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Wednesday, 27 January 2016

POLITICS: Secret Plan to Extort N2.5 billion Daily from You & I through N50 Stamp Duty

Former American president, John F. Kennedy once said “Don’t Think of What Your Country Can Do for You, Think of What You Can Do for Your Country”. It is obvious that at this point in time of economic recession Nigeians must Do something for Nigeria whether they like it or not. The Central Bank of Nigeria (CBN) has informed the public it’s decision of N50 stamp duty on Bank Deposits and other banking transactions
. Bank customers will henceforth pay N50 stamp duty for money received into their accounts via electronic transfer, cash and cheques.This move is geared towards boosting government revenue base, the federal government of Nigeria is exploring revenue opportunities in the non-oil sectors especially taxes and rates.
Edeson Online News gathered that the transfer of money through Point of Sale, Automated Teller Machines and mobile money transactions may will generate revenue of about N2.5 billion daily for the government.
Nigerian Economists suggest that the N50 stamp duty on bank customers will not encourage Nigerians to save money in the bank as majority of them are either small business owners or low income earners
Nigerians are of the opinion that the Buhar-led administration may end up not accounting to the said revenue being generated from the N50 stamp duty. With this policy, the government will take from Nigerians with Nigerians having little hope of taking from the government.
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GUYS, WHAT DO YOU THINK OF THE N50 STAMP DUTY?

ENDY EDESON Reporting
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FACEBOOK COMMENTS
 
Francis C. Isuh likes this.

Oluwaseun Praise O'neal

If u don't have anything to write close ur blog or do ur findings before posting nonsense

Sebastian Chukwudumebi Egbuneonwo

Nawa o! them no go kill person for this country. if this is true and they are going to implement it, then i have no choice than keeping my money in d house.

Endy Edeson

@OLUWASEUN: what is wrong with the article. don't talk to me like that.did i tell lie or write against anyone? it's a policy analysis.

Oluwaseun Praise O'neal

Ask a financial expert about stamp duty, it has been in existence as signed into law since day days of ur Jonathan and he was timid to make it happen. We can't as a nation depend on one singular source of funding our budgets and we should seek alternate means which bomb is doing. Now this law woolly have little effect on low class earners cos we do transport huge monies. We forbids pos to buy pepper in d mkt and we don't go to game or shopright. That sounds well abi but we are going to pay but not like dat middle class and high class

Endy Edeson

@oluwaseun: i'm not kicking against the stamp duty but what matters to many Nigerians is how this stamp duty will be remitted and utilized. Nigerians want full account of their cash and want to benefit from it.

Endy Edeson

@jesse: are you saying the story is false or you have not heard about it?

Oluwaseun Praise O'neal

Then change ur caption
Don't heat d polity.
If it's been last administration we camber afraid that d money won't be utilised but with pmb. Kirikiri awaits looters u know and I know he focused on power and food supply. We can be better without oil u know and we can survive

Endy Edeson

@oluwaseun: "TRUST" is the watchword is this scenario. How far can we trust?. If we don't raise alarm now concerning how we feel, the government may take things lightly. This post is like a reminder to the government that Nigerians are watching. It is no longer business as usual.
 

Oluwa Constance Fyno

Yyyy una dey attack d writter naaah.if his finidings are not true would he post anytin abi naa today una dey see hym news onlIne!!!!!!!!
Na wa ooOoo eko o ni baje
Like · Reply · Delete · Report · 11 hours ago

Oluwaseun Praise O'neal

But we all raise alarms now, did we do that during the last administration, no.
But we are yet to agree that business is not as usual again. Pmb movement is bringing reward and we are happy. Do u ever think that we have an arms funds elsewhere. That some cabals are sharing and leave us all in penury. Now we must support this govt who are ready to salvage US from this trauma. We can only help pmb by prayer and steadfastness. Also we shouldn't give in for false information that goes about.
Unlike · 1 · Reply · Delete · Report · 11 hours ago

Endy Edeson

@fyno: good to know, you see the elements in my stories. thanks
Like · Reply · Edit · 11 hours ago

Oluwa Constance Fyno

Aiiiit ooooooo.itzz well
Like · Reply · Delete · Report · 11 hours ago

Eze Solomon Emeka

What happen to all the natural resources? abi na only oil we get? you sow to a nation before you start reaping, reaping from where you don't sow is extortion, what do business men benefit from the government? in an economy where there's no road, good transport system, electricity, water supply, and other infrastructures.
You feed a cow before you start milking it, cos milking an unhealthy hungry cow ravaged by economic trauma is murder.
Some can't afford three nutritious meal in a day but the president budgeted millions of naira for his feeding, how much is the minimum wage? may God save us from this "change"
Unlike · 3 · Reply · Delete · Report · 11 hours ago

Emmanuel Gilbert

I wonder why someone will be acting as advocate for govt. bad economic policy, how is the N50 stamp duty not wicked and illegal, this new CBN governor is just initiating and implementing pharaohic policies to the detriment of Nigerians, I pray and knw he will soon b disgraced, my concern is that this administration which says its for the masses just watches Nigerians being milked dry, God will help us

Oluwaseun Praise O'neal

So how do u want the budget to be funded. Money's from tax. Monies from dues etc. Tell me when last did u pay for ur TV and radio license. Car stereo license etc. We are not ready in Ds country. Ask ur brother in UK hoe much they paid to govt directly in taxes and dues, let's be fightefor values for our monies and not be archaic in reasoning

Emmanuel Gilbert

Ya smart guy your smart point of reasoning is to charge people for depositing their money in bank, do u know how much I pay govt for shop tax, firs tax, sign-post tax and more, when u are been fed and all your bills r taken care of by the govt or an organization u don't knw what people go through to make things happen, this is not UK where things work, tell ur govt to make things work here first

Emmanuel Gilbert

tell ur president to reduce just his allowance and that of his aids and agencies and there will be enough money to go round or are Nigerians supposed to fund their excesses??

Oluwaseun Praise O'neal

How much can u realised from his allowance and dat of his aides, rem he has reduced it already. Let gej and co return all stolen monies and tell ur lawyers brother not to defend the corrupt in court.

Emmanuel Gilbert

Go and check the budget b4 u come to talk in the public, only the president and white house allowance can feed a whole village, your brother is also among the defenders if you dont knw, Nigeria can never live on only returned money, the govt should hav a brain to tap our resources and harness them, than just telling us of stolen money

Ezenwa Okorocha Peculiar

@praise stop those incompetent UK tax excuses, why not mention other countries dat have better policies for their citizens, Must we do it UK way? But if we must do it so, have you ever imagined the standard of living in UK? My friend you only pay for TV licence if you can afford more TVs in your house dan Gov. approved you should.

Eze Solomon Emeka

when I listen to some people, I have no option than to laugh, that is how much partisan politicking has eating deep into the mind and brain of some fellow Nigerians, comparing UK to Nigeria is like comparing heaven and hell.

Oluwaseun Praise O'neal

Una well done ooo

Akintoye Oluwafemi Akeem

Let pay fırst then we ask how ıt wıll be spend. 50 ıs too small.

Benson P. Benson

Stop spreading false news to incite the public. It is normal to pay stamp duty.

Endy Edeson

@benson: what we are talking about is "BEYOND STAMP DUTY"

Akande Ebenezer Olusanjo

My Money in my local bank "Kolo" in yoruba
 

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