The maximum rates of withholding tax are: -   10% on dividends in general and 7.5% if the beneficial owner is a company (other than a partnership) which holds directly at least 10% of the capital of the company paying the dividends; -   7.5% on interest in general; and -   7.5% on Royalty; The protocol to the treaty contains most-favoured nation clauses as a result of which the withholding taxes on dividends, interest and royalties will be lowered if Nigeria signs either agreements or conventions with another OECD Member State which contain a lower withholding tax rate on...