Nigerian Government to Scrap Five Bank Charges in 2026 Tax Reform

The Nigerian government, through the Chairman of the Presidential Committee on Fiscal Policy Tax Reform, Oyedel Chang, announced the removal of five bank charges effective January 2026. The move is part of tax reform efforts to simplify tax administration, reduce financial burdens on citizens, and support businesses.

The charges affected include electronic money transfer levies, stamp duties on salary transfers, stamp duties on investments, and charges for transferring funds within banks. These reforms aim to enhance the ease of doing business and stimulate economic growth in Nigeria.