Shareholders fault CBN’s N453bn levy on banks

The Independent Shareholders Association of Nigeria has kicked towards the Central Bank of Nigeria’s imposition of 0.5 per cent levy on business banks to fund the Asset Management Corporation of Nigeria.

According to the shareholders, AMCON had now acquired N453.47bn as levies from business banks among 2020 and the primary zone of 2022.

The shareholders stated the company acquired N146.nine billion in 2020, N180.sixty seven billion in 2021, and N125.nine billion withinside the first zone of 2022 as levies from business banks, noting that those had been deductions from the imposition of 0.five according to cent prices on banks’ general belongings on and off-stability sheet imposed on banks.

According to the shareholders, those levies via way of means of AMCON had been harming the returns on investments of the economic banks withinside the country.

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