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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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Nigerian News

COVID-19 Guidelines Violation: PTF Blames Govs For Crowds At Edo Rallies, Kashamu’s Burial

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COVID-19 Guidelines Violation: PTF Blames Govs For Crowds At Edo Rallies, Kashamu’s Burial

The Presidential Task Force on COVID-19 has also blamed governors, traditional and religious leaders for allowing crowds to gather and break safety protocols during electioneering in Edo State and during the burial of senator Buruji Kashamu in Ogun State.

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A large crowd of mourners was in attendance on Sunday when senator Kashamu was buried.

Both the all progressives congress and the Peoples Democratic Party have also held campaign rallies in Edo State ahead of next month’s governorship election.

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The national coordinator of the PTF, Dr Sani Aliyu, has asked governors and traditional leaders to show responsibility for the residents of their states and local councils.

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Aliyu says last weekend’s development has shown the failure of leaders to ensure compliance with protocols in their respective states.

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Nigerian News

FG Issues New Directives To Civil Servants Over Resumption Of Work

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FG Issues New Directives To Civil Servants Over Resumption Of Work

The Federal Government has on Monday directed civil servants on Grade Levels 12 and 13, as well as those on important duties to resume full work.

According to the Nigeria News Agency NAN, the Head of the Civil Service of the Federation, Dr Folashade Yemi-Esan gave the directive in a circular stating that “workers affected would resume work from Monday to Friday, and be in the office from 8 am to 4 pm as usual.”

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As part of measures to curb the spread of COVID-19, only workers on Grade Level 14 and above go to offices, and work for just 3 days a week.

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Yemi-Esan urged Chief Executive Officers to ensure full compliance with the directives on the Coronavirus pandemic preventive measures, including physical distancing, regular washing or sanitising of hands and wearing of face masks.

According to her, where the number of staff resuming work was large, Permanent Secretaries and Chief Executive Officers should consider the option of duty rosters.

READ:  FG: IPPIS Will Expose Atrocities In Universities

The Nigeria Center for Disease Control (NCDC) on Tuesday reported 290 new cases of Coronavirus bringing the total number to 46,867, a total of 33,346 patients have been discharged while 950 deaths have been recorded so far.

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Presidency Targets Diezani, MDAs As Salami Panel Gets More Powers

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Presidency Targets Diezani, MDAs As Salami Panel Gets More Powers

The presidential investigative committee on the Economic and Financial Crimes Commission, EFCC, has been given judicial powers.  The panel, led by Justice Isa Ayo Salami, will now work in line with section one of the tribunals inquiry act of 2004.

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The panel has also been approved to hold public sittings and should submit a report in forty-five days.

The panel is probing the EFCC suspended acting chairman, Ibrahim Magu.  Among other cases to be taken up by the panel are the ones involving former petroleum minister, Diezani Alison-Madueke and the nearly ten billion dollar judgment against the country by process and industrial development (P and I.D.).  The panel will also take up complaints by the UK national crime agency in London.

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