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₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms - Business (2) - Nairaland

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Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by NaijaCrusader: 2:36pm On Dec 02, 2024
This is extortion simple! All the billions the will raise from this fraud called bank levy or any rubbish will vanish into the bags of a few people in power unfortunately
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by Neddyogu(m): 2:41pm On Dec 02, 2024
So why is Zenith Bank charging me naa? Abi zenith bank follow for Fintech?
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by blaise26abj(m): 2:48pm On Dec 02, 2024
50 Naira is small compared to the cost of using cash . Go to POS to withdraw 10k . Na 100 Naira . Go to your nearest bank ATM , transport fare or fuel will be more than 50 Naira .

I know they are just making things harder for Nigerian but again voting bad people in or allowing them get away with rigging has consequences. Apparently things one of them
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by SouthSouth1914: 2:49pm On Dec 02, 2024
Disgraceful president who brought nothing other than poverty and tax
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by EndBuhariNow(m): 2:53pm On Dec 02, 2024
Tax man 🤣
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by Ashawoman82: 2:55pm On Dec 02, 2024
jmoore:
I wanted to transfer 10,000 naira into one of my accounts, I decided to make it 9,999 naira. Timlubu don jam nwa aba.
lol
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by CodeTemplarr: 2:56pm On Dec 02, 2024
Cash has become scarce already. That means more electronic transactions and thus more levy accruing to the FG.
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by Erikiel(m): 3:00pm On Dec 02, 2024
Is it only the recipient that will be charged or both sender and recipient?
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by Princewell2012(m): 3:06pm On Dec 02, 2024
tutudesz:
10,000= 50
100,000=500
1,000,000=5000
undecided
But GTB is already doing this, so whats the difference?
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by Isupaefugbemi00(m): 3:07pm On Dec 02, 2024
seunlayi:
CBN and our government sef, dem say make we go cashless, we follow do cashless... when cashless don dey sweet us, dem say dem go dey collect ₦50 on top any ₦10k we received. If I say it is well, you supposed know I meant otherwise
If CBN missed road, Na compulsory for the man wey promised say economy go better to follow dem missed road? Now, you'll buy yam, yam seller go to you to add another ₦50.....


Anyways, if I supposed send you ₦100k on Opay, prepare to count the number of credit alert you go received... Just dey expect 11 credits of 9,500 each and the 11th go carry the final ₦5k.

what about the N10.75 deductions from the bank. Did you consider that
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by Elliotwaveforec: 3:08pm On Dec 02, 2024
So customers of fintech banks have not been paying the N50! Money I've been paying for months.

Posters above are just crying like they're being charged 50% of the credited amount.
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by Elliotwaveforec: 3:09pm On Dec 02, 2024
Erikiel:
Is it only the recipient that will be charged or both sender and recipient?
Recipient!
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by ecomjourney: 3:13pm On Dec 02, 2024
Things are a bit rough man , Tinubu no mean well.
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by danietohbadt(m): 3:13pm On Dec 02, 2024
seunlayi:
CBN and our government sef, dem say make we go cashless, we follow do cashless... when cashless don dey sweet us, dem say dem go dey collect ₦50 on top any ₦10k we received. If I say it is well, you supposed know I meant otherwise
If CBN missed road, Na compulsory for the man wey promised say economy go better to follow dem missed road? Now, you'll buy yam, yam seller go to you to add another ₦50.....


Anyways, if I supposed send you ₦100k on Opay, prepare to count the number of credit alert you go received... Just dey expect 11 credits of 9,500 each and the 11th go carry the final ₦5k.



Lol. You'll be charged N26 ten times and N10 the eleventh time
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by HeadNigga: 3:16pm On Dec 02, 2024
Elliotwaveforec:
So customers of fintech banks have not been paying the N50! Money I've been paying for months.

