Paraman's Posts
Nairaland Forum › Paraman's Profile › Paraman's Posts
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Sucre6:I challenge una to block the third mainland bridge tomorrow, then you will know that not only the protesters are not smiling. You can protest, but don't disturb other people with your protest |
Let them first rescue the south east |
jmoore:Anybody that use protest to disturb me on my way to work tomorrow morning will be fully dealt with by me. People have the right to protest, but don't disturb me with your protest |
grandstar:Commercial banks are not the sole disburser |
DispatcherLagos:#5 |
The Senator representing Ondo North and a member of the Senate Committee on Customs and Excise, Olajide Ipinsagba, has called for a reduction in the tariffs on imported goods due to the rising exchange rate of the naira against major international currencies. Tariffs, also known as customs duties, are taxes imposed on goods and services that cross international borders, typically levied by the government of the importing country. Ipinsagba highlighted the need for this adjustment because of the difficulties faced by clearing agencies at terminal ports and the impact on Nigerians. During a public hearing held by the Senate Committee on the Nigeria Customs Service, the Senator voiced concerns about the hardships Nigerians are enduring, particularly in light of the fuel subsidy removal and the naira’s fluctuation. In a statement released by his media office in Abuja on Saturday, he emphasised the importance of the Nigeria Customs Service finding a middle ground to alleviate the consequences of high exchange rates on critical imported goods. Ipinsagba argued that while the Customs may not control exchange rates, it should aim to balance the tariff percentages used in calculating customs duties to mitigate the economic strain on Nigerians. He said, “We know that the NCS is not the cause of the high exchange rate. It was caused by the CBN policy. However, Nigerians are suffering and they are feeling the pain. “I think the Customs should strike a balance to cushion the effects by reviewing the tariff percentage. “If we look at the fact that we are going to pay much as a result of the exchange rate, can’t we work something around the tariff percentage that we use in calculating the amount payable as import duty?” He noted that the delay in processing Pre-Arrival Assessment Report, and alleged that the malfunctioning of Customs equipment coupled with humongous charges and penalties were creating further hardship for Nigerians The senator said all the encumbrances in the processes were often reflected in the cost of the imported products and would invariably affect the end users. He charged the Comptroller-General of the NCS, Adewale Adeniyi, and his team to help bring succour to Nigerians due to the untold hardship being experienced in the land. It will be recalled that the Senate panel, last week, said it will review upward, of the N5.079tn 2024 revenue target of the NCS from the second half of the year. The Committee argued that the decision was to save the country from further borrowings. The panel’s chairman, Senator Isah Jibrin stated this at a meeting with the top management of the revenue agency. Jibrin had said, “First of all, Nigeria is saddled with a lot of debt obligations and we need to wriggle ourselves out of that trap and one of the ways to do that is internally generated revenue. “Customs is one of the major providers of internally generated revenue and as it is today, we expect them to play one of the major roles in this drive to reduce our debt burden. “We need to pay off what we owe now and minimize additional loans we are going to take. “Customs is in a very good position, if they can block all perceived leakages, they should be able to generate a significant amount of income that will enable Nigeria to get out of debt, at least partially.” https://punchng.com/ondo-senator-seeks-lower-tariffs-on-imported-goods/?amp |
Vawulenciano:Where did you change dollar to naira at that rate? You're lying if you can't mention the location |
I agree with the CAF president |
Ebubu2: |
Umuinyioku:Yes bro, I'm an Indigene of Lagos state. You don't have the right to interfere in Lagos state affairs cause you're not an Indigene of Lagos. |
The Senegalese parliament members that extended the tenure of President Macky Sall is filled with foolish people. Macky Sall must step down at the end of his tenure. He's not the only person who has what it takes to lead Senegal |
Lovit:If you know of any school, organisation or hotel in Nigeria still charging in US dollars, kindly report to the EFCC. |
