lomprico:

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!

agriculture particularly!

Super1Star:
Are you this daft!!!!

Something is an Act, a law in its own right and your are here debating something that is not debatable.

FG only implemented the law. How is that a crime?

We are too used to lawlessness in this country to the extent that we now believe it is the right way of life.

If you were as smart as you thought you sounded with your insult, you should have at least briefed the OP and myself which section of the Nigerian constitution this law is found.

Khan1993:
How i wish we could be charge for every post on social media. Cos its always either slander or arrant nonsense. That said, can somebody please help me understand why the law wasnt implemented before because as said by some1 here, its not a new law.
Again OP, did you say you read the whole budget, well i did too but on social media so i cant tell if its 1800 pages. From the budget, it palpable that more of this is iminent. I know i sound indifferent but with the price of crude oil nosediving(in case you havent noticed, its now below the assumed benchmark price) and the devaluation of naira each day, more of this expedient laws are pending.
Lets learn to sacrifice for our country.

sir, Nigeria is not worth sacrificing our 50naira because it wont av any positive effect on Nigeria. there are ways to save funds;
* Lets FG reduce presidential fleet to 1
* Let each Senator receives 100k as monthly salary & Rep get 70k monthly without any other allowances

idupaul:


I see your director has mandated you guys to intercept and engage any dissenting view.? 50 naira stamp duty is nothing but brazen thievery by the govt. .what have the done with VAT they collect on every single service and sale ... as a father if u need to improve urgent household will you tax the children's pocket money they got from you or you will strive to earn more from outside the home

Don't mind those people .. That guy may just be jobless somewhere

otitokoroleti:
sir, Nigeria is not worth sacrificing our 50naira because it wont av any positive effect on Nigeria. there are ways to save funds;
* Lets FG reduce presidential fleet to 1
* Let each Senator receives 100k as monthly salary & Rep get 70k monthly without any other allowances

i couldnt help but acquiesce with you.

Akainzo:


The only way to prove an Act or Law is not in the best interest of the average Nigerian, is to challenge the law in a law court.

Ok,I ll inform Lalasticlala to file a suit on this. Thank u very much !

some people reason with their backside,most of us here might never get to pay this money, to be honest banking is not really free,the banks have stopped COT with immediate effect from next month so what the big deal, they wont charge you if you transfer from your own account to your own account what ever bank and they wont charge you if you receive funds on savings account so this is mandatory for o nly current account holders, Now tell me is is compulsory to own a current account? cos I don't own one mayBE someone can tell me why they need a current account in Nigeria,what's the benefit?

Some poster that are saying tax is been paid in advance countries, can we compare their economy with ours? an average unskilled workers earns between $5 - $8/hour. how many skilled workers earn such in Nigeria? Some people resells data to earn a living & you expect such person to pay 50naira on each 1k paid or transfer to his account despite the fact that his profit on 1k is not up to 50naira. Government should stop the act of making life difficult for Nigerians.

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.

Bill Gate of Nairaland. People that have so made it do not live on nairaland.

erico2k2:
some people reason with their backside,most of us here might never get to pay this money, to be honest banking is not really free,the banks have stopped COT with immediate effect from next month so what the big deal, they wont charge you if you transfer from your own account to your own account what ever bank and they wont charge you if you receive funds on savings account so this is mandatory for o nly current account holders, Now tell me is is compulsory to own a current account? cos I don't own one mayBE someone can tell me why they need a current account in Nigeria,what's the benefit?

sir, from what I read it also affect deposit into savings account as long as the account holder is not the one depositing into the account.

Tokt:


The account in question is domiciled in CBN. Isn't it? That's the first bus stop before onward delivery into TSA. Even monies deposited into the TSA have their initial bus stop. Don't they?

Will you stop trampling on your senses. Only zombies will believe your trash.

Super1Star:
****

Something is an Act, a law in its own right and your are here debating something that is not debatable.

FG only implemented the law. How is that a crime?

We are too used to lawlessness in this country to the extent that we now believe it is the right way of life.

U ve ur point but d charges r goin to affect d poor masses more dan d rich.
Imagine #50 collected from a person wu receives #2000 & #50 frm a person Wu receives #200000.
Pls, Wu feels d brunt of d policy?

FG has to review whatever plan dey have before implementing Dem. Sad pple like u support everything irrespective of d direct/indirect effect on d pple.

Tokt:
[s][/s]

SHut ur trap or tell me the biggest thing anyone in ur lineage has ever achieved.

. Guy, u are truly kid with dis ur act. Why cant u just share ur opinion and stop insult. Are u the one dat invented facebook ni or u are bill gate. If u truly av any achievement, u wunt act like dis.

uhiochris1:
As a student if you parents send you N2000, FG will take 50 if you withdraw the money bank will take its share + SMS charges after that how much are you gonna go back with.


Nawa oooo

Best Regards,
Chris.

Excluding savings account bro, when I read it earlier, I don't think students can b opening current account or other complex accounts. Most of the. deal with savings account if not all of them..

This OP is so daft, come here to spread ignorance like Ebola virus. Next time say what you know. Thank you.

otitokoroleti:
sir, from what I read it also affect deposit into savings account as long as the account holder is not the one depositing into the account.

Nop it doesn't, go and read it again, this is the assumption that is eating away the sleep of some people, read again and come back plz

Utchman1:


Please FG is not your father. The earlier you understand that the better for you. You are complaining about 5% VAT where as you will pay 20% VAT in the UK.

It is your responsibility to pay tax to the government.

then tell me economy of uk. And tel me how much u earned weekly there to our own.

