₦airaland Forum

Emperorone:
There is no difference between this government and the Nigeria Police....Siamese twins

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

foriz4u:
my guy stop confusing ur self and accept correction. d only exemption is when u pay or transfer money into into ur own bank account by urself or u do a transfer from say, ur gtb to ur firstbank acct that's if the two acct r bearing the same name ooo...but if u send ur siblings or frnds or huz helps or coy or ur office pays in money into ur account u will b charge 5% (N50) on every 1k deposited. I hope u get it now.
instead of coming back to quote me with counter attack I advice u tnk me for educating u ok

bobby56:
Can u see your selfishness and myopic understanding? You can never grow(it is not a CURSE). Your reasoning is just too low for my liking. The mere fact that the directive said "SAVING ACCOUNTS and transfers/withdrawals by self" are EXEMPTED made you to support a broad-day light ROBBERY attempt by the FG. Because you operate a savings account, isn't it? Can u just listen to yourself? So if tomorrow you want to do business, you would maintained an 'ORDINARY SAVINGS ACCOUNT' just to avoid a 'fraudulent stamp duty tax' which you can voiced your displeasure against NOW. Then how do you grow? And if tomorrow somebody wants to pay you by cheque, you will asked him to cash it, abi(BOYS STILL DEY OUT THERE)? And what give you the assurance that Govt will not extend the Tax to cover Saving Accounts(in future) if the pilot stage go smootly? Moreover, I hoped you remembered that some savings account operates like Current? So if the Bank start deducting your money unnecessarily, DON'T COMPLAIN.

mapet:
Bros,

"People-oriented" is not a prerequisite for enforcement of extant laws.

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.

obasiken:
APC agents of change. Plate of rice is working.

erico2k2:
%is worse trust me I live in a country who heavily ta. It's citezens

Akainzo:
Let me just share this to help you, if you do more than 5 transactions from any bank in the US, you will incur charges for subsequent transactions.

In Canada, Most of the banks have the 1st 10 transactions as free, subsequent one will incur charges.

At least, this are the one I know. So clearly, it is not only in Nigeria that customers pay for bank transactions.

To prevent this charges, most people use their Credit Cards and then use one transaction from their bank account to pay it off.

obasiken:
APC agents of change. Plate of rice is working.

erico2k2:
Nop it doesn't, go and read it again, this is the assumption that is eating away the sleep of some people, read again and come back plz

TaiKuun:
search for this boy on facebook using that name, and read his posts. You'll not be so suprised that he is an Anti- APC, and a Pro-PDP. He's also the king of liars and the chairman of the Wailing wailers. He graduated from the University of Lagos, Akoka in 2013. He studied Zoology. He's paid to write all these. I repeat, he's paid to write all these. I'm saying all these just to make you believe that i know him for real.

Proudlyngwa:
I believe democracy is still a government for the people by the people.
This policy will seriously affect small businesses being coordinated by POS. just this morning I went to buy a bottle of wine at one thousand naira and I paid via POS ,the ignorant lady never knew she was loosing fifty naira. What do you think will happen when she knows, either prices of things being paid for by POS will increase or they will stop using it. This can lead to a spike in burglary as people will revert to cash transactions.
Every policy is worthy of a review

Demdem:
What's ur grouse with it? Stop being vague, be specific.

Sgwash:
answer d goddamn question and Stop flaunting arrogance !!!

sniperr007:
Hmm...using 0.05% will b cool. Each deposit will b taxed equally

mapet:
Bros,

1. This is not a new law and the issue of it being people oriented is not assessed from your narrow perspective. Overall everybody benefits as these money is a contribution to our commonwealth.
2. I think you should go and read the Stamp duty act very well, because it would seem to me you do not have a full grasp of it. These examples are lopsided

Proudlyngwa:
Who said it was a new law, for all I care the law needs reviewing.

Demdem:
What question did he ask? Are u ok?

mapet:
Then take your case to the floor of the house of Reps and Senate. The Executives mainly execute already signed laws

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

Demdem:

Who are the citizens u are even talking about? What is the percentage of Nigerians that have current account because this law isn't applicable to savings?
Seriously u are not making sense.

PrinceVictorE:
Percentage of Nigerians with current account? My dear they are countless. That you do not have one doesn't mean you can rationalize that others don't. You need to think man. You are the one not making sense.

Demdem:

U didnt answer a single question from the post u qouted. U just gave a further rant that also made no sense. Just for ur info, less than 35 % of all Nigerians have an account in the banks. Use that has a basis of ur estimate.

PrinceVictorE:
LoL You got your point, I got mine. Man, You can talk and talk, the point still remains, this so called government is making a law that isn't favorable to the citizen.

Demdem:

Ur point is baseless because as against what ur thought, majority of Nigerians don't even Av a bank account. Those that are complaining aren't the most vulnerable among us but at least averagely ok. They should sulk up their complaints and pay their due to the govt.

fotadmowmend:
I might not know how true your words are but I could induce that its the banks that charge and not government directly and it will be after a number of transactions.

PrinceVictorE:
What if they don't?
Its very luminous you have no bank account.
Because if you do, you'll understand the pain. Due you said? Even after VAT?
Man Just Chill.