Umuinyioku:You hypocrites are extremely funny ![]() You don't want me to pokenose in Abia state affairs, but you want to pokenose into Lagos affairs... Dey play |
IrawoKross:He will bid along side his wealthy friends. |
HardBishop:wetin this one dey talk? |
Umuinyioku:I will agree with you when you and your people stop pokenosing in Lagos affairs My state is far ahead of Abia state were the people are celebrating construction of gutter in 2024 |
So far they won't pay below the market price, I won't mind |
proeast:During election there's no southern Nigeria but now, you have remember a southern Nigeria is existing. Tueh!! |
Balemall:so you're saying this road is longer than the one Fubara flag off last year? |
Wealthy Nigerians will buy it |
Okwyjesus:List out the useless functions they were holding that lead to them spending close to #1 billion in feeding themselves in just 3 months. If it happened in Lagos, you won't accept this dumb excuse. He also spent #1.5 billion in buying two cars |
Richtaiwo:He also fed himself and cronies with close to #1 billion in just 3 month |
Following the recent directive by the Central Bank of Nigeria, restricting the operations of International Money Transfer Operators to only inbound transfers, IMTOs have decided to halt dollar transfers to Nigerians. The IMTOs said they will now only pay in naira. In the recently published document addressed to IMTOs, on January 31, CBN ordered the operators not to facilitate money transfers from Nigeria to other countries. The apex bank described the new directive as a move to “liberalise the foreign exchange market and ensure transparency.” Despite a devaluation last year and a decision to float the Naira, the currency has witnessed even more volatility as the CBN attempts to clear forex backlogs worth about $7bn. The old guidelines dated 6 September 2014 did not provide a clear definition of IMTOs. The definition was implied from the permissible activities that the operators could undertake however, under the New Guidelines, IMTOs are defined as companies approved by the CBN to facilitate the transfer of funds from individuals or entities residing abroad to recipients in Nigeria and the payment of a corresponding sum to a beneficiary through a clearing network to which the IMTO belongs. However, under the revised guidelines, the IMTO services are now limited to inbound money transfer services alone. This means that IMTOs are only able to provide money transfer or remittance services from a foreign country into Nigeria. The apex bank asked IMTOs to quote exchange rates for naira payout to beneficiaries based on the prevailing market rates at the nation’s official foreign exchange market. In a bid to implement the CBN’s directive, One of the approved IMTOs, World Remit, has updated its app for Nigeria with the following instructions: WorldRemit Nigeria News! We can no longer support transfers in USD; only in Naira. “If you’re about to send money to Nigeria, this is important. The Central Bank of Nigeria has directed that it’s no longer possible for any money transfers to be paid out in USD in Nigeria. So, of course, this includes WorldRemit money transfers. “But please don’t worry. You can still enjoy the same quick, safe, and affordable World Remit service to Nigeria by sending money in Naira instead,” it stated. Another operator, Sebdwave said, “In compliance with a recent directive from the Central Bank of Nigeria, we regret to inform you that Sendwave, along with all money transfer operators, is no longer able to support USD transfers to Nigeria. We’d encourage you to switch to sending Naira transfers instead.” https://punchng.com/international-money-transfer-operators-to-pay-in-naira/?amp |
MrRichmond:I choose to keep on crying to the mods. I won't downgrade myself by exchanging insults with kids |
Rahkman:https://www.google.com/amp/s/www.africanews.com/amp/2021/06/02/shoprite-exits-nigeria-selling-operations-to-local-investors/ https://www.google.com/amp/s/businessday.ng/companies/article/no-nigeria-no-problem-shoprites-profit-jumps-as-core-market-pays/%3famp=1 https://www.pulse.ng/business/shoprite-leaves-nigeria-for-good/zg1zy1k |
CorrectionFLuid:When did I claim to have to solution the FX crises? Hope you're not high sha? |
halmat:importers now bid for the dollars though the banks |
[quote author=Streetdoctor post=128369063][/quote]Is that your mommy? Hustle hard and take care of her so she will be able to eat fish |
Biodun556:Shoprite is owned by a Nigerian |
Streetdoctor:Your mother's are wailing on the street while you're wailing on social media |
MrRichmond:I won't be exchanging insults with kids online. I'm above you guys level. |
Calitoscassius:Direct your advise to the guy I reported. |
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