Access Bank Plc has announced that it will be providing N50 billion interest-free loans and grants to Nigerians to support communities, the youths, and micro, small and medium-sized businesses (MSMEs). This is to help cushion the effect of Covid-19 pandemic, coupled with the hijacked #EndSARS protests that led to the[Read More…]
Tag: access
Access Bank Cautious On Loans In H2
The management of Access Bank Plc observed a cautious mood on new lending over the first half of the current financial year ended June 2020. The caution appears to be warranted by rapidly rising credit loss expenses facing the bank for the second year. Bad loans are on the rise[Read More…]
Access Bank To Pay Customer 5Million Naira as Court Declears PND Order Illegal
A Lagos high court has ordered Access Bank to pay the sum of N5 million to its customers, Blaid Construction Limited and Blaid Properties, for breach of bank-customer relationship. The court also declared that a post-no-debit alert action by the bank and continued denial of the customers’ rights to access[Read More…]
Access Bank tells customers it’s time to pay accrued stamp duty charges
Access Bank Plc said it recently discovered a mistake in its operations records, whereby stamp duty charges on applicable transactions were not passed on to customers. The omissions occurred between February 1st, 2020, and April 30th, 2020. The tier-1 bank said it is deeply apologetic for this error. However, all[Read More…]
New VAT will affect small businesses
A section of the Nigerian economy which will feel the impact of the recent increase in Value Added Tax from 5% to 7.5% is Micro Small and Medium Enterprises (MSMEs). President Muhammadu Buhari recently signed the Finance Bill which among other things, increased Value-Added Tax (VAT) from 5% to 7.5%[Read More…]
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FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]