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

Because one must pay tax means it has to be anti-people? and it has to be double or triple taxed? which one of the organized country bank/government did charge the customer for monies deposited into their account. and note this is for stamps not supplied?

just because its an "Act" that needs to be implemented does not mean its always right and people oriented. if an act was enacted and it is anti- people policy, a sane government needs to review or revoke the law.

I believe a forum like this is where we ought to have our views on what the government/people are doing right and those that are wrong and see a way of making them correct the mistake. if we continue to fight ourselves on platforms like this, I bet there is no way we are moving forward.

I feel pitied seeing people abusing others just because the say their opinions on issues they think are not good. if anyone has a contrary view you have to object to it constructively with proves if possible without using abusive words on other which I see as childish.

please let us all put tribalism, religion and political party affiliations aside always as this will enable us move the nation forward if we want our future generations to enjoy this our great nation.

Utchman1:


Please FG is not your father. The earlier you understand that the better for you. You are complaining about 5% VAT where as you will pay 20% VAT in the UK.

It is your responsibility to pay tax to the government.

then tell me economy of uk. And tel me how much u earned weekly there to our own. Why cant u tell all our local club to be paying 20 percent vat here if they wil not stone u to death. lol.

sniperr007:


U ve ur point but d charges r goin to affect d poor masses more dan d rich.
Imagine #50 collected from a person wu receives #2000 & #50 frm a person Wu receives #200000.
Pls, Wu feels d brunt of d policy?

FG has to review whatever plan dey have before implementing Dem. Sad pple like u support everything irrespective of d direct/indirect effect on d pple.

If you transfer money from Nigeria directly unto someone's account in the USA via wire they charge the receiver, did you k now that?

APC government is the worst thing that happened to Nigeria. A party that produces leaders who lacks vision, focus and direction. Nigerians will soon realize the mistake.

I think when this law was made 1000 naira was a large sum of money...


If the current administration wanted to implement this, why not account for inflation and dey the price accordingly?


They say there's no money but their wardrobe allowance alone can pay minimum wage for a crowd.

The amount budgeted for Food and vehicles can be used for capital projects.

Why are we borrowing to finance trivialities when we can cut those costs?


The money should be from 50,000 up so that the poor masses are not discouraged from banking.

na 500 i go dey send my boys to go deposit every day so dat my money wunt be thief by fed govnt. Thank god i don wise.

rhapsody:
It's very disgusting when I see headlines and posts like this. The stamp duty act has been in existence since God knows when and Nipost has been battling for years to implement it.The money goes into TSA. And it has noting to do with budget. It's like crying wen custom enforce custom duties.

Until we begin to embrace taxes in this country we are goin now wer. Som1 wasted 2.1 billion on election u say it's witch hunting, if you had paid 100k tax u will Def see tins differently.

We travel all over the world and pay taxes on everything we do but we don't complain, to pay N50 for one transaction u enter Naira land dey talk rubbish.
Smh

our taxes are eaten by the government..let the government perform then we start paying more taxes...are we this daft and forgetful in nigeria.....don't you pay tax already...what have you benefited in return form the tax you pay...na so we go mumu just to support anything we see without weighing all options...

Utchman1:


Please FG is not your father. The earlier you understand that the better for you. You are complaining about 5% VAT where as you will pay 20% VAT in the UK.

It is your responsibility to pay tax to the government.

Dear, I see you don't understand the OP opinion. nobody or the op is talking about 5%VAT here. try as much to read very well before commenting

tempest01:
I think when this law was made 1000 naira was a large sum of money...


If the current administration wanted to implement this, why not account for inflation and dey the price accordingly?


They say there's no money but their wardrobe allowance alone can pay minimum wage for a crowd.

The amount budgeted for Food and vehicles can be used for capital projects.

Why are we borrowing to finance trivialities when we can cut those costs?


The money should be from 50,000 up so that the poor masses are not discouraged from banking.

was it not made 2004?

Emyogalanya:
Pls barcanista do not come here and start typing trash northerners dont do bank transactions cos its against islam so hope you wont start calling me anti nigerian jobless ipobian ask ur president to charge for farm produce instead if he wants to raise money. The problem of tonye is that he is born and resident in port now he wants to form a nationalist but he is lost

Smh! You didn't even try to hide your myopic and shallow ignorance.

Pathetic!

Akainzo:


Let me just share this to help you, if you do more than 5 transactions from any bank in the US, you will incur charges for subsequent transactions.

In Canada, Most of the banks have the 1st 10 transactions as free, subsequent one will incur charges.

At least, this are the one I know. So clearly, it is not only in Nigeria that customers pay for bank transactions.

To prevent this charges, most people use their Credit Cards and then use one transaction from their bank account to pay it off.

No one is complaining of bank charges. what we are saying is the N50 charge for stamp duty is not OK. this is different from the normal bank charges that you incurs during transactions.

where does the bank charge money goes to in the us? is it the bank purse or the government purse.

please let's not always use the wrong comparisons just because we want to defend someone/something.

thanks

erico2k2:

was it not made 2004?

I can't tell...I used "I think".



I wasn't even aware of such act...someone said "since when abiola won election" that's why I wrote that

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.

"Bad laws are the worst sort of tyranny" what law is this author talking about? The law is made for the people and not the people made for the law. This is a high state of exploitation and the people's condemnation must be aired without any intimidation of any sorts. Meanwhile, I am not surprise at all because I know a priori that this government is a government of distraction and deception! Our Democracy is fraud!

This government and Nigerian Police force are like bread and butter.

tempest01:


I can't tell...I used "I think".



I wasn't even aware of such act...someone said "since when abiola won election" that's why I wrote that

if you read the wordings of teh CBN you will notice the date and the citation, try and go back to read it.It is also contained i n the original publication of the mandate given by the CBN today.Our youths should learn how to get informed so they do not come across as naive when they put their arguments across.