kowema:
Chai, on this note, I pity those old Generation Banks especially Union bank cus their Pocket wud be emptied.....Its Govt. Funds dat has been sustaining them since

Adesiji77:
The Federal Government on Tuesday directed all its Ministries, Departments and Agencies to close their revenue accounts with Deposit Money Banks latest by February 28.

The government gave the directive while unveiling an electronic revenue collection platform aimed at checking theft, diversion of collected revenue and all sorts of corrupt practices associated with revenue collection.

READ MORE HERE http://businessnews.com.ng/2015/01/08/close-revenue-accounts-banks-fg-orders-mdas/

Bankers, which way forward?

LordReed:
Sounds like bad news for deposit banks but it just might spell good news for us consumers as banks may become more customer focused.

nduchucks:
GEJ and his administration seem to be learning from Tinubu's successful revenue collection system, implemented in Lagos and many other states. I wonder what took them 6years to do this. Barawos

googlepikin:
why you no wan get sense? why

Adminisher:


This is going to knock out a number of banks. To be honest with you I don't like the new CBN governor. He lacks foresight and is very parochial. What Nigeria should be doing is targeting diaspora transfers that can be in excess of $45billion a year through special instruments. Our human resources abroad make more foreign exchange than oil and gas makes for us locality and also many things are possible if only the man were really bright instead of bringing ideas like stealing N65 from cross ATM transactions.

Adminisher:


This is going to knock out a number of banks. To be honest with you I don't like the new CBN governor. He lacks foresight and is very parochial. What Nigeria should be doing is targeting diaspora transfers that can be in excess of $45billion a year through special instruments. Our human resources abroad make more foreign exchange than oil and gas makes for us locality and also many things are possible if only the man were really bright instead of bringing ideas like stealing N65 from cross ATM transactions.

FrankC3:


Actually, this is a Government policy that predates the CBN Governor and he MUST be commended for seeing reasons to continue pushing it.

This directive is aimed at providing single collection box for government revenues to ease account management, streamline the process, tracking, taxation and most importantly, reduce the giver and taker contact that make up corruption. Every sane Nigerian should applaud the government in this effort. It means that when you import your cars, you will make your payment for port clearance at your chosen bank probably via online transfer or POS, the fund immediately reflect in this electronic wallet linked to ALL banks and within the control of the CBN. This way, the responsible agency only have the responsibility of ensuring that funds are coming it under their names in the account. Funds can only leave the electronic wallet with the approval and knowledge or identified personal and everything is tracked electronically. This is the real anti corruption war.

And for the records, no serious country, even some unserious countries (including Afghanistan and Syria and Sudan) allows MDAs to maintain accounts with commercial banks. MDAs are the execution tools of the government and the CBN is the banker for the government. This is how things should be. It seems that people are so used to aberrations for far too long.

I agree that other policies should also be developed to facilitate the funnelling in of diaspora funds into the country, though the country is not doing badly in foreign remittance from relatives abroad.

nduchucks:
GEJ and his administration seem to be learning from Tinubu's successful revenue collection system, implemented in Lagos and many other states. I wonder what took them 6years to do this. Barawos

FrankC3:


Actually, this is a Government policy that predates the CBN Governor and he MUST be commended for seeing reasons to continue pushing it.

This directive is aimed at providing single collection box for government revenues to ease account management, streamline the process, tracking, taxation and most importantly, reduce the giver and taker contact that make up corruption. Every sane Nigerian should applaud the government in this effort. It means that when you import your cars, you will make your payment for port clearance at your chosen bank probably via online transfer or POS, the fund immediately reflect in this electronic wallet linked to ALL banks and within the control of the CBN. This way, the responsible agency only have the responsibility of ensuring that funds are coming it under their names in the account. Funds can only leave the electronic wallet with the approval and knowledge or identified personal and everything is tracked electronically. This is the real anti corruption war.

And for the records, no serious country, even some unserious countries (including Afghanistan and Syria and Sudan) allows MDAs to maintain accounts with commercial banks. MDAs are the execution tools of the government and the CBN is the banker for the government. This is how things should be. It seems that people are so used to aberrations for far too long.

I agree that other policies should also be developed to facilitate the funnelling in of diaspora funds into the country, though the country is not doing badly in foreign remittance from relatives abroad.

This directive is aimed at providing single collection box for government revenues to ease account management, streamline the process, tracking, taxation and most importantly, reduce the giver and taker contact that make up corruption

Adminisher:


This is going to knock out a number of banks. To be honest with you I don't like the new CBN governor. He lacks foresight and is very parochial. What Nigeria should be doing is targeting diaspora transfers that can be in excess of $45billion a year through special instruments. Our human resources abroad make more foreign exchange than oil and gas makes for us locality and also many things are possible if only the man were really bright instead of bringing ideas like stealing N65 from cross ATM transactions.

Adesiji77:
The Federal Government on Tuesday directed all its Ministries, Departments and Agencies to close their revenue accounts with Deposit Money Banks latest by February 28.

The government gave the directive while unveiling an electronic revenue collection platform aimed at checking theft, diversion of collected revenue and all sorts of corrupt practices associated with revenue collection.

READ MORE HERE http://businessnews.com.ng/2015/01/08/close-revenue-accounts-banks-fg-orders-mdas/

Bankers, which way forward?