Connect with us


Uncategorized

CBN To Nigerians: Don’t Pay N50 Charges On PoS Transactions [VIDEO]

Published

on

The Central Bank of Nigeria has clarified the issue of payments of N50 charges by merchants who use Point of Sale machines for cashless transactions, insisting that nobody should pay extra on goods and services.

The CBN explained that the N50 stamp duty is a fee regulated by an act that directs merchants to pay all necessary taxes as regulated by government agencies.

Speaking on Channels Television’s Business Morning programme, the CBN Director of Payment System Management, Musa Jimoh, said the apex bank issued a circular and merchants have misinterpreted the directive.

Jimoh said: “Stamp duty has been misinterpreted, our circular that talks about merchants paying stamp duties according to the law do not say that the stamp duty should be paid by the consumer; that is a misrepresentation of CBN directive.

“What our directive says is that merchants should pay all necessary tax as regulated by government agencies, including stamp duty.

“What we told the merchants is that we would like the banks to ensure that the merchants comply with this directive by ensuring that every single payment that customers make to them, the merchants pay the regulated stamp duty of N50.

“What has happened is that they have actually transferred this fee blatantly and openly to the consumers; this is very wrong.

“No single individual should pay N50 in addition to the cost of the goods.

“Stamp duty is not to be paid by individuals that are consuming the goods and services of the merchants.

“The merchants who are receiving the money are the ones who are supposed to pay.”

Jimoh explained that because the stamp duty is not regulated by the CBN, there are no plans to stop stamp duties.

He said: “Stamp duty is not a CBN regulated fee.

“It is a fee regulated by an act and so we can’t change or push anything in that direction.

“To this end, the stamp duty remains and cannot be changed by the CBN.

“What we are doing is to ensure that the institutions we regulate (the banks) become more responsible to ensure that these fees are collected and given to the government.”

 

Video Credit: Channels TV

Uncategorized

Michael Abimboye Speaks On Food Items, Palliative To Ode-Omu Residents

Published

on

  • “Why we target aged, widows, and other vulnerables. Here is what this got to do with Governor Ademola Adeleke.”

 

Michael Abimboye, a Nigerian political communication consultant and journalist, has supported Osun Governor Ademola Adeleke’s palliative measures through the distribution of food items to residents of Ode-Omu communities in Ayedaade Local Government Area of the State.

Abimboye, who distributed the food items on Friday, September 6, said the Osun government has in the last few months, shown a high sense of responsibility through its commitment to alleviating the suffering of the masses.

In June, Adeleke-led government distributed rice palliative under the State Government Food Security Program in a bid to alleviate food scarcity and ensure food security. The distribution targeted a wide array of registered groups to ensure that the palliative reaches diverse segments of the population.

Among the beneficiaries are Labour Unions, the Inter-Party Advisory Council (IPAC), Civil Society Organizations, the Union of Pensioners, various Security Outfits, Ministries, Departments and Agencies (MDAs), Religious Associations, Market Unions, and Persons with Disabilities (PWDs), among other registered associations.

Before then, Adeleke rolled out free medical outreach in the state as palliative to cushion the effect of high cost of living. The Imole free medical outreach took place in Ilesa, Ile-Ife, Ede, Iwo, Ila, and Osogbo.

On his part, Abimboye, who is following the political footprint of Adeleke in Odeomu through the distribution of food items, emphasised the importance of the palliatives in mitigating the effects of food insecurity exacerbated by various socio-economic challenges.

“The governor has laid down a very good foundation, and the best we can do is to support his initiative. I am distributing palliatives in Ode-omu and its environs as part of my commitments to supporting the most vulnerable in our society,” he stated. “The economic situation in the country is terrible, and the little we can do for our people is to ensure that essential food items are accessible to provide relief and promote stability.”

“We’ve looked out for the aged, widows, and other vulnerables. Our goal is to ensure that they don’t beg to put food on their tables. Adeleke’s government has shown that it’s ready to address food insecurity, and the best I can do to support the state governor is to echo his proactive measures.

“I have come to distribute the food items myself because I want the beneficiaries to be those who really need them and would make judicious use of the palliatives,” Abimboye said.

He also urged other indigenes of Osun at home and in diaspora to continue to support the governor’s strides towards leading Osun to a promised land and eradicate poverty in the state.

Continue Reading

Uncategorized

BREAKING: DSS Takes Over SERAP Abuja Office

Published

on

The Abuja office of the Socio-Economic Rights and Accountability Project (SERAP) has been taken over by officers from the Department of State Services (DSS).

In a statement released on Monday, SERAP denounced the action as an “unlawful occupation.”

The statement revealed that the DSS officers are demanding a meeting with SERAP’s directors.

“President Tinubu must immediately direct the SSS to end the harassment, intimidation and attack on the rights of Nigerians,” SERAP urged.

This is coming barely 24 hours after the organisation urged Tinubu to leverage his leadership and authority to instruct the Nigerian National Petroleum Company Limited (NNPCL) to promptly reverse the seemingly illegal and unconstitutional hike in the pump price of premium motor spirit, commonly known as petrol, at its retail outlets.

 

More to come…

Continue Reading

Uncategorized

BREAKING: NLC Begins Closed-Door Meeting Over Ajaero’s Arrest

Published

on

The Nigeria Labour Congress (NLC) has convened a closed-door meeting following the detention of its President, Joe Ajaero, by the Nigerian government.

NLC’s Head of Public Relations, Benson Upah, confirmed the meeting on Monday.

Upah stated that Ajaero was seized by agents of the Nigerian State without a legal warrant or formal instrument.

Furthermore, Upah expressed concern that Ajaero’s whereabouts and health status remain unknown.

The NLC has condemned the detention as a “brazen act of lawlessness and intimidation” and demanded Ajaero’s immediate and unconditional release.

“The Congress has also called on the international community, human rights organizations, and democracy advocates to take note of the rising wave of authoritarianism in Nigeria.”

Ajaero was set to address the Trade Union Congress in the UK on behalf of Nigerian workers, discussing critical issues like workers’ rights, social justice, and economic fairness.

Upah said, “The NLC has put its affiliates, state councils, and civil society allies on high alert and vowed to protect workers’ rights and not be cowed by oppressive tactics.

“The Congress is currently holding a closed-door meeting to discuss the situation, and the outcome will be made public soon.”

 

More to come…

Continue Reading



 

Join Us On Facebook

Most Popular