Section 29 Nigeria Tax Administration Act 2025

Section 29 of the Nigeria Tax Administration Act 2025 is about Information to be delivered by bankers and others. It provides as follows:

Without prejudice to section 142 of this Act, every bank, insurance company, stock-broking firm, or any other financial institution, shall prepare, with or without demand by the relevant tax authority, quarterly returns to the relevant tax authority specifying the names and addresses of –

(a) new customers ; and

(b) existing customers in the case of –
(i) an individual, all transactions where the cumulative transactions in a month amount to N25,000,000 or more, or

(ii) a body corporate, all transactions where the cumulative transactions
in amount to N100,000,000 or more.