The Chairman of Fidelity Bank Nigeria, Mustafa Chike-Obi, has said that personal opinions expressed by some bank chairmen on the controversial windfall tax that Nigeria’s federal government has imposed on banks do not represent the collective stance of the banking community.
This was disclosed by Chike-Obi in a tweet from his official X handle on Friday.
He said that the “banking community” will shortly make public its official stance on matter.
Chike-Obi said, “I have read the personal views of some bank chairmen on the windfall tax issue. Those views do not represent the banking community.”
He noted that the windfall tax issue and other urgent matters affecting the banking industry would be the subject of a board meeting that the Banking and Digital Finance Association of Nigeria (BDAN) would call on August 12.
He assured, “BDAN will communicate its views after our board meeting on the 12th, on this and other very important issues concerning our community.”
Recall that the Chairman of UBA, Tony Elumelu and the Chairman of FBN Holdings, Femi Otedola had recently in separate statements expressed support for the federal government’s windfall tax imposed on banks.
Business mogul Otedola, had supported the windfall tax’s introduction, highlighting its contribution to the creation of a more equitable business environment.
“Taxing these extraordinary gains ensures a fairer distribution of wealth, allowing those who benefit disproportionately to contribute more significantly to the broader societal good.
“The recent announcement of a windfall tax on the extraordinary profits earned by Nigerian banks is a significant first step towards achieving these goals…This extraordinary gain should be redistributed to fund critical infrastructure development, education, healthcare access, and public welfare initiatives,” he said.
Elumelu also approved the initiative, stating it aims at alleviating poverty.
He said there was a need to “democratise prosperity for Nigerians, ensuring access to a good life for all.”
This followed a meeting that government held on Wednesday with banking sector representatives, led by Elumelu and GCEO of FCMB, Ladi Balogun, to discuss the windfall tax.
Elumelu reaffirmed, “We support the government’s intention to alleviate poverty with the windfall tax, but we also believe that no one segment should suffer, and the government should continue to create jobs while businesses thrive.”
“Mutual prosperity is key – prosperity for business owners, ordinary Nigerians, and foreign and local investors. Everyone should be happy. I’m pleased with the meeting’s outcome, and I hope for a better and happier society going forward,” he added.
