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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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Ekiti Sets Up Five-Man Committee Over NULGE Crisis

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Ekiti Sets Up Five-Man Committee Over NULGE Crisis

A five-man committee has been set up by Ekiti State governor Kayode Fayemi to look into the ongoing crisis among members and leadership of National Union of Local Government Employees.

The committee is to advise the government on how to resolve the succession crisis rocking the union.  It is headed by chairman, local government service commission, chief Samuel Abejide,

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Fayemi made the disclosure when he met with the chairmen and directors of administration and finance of the 16 local government areas in the state.

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The governor says the committee is expected to submit its report within a week.  It is to undertaking a holistic approach to harmonize all the stakeholders within NULGE and its environs.  It would also pay specific attention to remote causes of the crisis and advise government on how best to tackle them.

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Fayemi says he would not allow labor matters to degenerate and discredit his government.

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Governor Sanwo-Olu Reacts To Lagos Pipeline Fire

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Governor Sanwo-Olu Reacts To Lagos Pipeline Fire

Lagos state governor, Babajide Sanwo-Olu, has sent a strong warning to pipeline vandals who cause untold hardship to Lagosians while breaking the law.

The governor was reacting to Sunday’s fire outbreak at Abule-Egba area of Lagos.

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The state emergency management agency, LASEMA, said the fire claimed three lives.  Several were injured, many houses were razed.

The agency says the fire started after vandals breached a pipeline to steal petrol in the area.

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The governor commended LASEMA officials for their swift response in putting out the fire.

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PDP Members Protest At Supreme Court Over Imo Election Verdict

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PDP Members Protest At Supreme Court Over Imo Election Verdict

Leaders of the Peoples Democratic Party including the party’s national chairman, Uche Secondus, former governor Peter Obi, senate minority leader, Enyinnaya Abaribe, Achike Udenwa, former minister of aviation, Osita Chidoka, Dino Melaye with staunch supporters, staged a protest on abuja streets over the recent verdict of the supreme court that sacked one of its governors, Emeka Ihedioha.

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The party’s national chairman, Uche Secondus, says the aim of the protest themed #SaveOurJudiciary was to impress on Nigerians that injustice has been done to the party.

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The supreme court nullified last Tuesday the electoral victory of Emeka Ihedioha, the PDP Imo State 2019 governorship candidate.

The protesters walked to the national assembly and met with the leadership of the red chamber.

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