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FG Reviews N50 Stamp Duty Charge To Transactions Above N10,000

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Bank Customers Begin Payment Of Charges For Cash Deposits Or WithdFG Reviews N50 Stamp Duty Charge To Transactions Above N10,000rawals

The federal government has reviewed the N50 stamp duty charges on electronic payments in the country after receiving backlash from Nigerians and industry stakeholders.

A financial bill currently before the national assembly states the N50 charge would be imposed on transactions above N10,000 as against payment above N1,000 that had taken effect across the country in September.

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The bill exempts bank transfers between two accounts owned by the same person or organization.

The new bill aims to repeal a provision of the stamp duty act of 2014, which had a threshold of four naira and above for receipts chargeable with stamp duty.

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The directive was condemned by mobile money agents, retailers, merchants and bank customers who said it would discourage the cashless transaction and financial inclusion agenda of the federal government.

While some merchants had started charging customer N50, others had stopped using the terminals because customers have refused to pay the extra charges.

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Pricewaterhousecoopers analysts say the increased threshold would benefit small businesses that had started transferring the N50 duty to their customers.

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Minimum Wage: NLC Gives Governors Dec 31 Deadline

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Minimum Wage: NLC Gives Governors Dec 31 Deadline

The Nigeria Labour Congress is threatening another major strike, if state governors fail to meet the December 31 deadline for final negotiations and payment of the new minimum wage.

The union said in a communique at the end of its meeting, with state council chairmen, on the implementation of the national minimum wage, there are currently three implementation categories into which all states fell.

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The union said Kaduna, Kebbi, Lagos and Adamawa have begun paying the new minimum wage, while Jigawa had concluded negotiations but yet to make its first payment to workers.

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Other states like Borno, Abia, Kano, Bayelsa, Sokoto, Niger, Abia, Akwa Ibom, Edo, Ondo, Ebonyi, Katsina, and Zamfara states, have constituted negotiating committees to interact with labour, following consequential salary adjustments.

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Union leaders say the rest of the states have turned deaf ears.

Organized labour says all workers must enjoy the full benefit of the new national minimum wage.

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Rights Abuses: We’re Not Answerable To US, UK, EU, Says Presidency

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Rights Abuses: We’re Not Answerable To US, UK, Says Presidency

The presidency says it will not be bothered about reports of human rights abuses coming from the United States, United Kingdom and the European Union, because Nigeria is a sovereign nation.

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Special adviser to the president on media and publicity, Femi Adesina says Nigeria is not answerable to any of these countries.

Adesina says on many occasions the federal government had reversed its positions on issues where genuine public concerns were raised. But he says the ultimatum issued by 14 civil society groups, and the punch editorial, were not the mind of majority of Nigerians.  He called them mere distractions

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Nigerian Electricity Workers End Nationwide Strike

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Nigerian Electricity Workers End Nationwide Strike

General secretary of the National Union of Electricity Employees (NUEE), Joe Ajaero, has announced suspension of the union’s nationwide strike, barely twenty four hours after it began.

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Ajaero says the strike was called off after a meeting with officials of the federal government including leaders of the union, bureau of public enterprises, and minister of state for labour, Festus Keyamo.

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Disgruntled workers say the strike was necessary to settle unresolved workers` claims that have mounted after the privatization of the power sector.

The strike led to a nationwide shut down of electricity installations and has resulted in the disruption of service across the country.

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