12/11/2025
EMAIL I GOT From UBA THIS MORNING
Dear Customer,
We would like to inform you about a recent notice issued by the Federal Inland Revenue Service (FIRS) relating to investments in short-term securities issued by the Federal Government of Nigeria.
Short-term securities include Government Bonds, Treasury Bills, Promissory Notes, Corporate Bonds, Financial papers & Bills of Exchange and similar instruments.
Here’s what you need to know:
The law now requires that a 10% Withholding tax is deducted from the interest (or discount) you receive when your investment matures.
The withholding tax deducted will be remitted directly to the relevant tax authority on your behalf.
Tax applies to both Individual and Corporate investors
A tax credit will be available for your records
FG Bonds and OMO bills issued by the Central Bank of Nigeria (CBN) are exempt of WHT
Please note that this information will be updated in our investment offer letters and related documents to ensure all relevant details are clearly stated for your convenience.
If you have any questions or require further clarification, please do not hesitate to contact your Relationship Manager or call our 24hr Customer Fulfilment Centre on 07002255822 or send an email to [email protected].
The publication can be accessed here
Thank you for choosing UBA
