Help & Support
The UBA Customer Fulfillment Center is a 24/7 one-stop shop to help you with your inquiries, complaints, and requests for our products and services.
You Speak, We Listen, We Act.
It is manned by skilled and effective agents to accurately deliver high-quality service to UBA customers and prospects alike.
What You Need To Know About The New Tax Reform
The Tax Reform Acts, namely The Nigeria Tax Act (NTA), 2025, The Nigeria Tax Administration Act (NTAA), 2025, The Nigeria Revenue Service Establishment Act (NRSEA), 2025 and The Joint Revenue Board of Nigeria Establishment Act, 2025 have taken effect from 1 January 2026. The reforms are not intended to increase the overall tax burden. Rather, they are designed to support a structural reset of the tax system, promote harmonization, strengthen the social contract, and protect taxpayer. Please see below a refresher of the main changes:
Corporate:
- Corporate income tax rate remains 30% for large companies and other companies (except small companies)
- Development levy of 4% on the assessable profits of all companies except small companies and non-resident companies; It replaces Tertiary Education Tax, Information Technology Levy, NASENI Levy, and Police Trust Fund Levy.
- The threshold of companies qualifying as small companies has been increased from NGN 25 million or less to NGN 100 million or less and total fixed assets of NGN 250 million. They are exempted from company income tax and capital gains tax (CGT);
- The introduction of the minimum effective tax rate of 15%, applicable to multinational entities with a consolidated group turnover of EUR 750 million or more, or Nigerian companies with a turnover exceeding NGN 50 billion
- The introduction of controlled foreign company rules to impose tax on the undistributed profits of foreign companies controlled by Nigerian companies;
- The exemption of profits from entities operating within an export processing zone from taxation;
- The increase of the Capital Gain Tax rate for companies from 10% to 30%, retaining the 7.5% value added tax rate (VAT) for goods and services, imposing a new requirement for non-resident suppliers, including those providing digital services, to register and remit VAT.
- The VAT fiscalization rules and mandatory e-invoicing for businesses operating in Nigeria; Claiming or recovering input VAT on all purchases including services and fixed assets.
- The exemption and zero-rating select essential goods and services such as basic food, health, education, accommodation, electricity generation and transmission and transportation.
- Introduction of Economic Development Incentive which replaces Pioneer Status Incentive) for investment made in priority sectors: manufacturing, renewable energy, healthcare, and transportation for sustainable growth
- Business Restructuring: In the event of merger or acquisition of another company, new dispositions are applicable on unutilized capital allowance on the assets transferred, and unabsorbed losses of the merging entities.
Individuals:
- A person engaged in banking, insurance, stock-broking or other financial services in Nigeria shall ensure that every taxable person provides a Tax ID. All Customer (Individuals and Corporate) must update their records with their existing Tax Identification Number (TIN). If you do not have a Tax Identification Number (TIN), please visit the Joint Tax Board (JTB) website: https://taxid.jrb.gov.ng/
- The revision of Graduated Tax Rates for Personal Income Tax Purposes: Tax Relief for Low-Income Earners. Workers earning below ₦800,000 annually will be exempted from Personal Income Tax, alongside minimum wage earners. The new rates vary from 0% to 25%.
- The elimination of the consolidated relief allowance and introducing a rent relief, which is 20% of annual rent paid, subject to a maximum of NGN500,000.
- Residency is based on the 183-day rule (cumulative days of physical presence in Nigeria within a 12-month period)
- Gains from disposing of shares in a Nigerian company are exempt from capital gains tax if, within any 12 consecutive months, the total disposal proceeds are below ₦150,000,000 and the total gain does not exceed ₦10,000,000.
- Increase of Capital Gain Tax for individuals will be in line with the personal income tax rates
- Profits derived by non-residents from business, trade, or professional services are taxable in Nigeria when paid by a Nigerian resident or a Nigerian permanent establishment (PE) of the non-resident.
- Presumptive Taxation: Targets individuals with unverifiable income, with tax assessed based on prescribed regulations, to broaden the tax base.
- EMTL (now known as stamp duty) will continue to be charged on receipts or transfers of ₦10,000 or its equivalent in other currencies upwards. An exemption applies to electronic transfer or electronic receipts of money of a sum below ₦10,000 or its equivalent in other currencies, transfers for salary payment and intra-bank self-transfers
- Withholding tax of 10% applies to Interest on foreign currency domiciliary account in Nigeria,
- Withholding tax of 10% applies to Interest on deposit accounts of a foreign non-resident company, withholding tax of 10% applies to interest earned on Treasury Bills (T-Bills), Commercial Papers (CPs), Corporate Bonds, Promissory Notes, Bills of Exchange, and other similar short-term securities.
- Stamp Duty Reforms: The scope of stamp duty has been expanded to cover a wider range of financial instruments, including all forms of mortgage arrangements, refinancing loan capital, contract notes, covenants, guarantees, and letters of credit. It has also revised the list of instruments exempted from Stamp duties reducing the number of instruments of the exempted list and the mode of stamping registrable instruments has been expanded to include electronic receipts, certificates…
General Non-Compliance Penalties:
- Failure to register for tax: ₦50,000 for the first month, ₦25,000 for each subsequent month;
- Failure to file returns or filing inaccurate/incomplete returns: ₦100,000 for the first month, ₦50,000 for each subsequent month;
- Awarding contracts to unregistered persons: ₦5,000,000 per infraction;
- Failure to file returns or filing inaccurate/incomplete returns: ₦100,000 for the first month, ₦50,000 for each subsequent month;
- Failure to keep/provide records: ₦50,000 (companies), ₦10,000 (individuals).
- Denying access for tax automation: ₦1,000,000 (first day), ₦10,000 (each subsequent
- Failure to use fiscalisation system (for VAT): ₦200,000 plus 100% of tax due and interest at the CBN Monetary Policy Rate (MPR).
- Failure to deduct tax at source: an administrative penalty of 40% of the amount not deducted.
- Non-compliance with information requests: ₦100,000–₦1,000,000 (first day), ₦10,000 (each subsequent day).
- Failure to notify change of address/cessation: ₦100,000 (first month), ₦5,000
We kindly encourage you to stay informed and ensure full compliance with these updates as they may impact your financial obligations.
Branch Opening Hours
Your convenience remains our utmost priority and our promise to you is that we will always put your needs first.
Although we have revised our branch opening hours, our digital channels—Leo, Mobile app, Internet Banking, *919#, and ATMs—are available for all your banking needs. Our 24/7 Customer Fulfilment Centre is also accessible if you would prefer to speak with a Customer Experience Expert.
As your financial services partner, we remain committed to always providing you with exceptional service and will continue to innovate to serve you better.
Remember, if you have any enquiries, please call our 24/7 Customer Fulfilment Centre (CFC) on +234 02-012808822 or +234 02-012808800 or send an email to cfc@ubagroup.com.
Service Charges and Rates Guide
Information on UBA’s service charges (in line with the CBN to charges by Banks and Other Financial Institutions in Nigeria).
UBA's Policy
This privacy policy regulates how personal information can be used by United Bank for Africa (UBA) Plc and Group of companies.
Help Videos
How to load your UBA Prepaid Card
How to sign up for Internet Banking
#DIYWithUBA: Self Service Tips
How to spot the real Leo on WhatsApp
Fraud Alert: How to stay safe in this period!
Internet Banking Self Service
UBA Leo Chatbanking Explainer
UBA Internet Banking: How To Enrol
Contact
If you have an inquiry, request, complaint, or suggestion, please contact us.