₦airaland Forum

Demdem:
http://www.vanguardngr.com/2016/01/fg-imposes-n50-stamp-duty-on-bank-customers/
Read up. Come back to thank me later.

Tokt:

I knew I struck a nerve when I called ur wretched lineage out. Again I reinstate and bold to say that no one in ur household has ever acheived as much as I have.

Demdem:

U tell us and stop patronising me. Or u don't even know eh

foriz4u:
I don't get u, how do u mean a non savings acct? isn't this supposed law applicable to savings acct, current and every other acct deposit? is it jus tailored to a single acct? oga educate me, u seems to. a schooler. is N50 not 5% of 1k?? oh u have not given it a close look b4 sha?? 5% on every 1000 of money u send to ur brother/sister, children cousines, frnds in school, and on evry mny that enters into ur acct evry single day. not pet month ooo guy, per deposite above 1k now think abt it, b4 the end of the month hasn't that gone drastically above the value added tax(VAT) and u r rejoicing, clapping ur hands in support. don't worry when u start seeing how our politician start buying private jets, buying properties in Dubai, Paris, Canada n our new dead n povertarised NIPOST b d richest organisation in west Africa with little or no employment n poor services to nation pls don't ask how come o n don't complain.

foriz4u:
thank my ass! come suck my ass for that.

linusbnn:
Wetin u dey sell?

foriz4u:
I don't get u, how do u mean a non savings acct? isn't this supposed law applicable to savings acct, current and every other acct deposit? is it jus tailored to a single acct? oga educate me, u seems to. a schooler. is N50 not 5% of 1k?? oh u have not given it a close look b4 sha?? 5% on every 1000 of money u send to ur brother/sister, children cousines, frnds in school, and on evry mny that enters into ur acct evry single day. not pet month ooo guy, per deposite above 1k now think abt it, b4 the end of the month hasn't that gone drastically above the value added tax(VAT) and u r rejoicing, clapping ur hands in support. don't worry when u start seeing how our politician start buying private jets, buying properties in Dubai, Paris, Canada n our new dead n povertarised NIPOST b d richest organisation in west Africa with little or no employment n poor services to nation pls don't ask how come o n don't complain.

easrael:
Early this morning, I read a directive by the Central Bank of Nigeria to all Banks in the country where it ordered all banks in Nigeria to start charging N50 on all transactions that are above N1,000 from ALL Nigerians.

Now, as many of us may now know this until the banks start charging it and they give you tons of excuses for it.
Here are three facts why THIS charge is a FRAUD in totality!

1. This charge is to be under a particular stamp duty which is illegal in banking transactions! At least, I know stamp duties are charged under postal orders and not on some bank transactions.

2. The account number the money is to be remitted into (CBN NIPOST Stamp Duty Collection Account No 3000047517) is not the popular TSA account number which was created as the ONLY Government transaction’s correspondence! What this means is that the Federal Government is as corrupt as anything you can imagine, using this scheme to deprive the middle class off their hard earned money!

3. This scheme of generating funds was not listed as one of the means to be used to generate funds this year in the 2016 budget! I have read the 1800 page document page to page in details that I can almost tell where a particular item is placed. You all can take the pain to read it too. This government never listed this means as a non-oil revenue making means.

What this scheme is scheduled to do is to suffer the middle class and the lower class in Nigeria to feed some greedy, corrupt and selfish upper class. Why hasn’t the FG set up a tax on luxury items which the upper class in our strata is entitled to?

There are so many questions begging for answers that, some of which many among us will avoid answering them. I’ll leave you with this: Do not ever think you’ll benefit from the N5,000 to be given to the unemployed people because it is strictly a Northern affair! That is where we have the poorest of the poor!


Salem

Israel Oladipupo Ogunseye tweets via @LadiSpeaks

erico2k2:
Oga make I oil your thinking small. Ask ur relatives to open savings accounts only.

egbonnla:
Please read the CBN circular very well. It did not state explicitly that savings accounts receiving deposits will not be affected. CBN will not be foolish to exempt savings accounts as there are now savings accounts that have all the features of current accounts except that the cheques on such accounts will not go to clearing

erico2k2:
If you transfer money from Nigeria directly unto someone's account in the USA via wire they charge the receiver, did you k now that?

sniperr007:
U don't get it. Dats btw 2 diff countries wit diff currencies. Dis is within Nigeria. Dey use same platform NIMBS. So y will u charge me for receiving wen u r promoting cashless economy.

If u must charge,y not do it based on percentage & not a fixed amount dat hurts d low income pple.

egbonnla:
Please read the CBN circular very well. It did not state explicitly that savings accounts receiving deposits will not be affected. CBN will not be foolish to exempt savings accounts as there are now savings accounts that have all the features of current accounts except that the cheques on such accounts will not go to clearing

jumboo:
http://www.cenbank.org/Out/2016/CCD/SCAN0001.pdf

You can read d circular. It does not applying savings account. Neither is it 50 naira for every 1000. Its 50 naira for every deposit transaction above 1000 to a non savings account

easrael:
Early this morning, I read a directive by the Central Bank of Nigeria to all Banks in the country where it ordered all banks in Nigeria to start charging N50 on all transactions that are above N1,000 from ALL Nigerians.

