₦airaland Forum

The Central Bank of Nigeria on Tuesday released four new guidelines for the banking industry, top of which was an approval for bank customers to make cheque deposits into their savings accounts.

Prior to this development, bank customers could only make cheque deposits into their current accounts.

The new guidelines were contained in a circular posted on the CBN website and signed by the Director, Banking and Payment System, Mr. Dipo Fatokun.

The circular, which was directed to banks and other financial institutions, was dated July 28, 2016.

Aside from this approval, the CBN also ordered banks and other financial institutions to remove fixed interest rate on credit cards.

The central bank directed the banks to henceforth begin to embed customers’ Bank Verification Numbers on their payment cards.

It also ordered the banks to discontinue actual address verification as a condition for account opening for customers with the BVN.

In approving cheque deposits into savings accounts, the apex bank limited the daily deposit to only N2m per customer in a day.

The CBN said the new guidelines were meant to strengthen the payment system and the banking sector.

http://globaltake.com/cheques-can-now-paid-savings-accounts-cbn/

A suspected female child kidnapper met her waterloo in Ilesha yesterday when she attempted to abduct a playing child. The enraged mob drenched her with water, beat her up, then stripped her naked until a man came to take her away.

Watch the clip below …


http://globaltake.com/video-see-suspected-female-kdnapper-osun-state/

Following social media speculations over the colour chaange of the swimming pool at Rio Olympics, spokesman Mario Andrada has come out to say “a proliferation of algae,” caused the green water.

“This was because of heat and a lack of wind,” he said, per the Independent. “We did all the chemical tests. The pool will be blue tomorrow (Wednesday).

“If it were green and yellow, we would know it was a patriotic thing,” Andrada joked, referencing Brazil’s national colours.
Folk on social media have been speculating about the cause of the colour change of the swimming pool in Brazil, many hilariously wondering if it’s urine.

Other possibilities include an overabundance of algae, while some even joked that the water had been dyed green to represent the Brazilian flag..

There are different theories floating around, however. Some wonder if the pool’s filtration system failed, or struggled to handle the pool’s large capacity.

Other science nerds speculate that the presence of copper ions caused an unbalanced pH level.

http://globaltake.com/rio-spokesman-explains-olympic-pool-turned-green/

The Petroleum Products Pricing Regulatory Agency (PPPRA) says that taxation of petroleum products like fuel, diesel, kerosene and gas may increase revenue potential for Nigeria. This is contained in a report PPRA made available to the Ministry of Finance and obtained by newsmen at the conclusion of the two-day National Revenue Retreat in Kano.

According to the Report, PPPRA says the introduction of taxes on petroleum products will supplement the revenue lost due to the fall of oil prices at the international market. It said the revenue potential from taxation of petroleum products was enormous, given the average national daily consumption of the products.

The report from PPPRA showed that the average national daily consumption of fuel was 45 million barrel, diesel nine million barrel and aviation fuel, 1.5 million barrel. The report revealed that there were three different taxes that could be charged which the PPRA’s pricing template did not currently accommodate. These are Highway Maintenance, Government Tax, Import Tax and Fuel Tax.

“Fall in government’s revenue from oil sale receipts and budget deficits in the face of compelling demand has made it imperative that the nation begins to examine the next step in the petroleum downstream business in Nigeria. “Deregulation remains the key to achieving a self-sustaining downstream sector as well as the stimulation of the economic growth and social wellbeing of the populace.

“Environmental tax, consumption tax, fuel tax, VAT, Import and Excise tax, when included in the final pricing of petroleum products provides opportunities for petroleum products to provide direct funds for other sectors,” it said. Also, PPPRA made available to the government, the option of privatisation of refineries as another way for revenue generation. It also suggested that the Downstream Logistics Facilities should also be privatised.

http://globaltake.com/ay-start-paying-tax-kerosene-petrol-diesel-gas-soon/