Posters above are just crying like they're being charged 50% of the credited amount.
oga 50 naira per alert is too much...it should be a one off thing per day. Must we support evil out of sentiments?
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by aariwa(m): 3:20pm On Dec 02, 2024
Emilokan, Awalokan
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by Pawa100: 3:23pm On Dec 02, 2024
T-PAIN-matrix once again grin
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by Elliotwaveforec: 3:23pm On Dec 02, 2024
HeadNigga:
oga 50 naira per alert is too much...it should be a one off thing per day. Must we support evil out of sentiments?
N50 on 10k!
N50 on N10m

You are not charged on N9k credit.
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by morikee: 3:24pm On Dec 02, 2024
The 50 Naira comes as a separate alert which means for a single transaction you will pay 4+4 for 2 alerts

This kill Cashless policy and financial inclusion
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by morikee: 3:24pm On Dec 02, 2024
HeadNigga:
oga 50 naira per alert is too much...it should be a one off thing per day. Must we support evil out of sentiments?
Same thing i said why not make it one off
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by philipobiz: 3:28pm On Dec 02, 2024
Larryfest:
With all the over taxing here and there, the economy is still getting shitfaced every secs of the day.
Those in government are embezzling the money even before it gets to them
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by ucbenjamin696(m): 3:32pm On Dec 02, 2024
What have we eva gain from this present administration,.... One thing me understand is the government goes to borrow money from another country, uses the money to buy cars and build houses for his loyal guys, then tax innocent & ordinary man like YOU & I to pay the money...Imagine make I go collect loan from bank,then blackmail person to pay the money by force eida he/she likes it or not
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by ufuosman(m): 3:34pm On Dec 02, 2024
T-pain na to suffer d masses more e dey after
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by PlanetZero: 3:37pm On Dec 02, 2024
shortgun:
Always enacting unpopular policies and relying on the blind support of his brainless supporters to shield him from the consequences of his actions
Exactly. You nailed it

See this suppose be the best quote to describe this administration
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by ostartruth: 3:51pm On Dec 02, 2024
This tax will favour me and my family
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by Rayjnr: 3:51pm On Dec 02, 2024
Can't we protest for something meaningful like this?
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by COMPAQ(m): 3:51pm On Dec 02, 2024
TossTos:
I received 30k deposit not long and 50 naira was debited..

Oh my ...

When I wan com recieve another payment of 17k+ that person come split am into two .. see the picture below ..


PBAT , go amaze us more than before ..
All these gymnastics just because of N50!!

N50 that cant even buy one ball of akara now
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by malaria(f): 4:00pm On Dec 02, 2024
blaise26abj:
50 Naira is small compared to the cost of using cash . Go to POS to withdraw 10k . Na 100 Naira . Go to your nearest bank ATM , transport fare or fuel will be more than 50 Naira .

I know they are just making things harder for Nigerian but again voting bad people in or allowing them get away with rigging has consequences. Apparently things one of them
ATM no dey even pay money self..fidelity bank ATM asked i withdraw less than 5k yesterday
Na laugh .I laugh commot from bank premises .
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by Lisaint(m): 4:16pm On Dec 02, 2024
Is this Emtl the same as stamp duty
That some banks has been removing
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by ChrisIntegral(m): 4:16pm On Dec 02, 2024
Introduction....


I pray Nigerians survive this 4 years of struggle.
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by NothingDoMe: 4:21pm On Dec 02, 2024
tutudesz:
10,000= 50
100,000=500
1,000,000=5000
undecided
No. Where did you get this from?
Re: ₦‎50 Electronic Levy Deductions On Transactions Start Across Fintech Platforms by NothingDoMe: 4:25pm On Dec 02, 2024
brightjohnysky:
Tinubu's new Tax Reforms Summarized

1. Any business with less than N50million turnover are exempted from tax payment.

2. over 90% of workers in public and private sector will no longer pay income tax.

3. Over 82% of what low income persons consume will be VAT free.

4. scrapping over 50 nuisance tax suffered by local businesses.

5. VAT will no longer be calculated base on where the companies have their headquarters but where their goods are consume.

6. the rich to pay more tax while the poor will stop paying taxes..

7. Consumption tax collected by states will be eliminated completely.

8. FG share of VAT to reduce from 15% to 10% as states and LGAs now get 90%.

9. Those earning less than N1.7m monthly will now pay less income tax.

10. Customs, NUPRC and other govt agencies will no longer collect tax as only one Agency will be responsible for collection of all taxes in NGR.

11. Those receiving less than N9million per anum could have their income tax cut by half.

12. The bill could lead to abolition of other multiple tax laws like the stamp duty act.

13. Over 90% of small business would no longer pay profit tax.

14. Gradual increase of VAT from 10% in 2025 to 15% in 2030... With almost every goods consume by low income earners exempted from VAT.

15. Many NGR companies pay over 60 types of different tax & levies... The bill seeks to end this factor killing NGR industries.

You may not like the messengers, but the message is a good one.
Is the message good for the rich?
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