Investor Presentaiton

Expiration of Exemption Order • The 10 years exemption expired on 1st January, 2022 FEDERAL INLAND FIRS REVENUE • The implication is that income tax would now apply from 2nd January, 2022 However, the Exemption Order does not have expiration date for Bonds issued by Federal Government, which shall continue to enjoy tax exemption. • The implication is that: O income received in respect of Bonds issued by the Federal Government will continue to be exempted from tax ○ But income received in respect of Short term Federal Government securities, such as Treasury Bills, Promissory Notes etc. will be taxable

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