, noting that the N50 stamp duty is a fee regulated by an act that directs merchants to pay all necessary taxes as regulated by government agencies.
But on Monday, Mr Jimoh said the move by businesses contravenes the CBN’s directive on POS transaction. “What has happened is that they have actually transferred this fee blatantly and openly to the consumers; this is very wrong. No single individual should pay N50 in addition to the cost of the goods.”
Although the official did not specifically comment on what the CBN would do to defaulting merchants, he said the apex bank has its way of monitoring compliance with its numerous directives. The CBN has also stipulated sanctions for defaulting businesses and organization.
Who should pay? The burden of the tax is on the consumer.
Now, you're pretending to curb the menace you created. Where was your senses when you were busy making nonsense economy policies?
Any serious government would not be forcing 50naira either on the business owner or the customer, using electronic payment reduce cost of printing money that CBN incurred. So telling us to pay for this electronic service is very wrong
It's not enough to shout STOP! WHAT HAVE YOU DONE ABOUT IT?
Why do Nigerian officials communicate improperly? I think they need to review their curriculum on the English Language. This is getting too many these days.
SheriffAdeshile, won ba e wi nibi wo
Talk is cheap,they shld go beyond paying leap service when it comes to bank customers. What has any Nigerian gain from all of these policies? Nothing. Only banks and CBN making money
The don't collect less than 100
cbn should tell us if this happens what can we do,complain centre,number to call, twitter handle of cbn but functional one
We pay 100-200 not 50
Some charge 200 for 5000 transaction.
But they keep charging us😥😥
CBN should rather stop being silly. All costs must be paid for. The best thing is to remove the cost in the first place, otherwise, businesses will have to pass the cost to customers.
I wonder how cbn will enforce this