Banks reject double taxation

[sparrow]

Banks yesterday made their stand known on the Central Bank's scrapping of universal banking.[/size] They said they may not comply with the directive, if the Central Bank does not address double taxation.

"It is only when this issue is addressed that we can establish a Holding Company (Holdco) as directed by CBN," the banks said.

Banks reject double taxation

[Raykirk]

I was disappointed at that time when the Central Bank did not address the double taxation. It was really a big disturbance. They should make an eligible explanation on that issue.