Now, as many of us may now know this until the banks start charging it and they give you tons of excuses for it.
Here are three facts why THIS charge is a FRAUD in totality!

1. This charge is to be under a particular stamp duty which is illegal in banking transactions! At least, I know stamp duties are charged under postal orders and not on some bank transactions.

2. The account number the money is to be remitted into (CBN NIPOST Stamp Duty Collection Account No 3000047517) is not the popular TSA account number which was created as the ONLY Government transaction’s correspondence! What this means is that the Federal Government is as corrupt as anything you can imagine, using this scheme to deprive the middle class off their hard earned money!

3. This scheme of generating funds was not listed as one of the means to be used to generate funds this year in the 2016 budget! I have read the 1800 page document page to page in details that I can almost tell where a particular item is placed. You all can take the pain to read it too. This government never listed this means as a non-oil revenue making means.

What this scheme is scheduled to do is to suffer the middle class and the lower class in Nigeria to feed some greedy, corrupt and selfish upper class. Why hasn’t the FG set up a tax on luxury items which the upper class in our strata is entitled to?

There are so many questions begging for answers that, some of which many among us will avoid answering them. I’ll leave you with this: Do not ever think you’ll benefit from the N5,000 to be given to the unemployed people because it is strictly a Northern affair! That is where we have the poorest of the poor!


Salem

Israel Oladipupo Ogunseye tweets via @LadiSpeaks

erico2k2:
Cos you fail to comprehend here a snap hope this is clearer

erico2k2:
I agreebut I recon some Biz owners might have a provition to buy seals if they can afford it.Anyway I won't be affected as my Account is saving and I won't open a current account in Nigeria not in 50 years we are not ripe yet.

erico2k2:
Cos you fail to comprehend here a snap hope this is clearer

Demdem:

Not unexpected from an ingrate just being tutored to cure his ignorance. Shame.

jumboo:
http://www.cenbank.org/Out/2016/CCD/SCAN0001.pdf

You can read d circular. It does not applying savings account. Neither is it 50 naira for every 1000. Its 50 naira for every deposit transaction above 1000 to a non savings account

egbonnla:
Read what you attached. It says any form of withdrawal or transfers from savings account is exempted. It did not say deposit or transfer to savings account is exempted. That is why I said it is not explicit unless CBN clarify further

foriz4u:
lol... I think u confusing urself or don't rlly understand the context of that circular, u should rather go back n read it. the only exemption self to self deposite weather inter or intra transaction, look here...
"payments of deposits or transfer by self to self whether inter or intra bank; and any form of withdrawals/transfers from saving accounts;
It should be noted that these charges are only payable by receiving accounts".
I hope u get it now

foriz4u:
a big Shane to the one who does not understand simple English. sorry is ur case. if u like counter quote me I won't rply. silent they say is best.

Rolings:
Did you just ask what have been done with Vat? Whenever the federation accounts committee meet they share all monies that have accrued to government in a given month including vat. Don't just be showing your ignorance in an effort to paint the government bad. I see you and the Op are birds of the same feather .instead of seeking clarifications on things you don't know you go about wailling , don't blame you sha your party is not interested in Nigeria but their pocket.

Tokt:
[s][/s]

Rubbish. Who is ur own dilector?
Again, if u are aggrived, go to court and lament there.
What the govt is doing is implementing existing laws and not creating new ones.

Demdem:

Oooo, I see, u can't think yet u criticised someone that can.

linusbnn:
The only thing I hate in life is unfairness in anything. Speak the truth

RELEASEUS:
Can you tell me or tell us as we don't know where that law of stamp duty in bank transaction is? For me it is wrong and if for whatever reason you are defending this without thinking of the poor people it will seriously affect then you are doing a deservice even to yourself and country. This is not about partisanship now it's our collective survival. Please don't support wrong things.

Tokt:
Arrant Nonsense. We are looking for immediate ways to depend less on crude oil money and run the economy u are here talking rubbish.
If u aren't happy, go to court and Sue the govt.
Besides, what the govt simply did is an implementation of an existing law that was never enforced. It's not a new law.

DropShot:
OP, you goofed big time. The Stamp Act has been in existence since 2004 but not enforced.

FG's revenue has seriously declined and the govt is right to enforce all "enforceables" at this critical time.

Also, the CBN account for the collection is the "collector" for such charges from where it will go into TSA.

Again, the charge is for receiving account from a 3rd party. Not even from your account in one bank to your other account in another bank.

Patriotic citizens will not attempt to fault this step.

Proudlyngwa:
If you had read my post well,you wouldn't have missed the word REVIEW,
This is a law from last administration: yes, about to be implemented by this administration, It should have been reviewed or scrapped, because it is not people oriented and for now makes no sense.
FYI am pro this admin.

mapet:
@DropShot,

You know what get NL moving? One idiot comes up with a brain fart, and other nincompoops follow. None of the bunch of ignorant retards had bothered to go look into the details of the Stamp Act. Even on Radio, there is sensitization, telling that it is not a new law, but just an enforcement of a law that had been in existence but our oil consumption craze made us overlook.