Ecobank Nigeria Limited has fully repaid bondholders who validly tendered their notes ahead of the February 2026 maturity date.

The bank announced the successful completion of its tender offer, under which it prepaid approximately $245 million of its $300 million Eurobond, representing more than 80 per cent of the total issuance.

According to a statement, the transaction relates to the 7.125 per cent Senior Note Participation Notes due February 2026.

Ecobank Nigeria Limited said it launched a tender offer to eligible noteholders in respect of the outstanding $150 million on the bond on November 27, 2025, providing them with an opportunity to redeem their holdings ahead of the original maturity date of 16 February 2026.

It stated that the early and late tender participation deadlines were 11 December 2025 and 29 December 2025, respectively.

According to the bank, holders of notes validly tendered and accepted received a cash consideration of $1,000 per $1,000 in principal amount, in addition to accrued interest from the last interest payment date up to, but excluding, the final settlement date of 31 December 2025.

Following completion of the offer, the bank said the outstanding principal amount of the notes has been reduced to approximately $55.092 million.

The bank also stated that the initiative reflects Ecobank Nigeria’s proactive approach to liability management and prudent balance sheet optimisation.

The tender offer was conducted with Renaissance Capital Africa (Renaissance Securities Nigeria Limited) acting as financial adviser and dealer manager, while Sodali & Co Limited served as tender agent.

The notes were originally issued by EBN Finance Company B.V., with limited recourse to the issuer, for the sole purpose of financing the purchase of the $300 million 7.125 per cent Senior Note due 2026 issued by Ecobank Nigeria Limited.

GTBank has reminded customers of the new stamp duty rules under the Nigeria Tax Act 2025, which take effect from January 1, 2026.

According to an email received by a GT Bank customer on Tuesday, under the new regulation, the ₦50 stamp duty on electronic transfers of ₦10,000 or more will now be paid by the sender, not the recipient.

GTBank clarified that certain transactions will remain exempt from the charge.

“Please be reminded that, in line with the Nigeria Tax Act 2025, which took effect from January 1, 2026, the ₦50 stamp duty on electronic bank transfers of ₦10,000 and above is paid by the sender of the transaction and not the receiver.

“These include transfers below ₦10,000, salary payments, and transfers between a customer’s own GTBank accounts,” the message read.

The bank also noted that the stamp duty is separate from regular transfer fees and will be clearly displayed before completing any transaction, ensuring transparency for customers.

GTBank encouraged customers to review their transfers carefully and plan accordingly, as the update is part of nationwide efforts to streamline compliance with the Nigeria Tax Act 2025.

Nigeria Revenue Service (NRS) says its replacement with the defunct Federal Inland Revenue Service (FIRS) will overhaul the architecture of the country’s revenue administration.

Dr Zacch Adedeji, the executive chairman of NRS, said this in a television interview monitored from Abuja.

The News Agency of Nigeria (NAN) reports that the provision of the recently enacted tax reform laws changes the nomenclature of the country’s apex tax authority from FIRS to NRS.

According to Adedeji, NRS is not branding. It is a total institutional upgrade moving from fragmented revenue administration to a modern, digitalised, centralised and intelligence-driven system.

He said that under the new framework, multiple tax and revenue-related functions previously spread across agencies have been consolidated, with a stronger emphasis on data integration, automation, and reduced human discretion.

He dismissed allegations that the country’s newly enacted tax reform laws were altered after passage by the National Assembly.

“Only the officially gazetted Acts carry legal authority and are binding on taxpayers and administrators,” he said.

The NRS boss said that an Act of the National Assembly only became effective after Presidential assent and official gazetting, with the gazetted version constituting the authoritative text in the event of disputes.

“Revenue agencies, courts, and taxpayers are therefore guided solely by the gazetted law, not draft bills, committee reports or chamber debates.

“Neither the executive nor the revenue authority has any incentive or legal capacity to alter the law after passage,” he said.

Adedeji said that the overhaul of the NRS is also designed to support the Federal Government’s broader fiscal objectives.

According to him, Nigeria’s tax-to-GDP ratio has improved in recent years, rising to about 13.5 per cent as at October 2025.

“But it remains below the African average and well short of levels seen in peer emerging markets,” he said.

Adedeji said that the overall aim is on taxing profits and returns rather than capital or investment.

“We are not going to tax poverty; we want to tax prosperity,” he said.