Nigeria’s Proposed Foreign Exchange and Tax Reforms: Navigating Tricky Transitions

ByResearch Department

By Ebere Frankline Chisom[1] Introduction Nigeria’s foreign exchange management and tax policies have long suffered from myriad challenges in regulation, implementation, and enforcement. However, catalysed by the Tinubu administration’s ambitious economic agenda, Nigeria now stands at the cusp of another major overhaul of its foreign exchange and tax frameworks. The slate of proposals by the…

Central Bank’s Recapitalization Directive: A Shift in Nigeria’s Banking Sector

ByResearch Department

In a seminal move aimed at fortifying Nigeria’s banking landscape, the Central Bank of Nigeria (CBN) recently issued a memo mandating a comprehensive review of the Minimum Capital Requirement for operating commercial banks. Under this directive, commercial banks are now required to maintain a minimum capital of N500 billion for international authorization and N200 billion…