CBN Proposes New Charges on ATM Cards and Cheque Transactions

The Central Bank of Nigeria (CBN) is proposing a N50 charge on every cheque leaflet obtained and used at the deposit money bank's counter.

 

The Central Bank of Nigeria (CBN) is proposing a N50 charge on every cheque leaflet obtained and used at the deposit money bank’s counter.

 

This is not the same as the collection charge on cheques, which is also proposed to be “one percent of cheque value or Naira equivalent of US $10 whichever is lower”.

 

The apex bank is also proposing a N100-per-month charge on every debit card (your typical ATM card) – separate from the existing N65 charge after the third withdrawal within the same month.

 

In its draft on the “guide to charges for banks and other financial institutions in Nigeria”, CBN also proposed a N4,200-per-annum charge on foreign currency denominated cards as maintenance fee.

 

For naira dominated cards, a monthly maintenance fee of N100 was also proposed for every month a debit card is used, and a N50 charge for other months when card is used or not.

 

The proposal is coming only 13 days after Nigerians protested excessive bank charges, declaring a ‘No Banking Day’ on March 1, 2016.

 

For foreign exchange related transactions, where Form M or Form A is needed to request forex from CBN, charges that were hitherto not applicable have now been proposed.

 

The CBN is proposing a charge of a N100 on Form A, which is used by students to apply for forex on school fees, medical bills, and travel allowances.

 

Form M, which is predominantly used by manufacturers to import goods (not on the CBN prohibition list), is proposed to henceforth cost “N1,000 in addition to maintenance fee on e-Form platform in line with CBN directive”.

 

The central bank also added that Nigerians could send in their comments on the proposed charges, seeking clarification and notifying the bank on excluded financial institutions.

 

“The Central Bank of Nigeria is currently reviewing the extant Guide to Bank Charges, which came into effect on April 1, 2013,” the circular, signed by Kevin Amugo, director financial policy and regulation department, read.

 

“The review, which is in line with the philosophy of periodically ensuring that the provisions of the guide accord with current realities, also seek to address complaints from customers of financial services, requests for clarification on provision of the guide and absence of a tariff regime for other financial institutions in Nigeria.

 

“Kindly send hard copies of your comments by March 29, 2016 to the director, financial policy and regulation department with soft copies mailed to gbcreview@cbn.gov.ng.”

 

It was revealed that deposit money banks currently charge an average of N1,500 for the issuance of a 50-page cheque book.

Meet Peter Okoye's New Manager Who Replaced His Brother, Jude Okoye

Peter Okoye, one half of the Africa's best singing duo, the legendary singing P square, has officially revealed his new manager as he slides away from family business.

 

Peter Okoye and Olatunde Michaels

 

Peter Okoye of Psquare officially unveiled his new stage name, along with contact details of his new management following the highly publicized family feud between himself and his elder brother Jude.

 

 

Meet the man Peter has made his manager in place of his elder brother, Jude Okoye. His name is Olatunde Michaels. 

 

Olatunde has been a close friend of the Okoye brothers for a long time.

 

 

In 2004, he worked with Sundcity as Head of Channel. He was one time also media and event consultant for the D’banj-led DKM media as well as Station Manager, Trace TV Nigeria.

 

See more photos below:

 

 

 

 

Commotion as Assailants Hack 86-year-old Man and His Wife to Death in Abia

An elderly man and his dear wife have met death in a most cruel manner after assailants hacked the life from their bodies in Abia.

 

 

The Abia State Police Command has  arrested a  man  suspected to be among a gang of heartless criminals  that hacked to death an  86-year-old man and his 70 year old wife in their  room at  Umuovo village , Old Umuahia, in Umuahia South local government area of Abia State.

 

The police has also mounted a man haunt for other members of the gang  now on the run after committing the heinous crime.

 

The Abia State Police Command public relations officer,  Mr Onyeeke Udeviotu who confirmed the incident  and arrest said that investigations were on  to track down the  other  culprits

 

According to Leadership Weekend, in the early hours of Sunday February 28 2016, the victims Mr Godfrey Onyenadum Asonye  and the wife, Mrs Keziah Asonye  had gone to bed when  unidentified assailants gruesomely murdered them in their sleep  at about  1am

 

The couple  it was furthered gathered was only living with two small girls aged about 13, and eight as their children two men and four women are  all grown ups and were living outside the state.

 

The assailants were said to had come for some money allegedly sent to the old couples  by their children who were residing outside the state for their up keep  as well as for the execution of some projects.

 

This it was learnt fueled the suspicion that the hatchet men must have been those who have been close to the victims and had been running errands for them as old people.

 

The source said the mindless bandits had packed the loots inside the victims Toyota car parked inside his garage and were apparently searching for the key to unlock the gate before an alarm was raised by one of the little girls who were in another room.

 

According to one of the girls when she woke up and discovered her mouth has been tied with a wet handkerchief and saw a man wearing a mask who was trying to hold  her down  she jumped up pushed him out and ran out of the house and started shouting.

 

He said, the attackers had also loaded into the car some of the items the woman purchased for resell in her stall in the village but abandoned everything and fled when the alarm was raised

 

The immediate younger brother of the victim, Mr. Lawrence Chukwuemeka Asonye,  said the assailants allegedly  gained entrance into brother’s compound through the backyard fence and through car park door.

