Buhari: Prof osinbade let's increase banks charges on
Lazy youth ...

Prof : but ....

Buhari : don't but me prof osinbade this is NEXT
LEVEL

OlawaleBammie:


If it cost u 100k in a year at d flat rate of 3% of 500k, den it wil cost me 60-70k in a week, i mean a whooping 60k in a week, habaaa!! why na, maka why??

Now it would make u come out n vote so u get better value for that

mrvitalis:
This is luxury tax no one should complain

It would affect me very much but i believe in taxing

Bullshit luxury tax. Is this done in other systems? By the way, how is this tax utilised? The ₦50 deductions on deposits are yet to be accounted for....

mrvitalis:

Trust me it would cost me over 100k a year but im ready to pay yo make nigeria grow

stop deceiving yourself ...

mrvitalis:

Firstly i was a buhari fan but now keep me n him in an elevator one of us wont come out n it wont be me

But tax is a motivation ...how much tax have u paid this year

I have paid zero kobo

You don't pay value added tax? If u work for govt or private sector, ur salary pay a type of tax as well before you get paid.

By the way, I gave u a life example, those who pay such tax are yet to protest for the poor utilization of their tax because police will shoot them. If u know the number of nigerians in secret detentions for voicing out, u wil weep. Nigerians pay all sorts of charges already bro. And that runs into trillions.

Princedapace:


You don't pay value added tax? If u work for govt or private sector, ur salary pay a type of tax as well before you get paid.

By the way, I gave u a life example, those who pay such tax are yet to protest for the poor utilization of their tax because police will shoot them. If u know the number of nigerians in secret detentions for voicing out, u wil weep. Nigerians pay all sorts of charges already bro. And that runs into trillions.

Those who pay such tax are in minority....they cant talk people wont understand

mrvitalis:

Then pay

Its early monin, i dont want to say u re drunk oga. i rarely get annoyed pls dont get on my nerve.

do u knw wat u re sayin at all?? i should be payin 60k every week?? a young entrepreneur who is stil finding a way to increase his value and network?? i tink u need to slp back

OlawaleBammie:


Its early monin, i dont want to say u re drunk oga. i rarely get annoyed pls dont get on my nerve.

do u knw wat u re sayin at all?? i should be payin 60k every week?? a young entrepreneur who is stil finding a way to increase his value and network?? i tink u need to slp back

Stop looking at it as 60k look at it as 3% if its not worth it invest somewhere else or look for was to do online transaction

mrvitalis:
Now it would make u come out n vote so u get better value for that

To hell with vote, who tells u ur vote count

OlawaleBammie:

To hell with vote, who tells u ur vote count

If ur vote dont count why do greedy politicians pay for it

mrvitalis:

Im not ....if we must grow people must learn to pay tax

Funny you, What have they done with the tax workers pay?

In a working system like the UK, an increase in tax means an increase in major amenities.

In Nigeria, an increase in tax means an increase in the size of the politician's stomach.

Fix this system first, every other thing will fall in place.

badboy92:



Funny you, What have they done with the tax workers pay?

In a working system like the UK, an increase in tax means an increase in major amenities.

In Nigeria, an increase in tax means an increase in the size of the politician's stomach.

Fix this system first, every other thing will fall in place.

How much did it come out ...cant it pay the Nigeria police for 6 months ?

mrvitalis:

Stop looking at it as 60k look at it as 3% if its not worth it invest somewhere else or look for was to do online transaction

Oga good bye, ur reasoning is legendary. i mean at d oda side.

mrvitalis:

Those who pay such tax are in minority....they cant talk people wont understand

Bros, tax is tax. There different types of tax and they are all tax. Every Nigerian pay value added tax. And that runs into trillions. We don't want to talk about others. Stop justifying something that is not worth it.

Govt does not provide water for Nigerian, we provide our own water. We source for our own electricity. Our fuel is expensive, and we still fuel car, we fuel generators.

Telecom companies spend billions monthly to generate power A-side paying power companies. Same as banks and other companies.

We also pay for our own private securities these days. So the most basic things of govt are not provided to Nigerians. Yet, the same govt does not buy fuel, they use it for free, the same govt does not pay security, they use the ones we collectively maintain, they don't pay for water, it is given freely, they don't pay for feeding, they don't pay for health-care. More tax will never make the govt responsible.

It will not stop govt from shooting protesters. In developed climes, five persons can protest and no one will shoot them. U don't need heaven and earth to protest. U would be killed in Nigeria if u protest. Taxation does not make people protest. The govt needs to create the environment for such.

mrvitalis:

How much did it come out ...can't it pay the Nigeria police for 6 months?

I don't understand your question,
Nigeria is a super-rich nation, more than what you can imagine. Our major revenue is Oil and Gas.

Dubai has the same Oil and Gas but have used their revenue in making Dubai paradise on earth.

We have used ours in sending our politicians children abroad and paying for their fat salaries.
most of the roads are bad,
Electricity worse,
Health for where?
Education dead.

