Nexia – Nexia Agbo & Abel

The Code of Corporate Governance for Not-for-Profit Organizations in Nigeria – Challenges, Opportunities, and Implementation Imperatives

The Corporate Governance Code for Not-for-Profit Organizations (NPOs) in Nigeria aims to boost transparency and accountability through twelve key principles. However, implementing it faces challenges like resistance to change and resource constraints. Overcoming these hurdles requires tailored strategies, government support, and comprehensive training. Successful implementation

Navigating Change: Central Bank of Nigeria’s Revised Minimum Capital Requirements for Banks

The Central Bank of Nigeria has raised minimum capital requirements for banks to address economic challenges, effective April 1, 2024. National commercial banks must now hold at least N200 billion, and international banks N500 billion. Banks can comply through capital infusion or mergers, with existing

Navigating the New Expatriate Employment Levy in Nigeria: Implications and Concerns

Introduction The Federal Government of Nigeria, under the leadership of President Bola Tinubu, has recently introduced the Expatriate Employment Levy (EEL) through the Nigerian Immigration Service. Launched on February 27, 2024, and effective as of March 15, 2024, the EEL imposes a mandatory levy on

Summary of “The Ideal Team Player” by Patrick Lencioni

Summary of “Atomic Habits” by James Clear

Happy Birthday Friday Inneh!

Happy birthday to our partner, Friday Inneh. All of us at Nexia Agbo Abel & Co. wish him a long and fulfilling life. Happy Birthday Mr. Inneh.

Happy Birthday Alexander K. Peddler!

Today, we wish our Managing Partner, Alexander K. Peddler, a happy birthday. May your success know no limits, sir. Happy Birthday from all of us at Nexia Agbo Abel & Co.

Appointment of Chairman and Managing Partner

Sequel to the retirement of Mr David Abiodun Olaleye as Chairman, in line with the firm’s policy, the partners of Nexia Agbo Abel & Co. are pleased to announce the appointment of Mr Abel Onyeke as the new Chairman. Mr Onyeke is the founding partner

A Review of TAT’s Ruling on the Applicability of Withholding Tax on management Fees Paid to a Non-resident Company

On 6 December 2021, the Tax Appeal Tribunal (TAT) sitting in Lagos delivered a judgment on the applicability of Withholding Tax on management fees paid to a non-resident company. The judgment suggests that wording an item as reimbursement in a contract may not be adequate

Previously Exempted Investment Income may now be Liable to Tax Effective from 2 January 2022

Recall that on 2 January 2012, the federal government issued the Companies Income Tax (Exemption of Bonds and Short-Term Government Securities) Order, 2011. The Order granted corporate income tax waiver on all bonds and debt instruments issued by all tiers of government and corporate entities

Author: Nexia