customers push back against the 7.5% Value Added Tax (VAT) applied to selected electronic banking services. While the tax is legally chargeable on service fees—not transferred amounts—users say the stacking of levies is eroding trust, discouraging formal banking usage, and worsening …