Nigeria: Bank Charges, Multiple Taxes Major Burden for Nigerian Businesses

Nigeria: Bank Charges, Multiple Taxes Major Burden for Nigerian Businesses

A survey by the Central Bank of Nigeria (CBN) has revealed that high bank charges, multiple taxation, and poor infrastructure remain the leading challenges confronting businesses across the country. The findings, contained in the CBN's Business Expectations Survey for September 2025, also showed that many firms expect inflation to remain elevated over the next six months despite recent improvements in economic indicators.