The Bank Directors Association of Nigeria (BDAN) have said the views of some bank chairmen in support of the proposed windfall tax on FX are personal and do not represent the banking community.
The Federal Government recently proposed to impose 70% windfall tax on the foreign exchange earnings of banks from 2023 to 2025.
A few bank Chairmen recently supported this move by the Federal Government. This include; Tony Elumelu (UBA Chairman) and Femi Otedola (FBN Holdings Chairman)
Mustapha Chike-Obi, Chairman of Bank Directors Association of Nigeria (BDAN) in a post on his X handle (Twitter), disclosed that the association would communicate its views on the issue after its board meeting on August 12.
Chike-Obi stated thus:
“I have read the personal views of some bank chairmen on the windfall tax issue. Those views do not represent the banking community. BDAN will communicate its views after our board meeting on the 12th of August, on this and other very important issues concerning our community.”