Naija News
Banks Commence N6.98 USSD Charge, Customers Kick
Some banks have notified their customers that they will start charging them N6.98 for every USSD transactions.
However, experts have said that excessive charges by banks could pose a threat to financial inclusion.
According to them, it will increase cash transactions because many bank customers would avoid using the USSD for transactions and could also discourage the unbanked segment of the population because they would not like to pay such charges over their little deposits.
A message from some of the banks, including Guaranty Trust Bank, First Bank and Fidelity Bank on ‘Update on USSD transactions’ stated, “Please be informed that you are now required to pay a fee of N6.98 to your mobile network provider for every banking transaction carried out on all USSD banking platforms.
“This means that when you send money to anyone using USSD, a fee of N6.98 will be charged to your bank account, which is in turn remitted in full by your bank, to your mobile network provider.
“Please note that airtime and data purchases via USSD are exempt from this charge on USSD platforms.”
The banks urged the customers to make use of other electronic transactions available in the banks to avoid paying the fees.
A former President, Association of National Accountants of Nigeria, Dr. Sam Nzekwe, said too many changes by banks were unfriendly to financial inclusion drive, especially to the un-banked Nigerians.
He said people would prefer to walk into the banking hall to make payments.
“There are many charges that the banks charge the customers, even if you don’t do any transaction. Some of these informal sectors will start running away because they cannot understand the many charges. That is why many of the informal sector still do their transactions by cash.
“What an average customer wants is show me why you should charge me. But you are charging me for many things and at the end of the month you will still charge me again.”
He said banks should be completely open to their customers in their transactions.
A fashion designer, Balogun, said, “I have bank account but I prefer to go to bank and do my things. How much do I have in my account that they want to be deducting charges anyhow?”
READ ALSO:
Case Against CBN’s Directives On Bank Charges Court Dismisses
‘Nigeria beyond oil’ — Political, business leaders converge for FT Nigeria Summit
CBN to Empower Cultivation of 80,000 Hectares of Cotton – Emefiele
ADVERTISEMENT
ADVERTISEMENT
Kogi state governor, Yahaya Bello, has approved the implementation of N30,000 as minimum wage for the workers in the state.
The secretary to the state government, Folashade Ayoade disclosed this on Tuesday after an extensive meeting with the organized labour in Lokoja
She blamed the delay in the implementation on the inability for the committee to meet regularly due to the covid-19 pandemic which has been overcome.
The SSG equally commended the organised labour for their understanding and patience, which she said has resulted into the signing of the implementation of the new minimum wage.
Read Also: FCTA Set to Implement Minimum Wage for FCT Workers
Author: Eunice Johnson, Abuja
The Central Bank of Nigeria (CBN) has put Deposit Money Banks (DMBs) on notice that it will stop selling forex to them by the end of 2022. CBN Governor Godwin Emefiele made this known in Abuja on Thursday at the end of the Bankers’ Committee Meeting where he also introduced the RT200 Programme.
Emefiele said the time had come for the banks to go out there and source for forex by funding entrepreneurs with ideas. The CBN, Emefiele said, will support the banks by granting rebates and other support until the banks find their feet in sourcing their forex by themselves.
He also disclosed that the apex bank’s policies and measures have led to a significant improvement in diaspora inflow from an average of US$6 million per week in December 2020 to an average of over US$100 million per week by January 2022. He added that the CBN would be reviewing these intervention programmes going forward to ensure that they continue to achieve the desired results.
He said international bodies, including some embassies and donor agencies, have been complicit in illegal forex transactions that have hindered the flow of foreign exchange into the country.
Read Also: CBN Encourages Nigerians to Accept E-Naira
Author: Gift Wada, Abuja
The Comptroller General of Customs Col. Hameed Ibrahim Ali (Rtd.) has approved the deployment of 37 Comptrollers to various Units, Departments and Commands across the country.
This was disclosed in a release signed on Tuesday by the Customs Deputy National, DC Timi Bomodi for the Comptroller General of Customs.
Among those deployed are the present National PRO of Customs Comptroller Joseph Attah who will assume the office of Area Controller of Kebbi Command, Comptroller AAS Oloyede who shall be moving from ICT/MOD to Tin Can Island Port Command, while Comptroller SI Bomoi to FCT Command. Other postings are Comptroller BA Jaiyeoba to Oyo/Osun Command, Comptroller A Dappa-Williams to Eastern Marine Command, Compt. MA Umar Kano/Jigawa, Compt. KC Egwuh ICT/MOD, Compt. LM Mark Enugu/Anambra/Ebonyi, Compt. T Tachio CTC Kano, Compt. AA Umar Western Marine, Compt. M Dansakwa North Eastern Marine, Compt. AC Ayalogu T & T and Compt. KD Ilesanmi will assume duty as Comptroller Board among others.
Ali in postings released on 7th of February, charged the newly posted Comptrollers to justify the confidence reposed in them by NCS Management by bringing to bear their years of experience and training in trade facilitation and anti-smuggling activities on their new assignment.
Given the enormous expectations of government regarding revenue generation in the current year, the Comptroller General reiterated the need for all Area Controllers and Unit heads to take full charge of the affairs of their Commands by ensuring absolute compliance with extant fiscal policies while leveraging on the efficient management of data to optimize trade facilitation and revenue collection.
Furthermore, the CGC directed all officers to be extremely vigilant in protecting the lives and wellbeing of Nigerians by ensuring the full fortification of our borders against the incursion of smugglers and other cross border criminals.
Read Also:
Customs Raises Concerns over Finance Act as Senate Sets N3trn Target for Revenue Agencies
Comptroller Ali Ibrahim Assumes Duty as New Customs FOU Zone ‘C’ Boss
Nigeria Customs Service Reaffirms Commitment to Gender Equality in Decision-Making
ACG Swomen Charges Trained Officers on Weapon Handling to Remain Worthy Ambassadors Customs
CGC Adeniyi Meets NFIU DG, Reiterates Commitment to Enhance Border Security
-
Revenue Streams2 years agoCommunication Ministry Gives Zero Allocation to Nipost Out of N137.2billion Capital Votes
-
Customs Corner2 years agoCustoms Emerges Champions of 2022, Male, Female National Volleyball Super Cup
-
Newsroom3 years agoNNPC Blames #EndSARS Protests, As Fuel Queues Return
-
ICT5 years agoFinally! Huawei Launched Harmony OS | Let the Rivalry Begins with AndrodOS
-
Naija News6 years agoINEC registers 23 new political parties. YES, RAP, UP, 20 other parties
-
COVID-194 years agoVaccine Trials Starts Round The World: All You Need to Know
-
Customs Corner3 years agoArea Controller, Murtala Muhammed International Airport Command Passes On
-
Foreign2 years agoPhilippines’ Duterte Blocks Bill to Register Social Media Users