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Tuesday, December 03, 2019

FG Plans to Peg Account Access to Tax Clearance from January 2020

There is a trending news story that has been given little attention by Nigerians and has not been formally responded to by the federal government of Nigeria, creating room for speculations and rumors.

It was reported that with effect from January 2020, Nigerians will be required to present their tax clearance document to banks before they can have access to their money.

The government has in recent times been trying to generate more revenue through taxation and it may have planned to formally kick start its tax policies as from January.

In the Nigerian political climes, it is customary for President to announce strict regulatory policies in their new year address jut like former President Jonathan did by removing fuel subsidy in 2012.

There are fears that Buhari may announce the implementation of the policy and more austere measures on the 1st of January 2020.


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