What have we done with what we have to justify an increase, thats what really matters?

When the system works and it is transparent, trust me people will pay tax.

What will be charged on two Bullion Vans withdrawal?

may u be taxed to your dying breath

mrvitalis:
This is luxury tax no one should complain

It would affect me very much but i believe in taxing

KOLO BANK WILL BE RAMPANT. THERE IS NO ACCESS CHARGE OR ATM CHARGES. IT IS THE BEST WAY TO BE FINANCIALLY DISCIPLINE

This is in addition to the 5% charge on online purchases. The shock of the 7.2% VAT increase is yet to even sink in. Which kind mumu next level govt is this for goodness sake?

Cashless transaction, they will tax heavily. Cash transaction they still tax. They want to completely flatten the masses

They should just bring bucket and drain our blood

stanech:
Nigerians To Start Paying For Bank Deposits In 2020
The charges will attract three per cent processing fees for withdrawals and two per cent processing fees for lodgments of amounts above N500,000 for individual accounts.

Starting from September 18, 2019, Nigerians operating bank accounts will begin to pay charges for deposits and withdrawals.

Making the announcement on Tuesday, the Central Bank of Nigeria said that the nationwide implementation of the cashless policy will begin by March 2020.

The apex bank said that implementation of the policy would signal the imposition of charges on deposits in addition to already existing charges on withdrawals.

According to the circular, the charges will attract three per cent processing fees for withdrawals and two per cent processing fees for lodgments of amounts above N500,000 for individual accounts.

For corporate accounts, the apex bank in the circular said that DMBs would charge five per cent processing fee for withdrawals and three per cent for lodgments of amounts above N3m.

The statement, however, disclosed that the charge on deposits would apply in Lagos, Ogun, Kano, Abia, Anambra, and Rivers states as well as the Federal Capital Territory.

http://saharareporters.com/2019/09/17/nigerians-start-paying-bank-deposits-2020

Baba abeg help me ask them oooo.

Tinubu will send bullion vans to fetch cash for sharing during election, and will not pay a dime. These rules are meant for the poor.

Mydazz:
What will be charged on two Bullion Vans withdrawal?

If true then it should be across board nationwide.

senators and politicians want to enrich themselves with hard earn Nigerians money....

Beverlyjean:


Stop displaying ignorance... This has always been there for over 7 yrs.... It's only for cash withdrawal and deposit... It's to encourage a cashless society

Where is network to operate a cashless economy?

Pacesetter123:
Where is network to operate a cashless economy?

Ignorance again...did they tell u that transactions can only occur thru personal phones and computers... U can as well go to the bank to do cashless transactions

TroubleMaker47:

We need to go cashless yet it takes Nigerian banks 4wks to reverse a POS failed transaction!

I tire ..oo my brother.I wonder why we r leaving de main ailment to treat de symptoms in dis country.

Why imitate degenerate oyinbos?

Why collect fees on money that's already getting so much interest?

mrvitalis:
This is luxury tax no one should complain

It would affect me very much but i believe in taxing

the problem is not taxing, but using the proceed for the benefit of the masses.

Femich18:
Tax on deposit? Wow!
This is really Pathetic.



Aim at encouraging cashless transactions? This Govt is not getting their policy right. same Government planning to impose extra VAT on online purchases. You discourage them in one and encourage it another policy. Who does that?
That is confusion to me

I believe this govt contradicts whatever new things it begins

Akorede02:
Baba God let there be no Nigeria again next life. We will soon be paying for breathing. Useless government
.

The sad thing is the money self dem no go feet account for am... APC regime na so so thievery lol

Which kind of people head the so-called CBN!!
You want to initiate tax for deposit and withdrawal, yet you added VAT for online transaction!!

mrvitalis:

Im not ....if we must grow people must learn to pay tax

Believe me if people have been seeing what their tax money was used for, they won't complain but you keep paying new form of tax and you can't even see what it is used for.

nams77:

Why are people so blind
You think the money will go to the banks? It goes to the government. Why will it be a narional policy bankwide and while will cbn governor be making the statement?
This is a fiat!
The have already levied charges on online transactions a while ago, so what do you mean by encouraging cashless transactions.
You tax cash deposit/withdrawals and also tax online transactions, what does that speak?
The government is looking for how to raise funds but it shouldn't be on hapless nigerians. The Nigerian government is not creative and can't think outside the box on how to raise cash

1. I am not blind. I am very knowledgeable about the financial industry. This services is not new! It has been existing for some years now. Banks have been holding the money and adding it to their profit! CBN is making statement about it because CBN supervises banks in the country
2. Online transaction were never exempted from VAT! Just that govt did not collect it. Now they want to collect it. What is wrong in that? VAT law already specified exempted items and services. It does not matter how you pay for the items and services that are not VAT exempt, you still need to pay tax!
3. Should we go to Benin and Cameroon to tax their citizens to raise revenue then? We all want good things but we want it for free! How is that possible? Lol!!!