Nigeria's House of Representatives summons banks to explain Education Tax under-remittance to TETFund (2011-2022).
Nigeria's House of Representatives summons commercial banks to explain under-remittance of Education Tax to Tertiary Education Trust Fund (TETFund) between 2011-2022. Banks allegedly relied on a 2011 tax exemption order that does not mention Education Tax. Out of 15 invited banks, only three appeared, while First Bank has a reported N3.749bn outstanding Education tax liability.
May 28, 2024
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