Post
Topic
Board Nigeria (Naija)
Topic OP
Federal government on Tax increments :0.5% on Electronic transactions
by
Freeveto
on 08/05/2024, 14:29:11 UTC
The federal government in a bid to recover money that is been owed to world bank wants to use it’s citizens to pay up this debt, money that the masses did not spend now we’re to pay for it.
The FG through the Central Bank of Nigeria has asked all commercial banks to charge about 0.5% on individual electronic transactions, claiming it’s a levy for cybersecurity. That is if you’re sending money a charge will be taken from you and the receiver will also be asked to pay for a charge. Aside all the charges that’s already too much that banks charge these days. Secondly your normal monthly statement of accounts that’s been sent to your email, you will now be charged (I think 200) for it and for every stamp duty #50, for your information and knowledge just browse the amount banks make from charges annually.
ABeg all this CHARGES NO TOO MUCH?
The enforcement of this law will take effect in two weeks.

In a country where things are hard the FG instead of easing the pain is only adding to suffering of it’s citizens. Everything is going up and our naira is falling, where do we go from here.