Inflation Drives Increase in Value Added Tax

June 13, 2024/CSL Research Value Added Tax (VAT) surged by 101.7% year-on-year to N1.43trn in Q1 2024, up from N709.59bn in Q1 2023, according to the National Bureau of Statistics (NBS). On a quarterly basis, VAT increased by 19.2% from N1.20trn in Q4 2023. The VAT rate, set at 7.5% […]

Access Bank Announces Acquisition of BancABC Tanzania

June 11, 2024/Access Bank Plc Access Bank PLC (“the Bank”) has announced the successful completion of its acquisition of African Banking Corporation (Tanzania) Limited (“BancABC Tanzania” or “BancABC”), which is in line with its strategic expansion goals. This milestone follows the Bank’s initial announcement in July 2023 and marks another […]