UBA, Zenith, GTCO face n172bn windfall tax burden
Zenith bank, guaranty trust holding company (GTCO), and united bank for Africa (UBA) have collectively incurred a windfall tax liability of n172.3 billion(one hundred and seventy-two point three million naira) , following the implementation of the amended finance act.
A windfall tax is an additional levy imposed by the government on businesses that have gained from favorable market conditions.
