Banks To Start Dollar Interest Tax In 2026

Nigerian banks will begin enforcing a new tax rule from January 1, 2026, as customers with foreign currency accounts prepare for changes to how their interest earnings are handled.

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The policy will affect individuals and businesses who earn interest from domiciliary and other foreign currency deposits held with Nigerian banks.
The change comes from the Nigeria Tax Act 2025, which introduced a 10 percent withholding tax on interest earned from foreign currency accounts.

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Banks will apply the deduction automatically once interest is credited, meaning account holders will receive their earnings after the tax has been removed.
Access Bank has already informed its customers through an official notice, stating that the deducted tax will be sent directly to the relevant tax authorities.
The move is aimed at bringing foreign currency savings in line with existing tax rules on other forms of interest income, marking a shift in how such accounts are treated in the banking system.

LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT