Africa Re vs ITF Governing Council – Court of Appeal rules on the tax exemption status of African Reinsurance Corporation

Introduction On 27 February 2019, the Court of Appeal delivered a judgment in which it held that African Reinsurance Corporation (“Africa Re”) is not liable to make industrial training fund (“ITF”) contributions by reason of its exemption from payment of all taxes and levies in Nigeria. This decision, in effect, reverses the earlier judgment of…