Payments of salaries and wages as well as payments and deposits for self-to-self transactions whether inter or intra bank are exempted from the N50 stamp duty policy, the Central Bank (CBN) has said. Malam Ibrahim Mu’azu, CBN Director, Corporate Communications, made the clarification on Thursday in Abuja in a statement issued to newsmen.
NAN recalls that the CBN recently introduced the policy which was contained in the Stamp Duty Act, 2004 and the Federal Government of Nigeria’s Financial Regulation of 2009.
The policy is part measures to boost tax revenue for the federal government.
The statement said that charge was on all receipts issued by banks or financial institutions in acknowledgment of services rendered in respect of teller deposits and electronic transfers for a value of N1,000 and above.
“The implementation of the Stamp Duty at this point in time emanated from a Federal High Court order that the CBN should direct deposit money banks under its supervision to commence the collection of the duty on behalf of the federal government.
“Consequently, the money deposit banks have been directed to commence the collection of the duty.
“Banks are to collect the N50 stamp duty and remit same to the Nigerian Postal Services (NIPOST) on behalf of the customer.
“The N50 stamp duty is charged per transaction and NOT per volume. Hence, irrespective of the amount, the sum of N50 is to be charged provided such a transaction is N1,000 and above.
“There are however some exemptions and these include payments of salaries and wages, payments and deposits for self-to-self transactions whether inter or intra bank among others,’’ the statement said.

http://www.pmnewsnigeria.com/2016/01/22/n50-stamp-duty-cbn-exempts-salary-accounts-self-to-self-transactions/

By Emma Amaize

MILITANTS continued bombing of oil installations, last night, in Warri South West Local Government Area of Delta State.

The details were still sketchy this morning‎, but it was learned that they blew up the Abiteye flow station and Sagara to Chevron pipelines.

Some of are already trapped in our communities because of the bombings, the target for now may be Chevron facilities,” a worried riverside dweller told Vanguard.

More details soon.

http://www.vanguardngr.com/2016/01/breaking/

Chairman of the Social Democratic Party, SDP, Chief Olu Falae, says that he would open a can of worms on his alleged involvement in the $2.1bn arms deal largesse doled out to top Peoples’ Democratic Party’s henchmen and some cronies of the party by the former National Security Adviser, NSA, Col. Sambo Dasuki (retd). The former All Peoples Party/Alliance for Democracy Presidential candidate in the 1999 general elections, who was mentioned among those that allegedly collected part of the funds meant to procure arms to fight the insurgent group-Boko Haram, reiterated his innocence in the arms deal scandal, stressing that he was ashamed to be associated with Dasuki. “I will open up next week on this issue. I did not collect even N1 from Dasuki. In fact, I never had dealings with Dasuki. The last time I met Dasuki was in 1987, some 29 years, when he was the ADC to General Ibrahim Babangida. “The N100m was money sent from the PDP to the SDP and I transferred the money to the SDP account and subsequently instituted a committee that deliberated on the modalities for distributing the money to the states to fund campaigns for their various candidates, depending on the numbers of candidates,” he said. Falae said the then ruling party-PDP- had through its NEC Chairman, Chief Tony Anenih, struck an accord for a working relationship with the SDP in the Presidential election, and had voluntarily offered the SDP N100m to offset running costs of campaigns especially in states where it has strong followers. “For me to be mentioned with Dasuki in the arms deal scandal is wickedness. The SDP was in accord with the PDP as is normal in politics and it was not the first time that had happened. We recall the APP/AD alliance that produced me as the presidential candidate in the 1999 election and subsequently, the ANPP/DPN accord in 2007 that produced Gen. Muhammadu Buhari,” he stressed noting that the SDP/PDP alliance was nothing strange. Falae, who was visibly angry over the allegation that he benefitted from the arms deal largesse, asserted that the negotiation with the PDP was neither selfish nor personal because, he never demanded for anything personal but presented a six-point national agenda in writing which the PDP NEC after deliberation equally accepted in writing. Speaking at the inauguration of 11-member committee for the forthcoming national convention of the SDP, Falae said the SDP remains the only party with identifiable ideology, stressing that efforts made by detractors to smear it would be invalid. He charged the convention committee to come out with the modalities for the conduct of the exercise adding that members were carefully drawn from the six geo-political divide to reflect balance and fairness. Chairman of the committee, Chief Korede Duyile, promised to be fair and forthright by producing guidelines which would facilitate organisation of credible convention. Thirty-one states chairmen and other executive members, both national and states, were present at the ceremony. - See more at: http://nigerianpilot.com/reps-summon-2-firms-over-oil-swap-deals/#sthash.zVIrddZa.dpuf

http://nigerianpilot.com/reps-summon-2-firms-over-oil-swap-deals/

I dont collect money from guys to make my hair............................

Happy Bday my most pweety lady

Kisses

Expensive ring does not guarantee marriage... Gbam!

Big men laffing