NewStats: 3,263,746 , 8,181,238 topics. Date: Saturday, 07 June 2025 at 05:05 PM 5z5472

OP, you goofed big time. The Stamp Act has been in existence since 2004 but not enforced.

FG's revenue has seriously declined and the govt is right to enforce all "enforceables" at this critical time.

Also, the CBN for the collection is the "collector" for such charges from where it will go into TSA.

Again, the charge is for receiving from a 3rd party. Not even from your in one bank to your other in another bank.

Patriotic citizens will not attempt to fault this step.

Super1Star:


It will still go into the TSA.

The various banks will remit from the dedicated s they opened for this purpose, directly into TSA based on remittance periods stated by CBN.

Ok. So i will be made to pay #50 for every 1k i deposit in the bank despite paying my income tax and vat on items. Hmmmm...this policy should have been expunged from wherever it contained, its anti-people.

Tokt:


I knew I struck a nerve when I called ur wretched lineage out. Again I reinstate and bold to say that no one in ur household has ever acheived as much as I have.

I have now confirmed that you are a kid. Exchanging words with you is a waste of time. Go and dance naked with a bell tied around your waist in the market square like lai mohammmed yur mentor.

frankyychiji:
Ok I will. But why is the revenue accruing not funneled into the TSA? Just curious.

revenue will be paid into nipost tsa , its stamp sales, the only thing be say nipost go collect money without selling stamps, lol

Nairaland here is another trash for the front page.

This change go kill person ooo

DropShot:
OP, you goofed big time. The Stamp Act has been in existence since 2004 but not enforced.
FG's revenue has seriously declined and the govt is right to enforce all "enforceables" at this critical time.
Also, the CBN for the collection is the "collector" for such charges from where it will go into TSA.
Again, the charge is for receiving from a 3rd party. Not even from your in one bank to your other in another bank.
Patriotic citizens will not attempt to fault this step.

SHAARAAP.. OW MUCH DID THEY PAY YOU TO CONVINCE US.. SO GOVT DOES NOT NEED TO CONSULT US BEFORE THEY START TO SLASH OUR MONEY ABI..AM SURE THIS IS JUST THE BEGINNING.. AM CERTAIN THEY HAVE MORE SINISTER PLANS AHEAD..

THE ANNOYING THING IS THE WAY THEY GO ABOUT THEIR IMPLEMENTATIONS.. NO MEDIA AWARENESS NO NATIONAL ASSEMBLY APPROVALS NOTHING.. IS THIS MILITARY REGIME .. DONT WE DESERVE A SAY ON HOW WE ARE GOVERNED ... BUHARI IS A PRESIDENT NOT A RULER.. THIS IS A DEMOCRACY..

THEY SHOULD START BY SLASHING THEIR ALLOWANCES AND BENEFITS....OOK SO THIS IS HOW THEY WANT TO FUND THE 5000 STIPEND PAYMENT ... HHEEDIOTSS

Proudlyngwa:
Did this decision go through our useless federal house of Assembly, either for confirmation or review.
If this is allowed to stand, It will kill the cashless society we all crave for.
Nigeria is not due for this policy.Imagine receiving payment for a goods of 1,200 naira via POS after other bogus bank charges plus this rubbish.

WELL SAID .. NOT TO EVEN THINK THAT THE PROFIT ON THAT TRANSACTION IS EVEN 50 NAIRA... SO WHO BEARS THE END BURDEN .. EVERTHING ON SHELF WILL INCREASE BY FIFTY BOX.. OR EVEN MORE... TRUST SHOP RITE THEY'L ADJUST IMMEDIATE WITH PRICES.

SO YOU TAKE FROM MY WHEN AM PAID .. AND THEN I PAY AGAIN WHEN MAKING A PURCHASE DUE TO INCREASED PRICES...

AND THEY SAID JONA WAS CLUELESS .. THIS GOVT IS THE REAL DEFINITION OF CLUELESS .. YES ADD CONFUSED TO THE EQUATION TOO

gcof:
won't it be better if you give facts to your argument instead of cursing someone's lineage

Wont it be better for u to investigate and find out who first brought his wretched family to a NL discussion instead of poking ur nose to little or nothing u know nothing about?

Proudlyngwa:
Did this decision go through our useless federal house of Assembly, either for confirmation or review.
If this is allowed to stand, It will kill the cashless society we all crave for.
Nigeria is not due for this policy.Imagine receiving payment for a goods of 1,200 naira via POS after other bogus bank charges plus this rubbish.

Sometimes it's ok to read well

This is not a new law it has always been there we just didn't implement it!

Now it's going to be implemented,

frankyychiji:
Ok. So i will be made to pay #50 for every 1k i deposit in the bank despite paying my income tax and vat on items. Hmmmm...this policy should have been expunged from wherever it contained, its anti-people.

U are wrong. Please go back and read it up. Ur ignorance is glaring.

banki:


Sometimes it's ok to read well

This is not a new law it has always been there we just didn't implement it!

Now it's going to be implemented,

If you had read my post well,you wouldn't have missed the word REVIEW,
This is a law from last istration: yes, about to be implemented by this istration, It should have been reviewed or scrapped, because it is not people oriented and for now makes no sense.
FYI am pro this .

frankyychiji:
Ok. So i will be made to pay #50 for every 1k i deposit in the bank despite paying my income tax and vat on items. Hmmmm...this policy should have been expunged from wherever it contained, its anti-people.

