Lagos Office
Plot 8A, Ajumobi Olorunoje Street, Off Acme Road, By First Bank Agidingbi, Ikeja Lagos State, Nigeria.
Abuja Liaison Office
Suite 317, Lozumba Complex, Area 10, Garki, Abuja
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About Us
The firm was established in 1992 and has continued to provide qualitative value added services to its diverse, ever growing clientele in different sectors of the economy. The firm is endowed with highly competent and experienced professionals with a wide exposure to all aspects of accounting, financial management and general business administration.
About UsContact Info
- Plot 8A, Ajumobi Olorunoje Street, Off Acme Road, Ikeja, Lagos State, Nigeria.
- +234 80 9622 7865, 0916 901 9711
- info@gbc-consult.com
News & Updates
New VAT Sharing Formula in Nigeria: What It Means for Revenue Allocation
Executive Summary Nigeria has introduced a new Value Added Tax (VAT) revenue sharing formula as part of its broader tax reforms aimed at improving fiscal federalism and strengthening the finances of state governments. Under the revised structure, the Federal Government now receives 10% of VAT revenue, states receive 55%, and local governments receive 35%, replacing […]
Automated AML in Nigeria: How CBN’s New Standards Are Transforming Financial Risk Management
Nigeria’s financial system is entering a more stringent regulatory phase following the release of new compliance guidelines by the Central Bank of Nigeria (CBN) on March 10, 2026. The newly introduced Baseline Standards for Automated Anti-Money Laundering (AML) Solutions signal a clear shift toward more sophisticated, technology-enabled approach to combating financial crime. At a time […]
Nigeria Introduces 1% Presumptive Tax on Informal Businesses
Executive Summary The Federal Government of Nigeria has introduced a 1% presumptive tax regime targeting businesses in the informal sector. The initiative is designed to simplify tax compliance for small businesses while expanding the country’s tax base. Under the framework, eligible businesses will pay 1% of their annual turnover as tax, while nano and micro […]
PRESIDENT BUHARI SIGNS THE FINANCE BILL 2021
This Information Circular is issued to Clients of Gbenga Badejo & Co. (Chartered Accountants) & GBC Professional Services. On 31 December 2021, President Muhammadu Buhari, GCFR, signed the 2021 Finance Bill into law following the passage of the bill by the National Assembly. The Finance Bill amongst other things proposes various amendments to existing tax […]
Education Institutions now liable to Company Income Tax.
Editor’s Note: This article was originally written on January 25, 2022 and is being republished here for archival purposes. This Information Circular is issued to Clients of Gbenga Badejo & Co. (Chartered Accountants) & GBC Professional Services for information on relevant provisions of the Act. INTRODUCTION President Muhammadu Buhari, GCFR recently signed the 2021 Finance […]
INFORMATION CIRCULAR
Editor’s Note: This article was originally written on July 19, 2021 and is being republished here for archival purposes. Subject: NOTICE ON ONLINE FILING AND PENALTIES OF THE VALUE ADDED TAX (VAT) PROVISIONS IN THE FINANCE ACT 2019 This Information Circular is issued to Clients of Gbenga Badejo & Co. (Chartered Accountants) & GBC Professional […]
Private Sector Lending Drops to Lowest Level in 18 Months
Editor’s Note: This article was originally written on November 25, 2025 and is being republished here for archival purposes. Credit to Nigeria’s private sector has slid to an 18-month low, signaling growing stress in the banking system and weakening access to finance for businesses. According to recent data from the Central Bank of Nigeria (CBN), […]
FEDERAL INLAND REVENUE SERVICES IMPOSES 10% WITHHOLDING TAX ON SHORT-TERM INVESTMENTINTEREST: IMPLICATIONS AND MARKET OUTLOOK
Editor’s Note: This article was originally written on November 3, 2025 and is being republished here for archival purposes. The Federal Inland Revenue Service (FIRS) has announced a major change in Nigeria’s tax regime forinvestment income. Under a new directive issued in October 2025, banks, stockbrokers, and otherfinancial institutions are now required to deduct a […]
NIGERIA’S JOURNEY TOWARDS GLOBAL INTEGRATION: THE TRANSFORMATIVE ROLE OF PAYMENTS
Editor’s Note: This article was originally written on October 30, 2025 and is being republished here for archival purposes. Introduction In recent years, Nigeria has embarked on a deliberate journey towards deeper global economic integration. This push toward globalisation encompasses trade liberalisation, investment attraction, infrastructure development, and financial innovation. Central to all of these is […]
Key Changes to Capital Gains Tax (CGT) under the Nigeria Tax Act (NTA) 2025
Editor’s Note: This article was originally written on October 14, 2025 and is being republished here for archival purposes. Synopsis The Nigeria Tax Act (NTA) 2025 substantially overhauls Capital Gains Tax (CGT). The reform aligns CGT for companies with corporate tax — raising the rate from a flat 10% to 30% — while capital gains […]