It is not every 1k but every deposit above 1k.

If you deposit 1million you will be charged 50naira. If you deposit 1k 10times, you will charged 50naira 10times too.

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.

some people would not see nor think. Is there anywhere in the world that government charges bank customers for using banks ? I am of the opinion that banks shoulddd be charged and not customers

Yorubago:


Some people will defend anything this government does even though its arrant nonsense

pls, dnt be daft: did u even understand what implementation is?

obasiken:


From yur post i can deduce you have not left your fathers house so u dont understand what increase in taxes mean. A bag of rice is now 13500. Very soon you will be paying taxes on vegetables in yur parents farm.

and so fucking wot? From it posts, u probably haven't travelled to any organized country. You must pay taxes. What's the biggie?

byteem:


SHAARAAP.. OW MUCH DID THEY PAY YOU TO CONVINCE US.. SO GOVT DOES NOT NEED TO CONSULT US BEFORE THEY START TO SLASH OUR MONEY ABI..AM SURE THIS IS JUST THE BEGINNING.. AM CERTAIN THEY HAVE MORE SINISTER PLANS AHEAD..

THE ANNOYING THING IS THE WAY THEY GO ABOUT THEIR IMPLEMENTATIONS.. NO MEDIA AWARENESS NO NATIONAL ASSEMBLY APPROVALS NOTHING.. IS THIS MILITARY REGIME .. DONT WE DESERVE A SAY ON HOW WE ARE GOVERNED ... BUHARI IS A PRESIDENT NOT A RULER.. THIS IS A DEMOCRACY..

THEY SHOULD START BY SLASHING THEIR ALLOWANCES AND BENEFITS....OOK SO THIS IS HOW THEY WANT TO FUND THE 5000 STIPEND PAYMENT ... HHEEDIOTSS

Lalasticlala Mynd44 Seun, is this not a violation of rule 2?

Tokt:


Wont it be better for u to investigate and find out who first brought his wretched family to a NL discussion instead of poking ur nose to little or nothing u know nothing about?

ok thank you sir

MR I have read the 1800 pages , reading is different from understanding , just for you to know that Acts has been in exaistence before MKO Abiola contested and won the presidency what has simply being done was enforcement of the law by FIRS. Now what I want to hear you say is Babatunde Fowler is working.

Tokt:


U will be surprised that none in ur lineage have ever achieved what i have so far. Go to court if u are aggrived.

Tokunbo; discuss and reason with dem...

Tokt:


U are wrong. Please go back and read it up. Ur ignorance is glaring.

Super1star is already enlightening me. You can check our conversation and add yours where he missed it.

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 number the money is to be remitted into (CBN NIPOST Stamp Duty Collection No 3000047517) is not the popular TSA 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

1000 likes

Tokt:
Arrant Nonsense. We are looking for immediate ways to depend less on crude oil money and run the economy u are here talking rubbish.
If u aren't happy, go to court and Sue the govt.
Besides, what the govt simply did is an implementation of an existing law that was never enforced. It's not a new law.

Who forced them to implement it? I don't mind borrowing them money through T-bills and purchase of bonds, they do not need to rob me or anyone else by demanding i pay them for my bank transactions

Tokt:
Arrant Nonsense. We are looking for immediate ways to depend less on crude oil money and run the economy u are here talking rubbish.
If u aren't happy, go to court and Sue the govt.
Besides, what the govt simply did is an implementation of an existing law that was never enforced. It's not a new law.

Bros! So the best way to depend less on crude is to take 50 naira from that mama that saves 1000 naira every week from the akara she sells to send her son to school?
So its ok for the govt to take 50 naira from every bank customer whenever they transact just to maintain their extravagant lifestyle? Because oil money aint bringing much cash again.
So instead of the govt to look into human resource development, agriculture, other mineral resources the prefer to rob the masses?
An one fool is busy spending billions to explore the so called oil that we are trying to diversify from in a desert.
I really dont know what to call you!

In Fela's vioce, Authority stealing Arm robbery........

kai this is stealing in broad daylight

I will never this

Nairalanders sha!

Financial transaction tax

A financial transaction tax is a levy placed on a specific type of
monetary transaction for a particular purpose. The concept has
been most commonly associated with the financial sector ; it is not
usually considered to include consumption taxes paid by
consumers. [1]
A transaction tax is not a levy on financial institutions per se;
rather, it is charged only on the specific transactions that are
designated as taxable. So if an institution never carries out the
taxable transaction, then it will never be subject to the transaction
tax. [2] Furthermore, if an institution carries out only one such
transaction, then it will only be taxed for that one transaction. As
such, this tax is neither a financial activities tax (FAT) , nor a
Financial stability contribution (FSC), or "Bank tax", [3] for
example. This clarification is important in discussions ing
a financial transaction tax as a tool to selectively discourage
excessive speculation without discouraging any other activity (as
John Maynard Keynes originally envisioned it in 1936). [4]


For those who cares to know more about this development... read more here :

https://en.m.wikipedia.org/wiki/Financial_transaction_tax

[s]

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 number the money is to be remitted into (CBN NIPOST Stamp Duty Collection No 3000047517) is not the popular TSA 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

[/s]


What a load of crap!
Full of lies and trash

First of all, the stamp duties Act states that electronic transaction attract a fee of N50 on transaction.

Secondly u just blew a lie by telling us u read a 1800page document that has not even be ed! Smh

And some dimwits actually believed