 

According to him Pa Asonye, a British trained Civil Engineer who retired with the Abia State Ministry of Works “we found him  dead in his bed, while the wife’s hands and feet were tied backwards with sole-tape before she was  clubbed to death  The attackers used stick in clubbing the hapless couple to death” .  

 

The Suspects after the gruesome murder locked the rooms behind the victims after carting away their plasma television, clothes, some other valuables and money sent to them by their children for their upkeep packed the loots inside the victims Toyota car parked inside his garage and were apparently searching for the key to unlock the gate before an alarm was raised by one of the little girls who were in another room and had been gagged with hand kerchief on her mouth.

Very funny! The Name Of This Nigerian School Will Make You Rolling The Aisles

Some Nigerian schools are known to adopt really funny names and titles over time and this particular school will leave you in stitches.

 

 

Nigerians are people who are full of drama and most times they consciously create things that make life even more dramatic. The name of the school above has just exemplified that.

 

The signboard bearing the name of a school recently took the internet by storm, going viral almost as soon as it emerged.

 

Although the exact location of the school is not clear, one thing is sure; you can't find this kind of school everyday or everywhere.

Please Pray With Me - Nollywood Actress, Fiberesima, Begs Nigerians As She Faces 5 Years In Jail

Embattled actress, Ibinabo Fiberesima has begged her friends and foes alike to pray for her as she faces the reality of returning to prison again.

 

Ibinabo Fiberesima

 

Actress Ibinabo Fiberesima was sentenced to five years imprisonment yesterday by Justice Deborah Oluwayemi of a Lagos High Court for the death of one Dr Giwa Suraj whom she killed in an auto accident along Lekki-Epe Expressway, Lagos.

 

Ibinabo had gone to the Court of Appeal to challenge a jail term slammed on her by a Lagos High Court, in her amended appellant brief filed by her lawyer, Nnaemeka Amaechina, urged the court to set aside the sentence and restore the decision of the Magistrate Court which sentenced her to a N100, 000 fine. 

 

But, delivering judgment yesterday, the appellate court dismissed the appeal and affirmed the High Court’s judgment.

 

Shattered by the development, Ibinabo who is the President of the Actors Guild of Nigeria, AGN, had gone to her facebook page to ask Nigerians to pray her. “Pray me ,” she wrote. 

 

 

When Vanguard contacted her on the telephone, Ibinabo’s PA confirmed that the once cheerful actress has been speechless since the judgment was delivered. 

 

According to her, “My boss has been feeling unwell since the judgment was delivered. We are afraid it doesn’t affect her health. She just had an operation.”

$127m Lottery Winner Sued by Her Pastor for Not Fulfilling Her Pledge

A pastor of a church has sued a member for not giving him a part of her lottery winning claiming her refusal had put him through emotional distress and mental stress.

Lottery winner, Marie Holmes

Pastor Kevin Matthews out of North Carolina is suing Marie Holmes, the woman from North Carolina who won $188 million in the Power-ball lottery.

Holmes is a single mother of four children — one of whom has cerebral palsy. Holmes worked multiple jobs to take care of her children, and by becoming a Power-ball jackpot winner, plenty assumed that her troubles would be over.

Holmes is reportedly facing a $10 million lawsuit from a pastor, no less. Pastor Matthews — a local North Carolina pastor — is allegedly suing Holmes to get a share of the $127 million that Marie took home after she decided to receive her Power-ball lottery winnings in a lump sum payment.

Pastor Matthews claims that he and Marie engaged in a verbal — not written — contract worth $1.5 million for Holmes to buy land to act as the home of some sort of retreat facility. The pastor spoke with EURweb in an exclusive interview that claims the Lord led him to Holmes.

Although Pastor Matthews claims he suffered from mental distress and emotional distress over Holmes allegedly reneging on her verbal promise over the $1.5 million Marie was reportedly supposed to give Pastor Matthews for the retreat, Holmes’ lawyer, Ruth Sheehan, knew nothing about the lawsuit.

Pastor Matthews claimed he went through such a hard time that he needed more meds.

Pastor Matthews said the retreat center was something that the pastor had prayed about for years.

 

The backlash being felt by the rumored lawsuit involves a supposed man of God allegedly forgetting the popular 1 Corinthians 6:1 verse that dissuades Christians from taking one another to court.

See How President Buhari's Past Statement is Coming Back to Haunt Him

During the presidential electioneering campaigns, President Muhammadu Buhari made several statements to win the hearts of Nigerians and some of these statements are coming back to stare at him.

 

President Muhammadu Buhari

 

President Buhari made a strong statement on the 3rd of February 2015 on Social Media Platform twitter, when Presidential Campaigns by the APC and PDP the two leading parties dominated the Social Media Hemisphere in Nigeria.

 

Buhari and his associates heavily criticized GEJ's PDP led administration and proffered solutions to the dire situation Nigerians faced in the oil sector of the economy. Little did he know that his own administration would even be worse.

 

Senator Ben Murray Bruce took to twitter to remind Nigerians of one of the things President said when he was running for president

 

 

 

Sadly the same situation Buhari preached against is coming back to stare Nigerians in the face.

 

News broke out in the media this week about how citizens queued up with generators rather than kegs, just to get fuel from fuel stations in lagos.

 

The Nigeria Union of Petroleum and Natural Gas Workers has even predicted that the fuel scarcity may last till the end of March.

 

Its quite unfortunate that President Muhammadu Buhari's statements and jibes last year came back to haunt him in the most unforeseen way.

 

The Buhari government is now struggling to curb frailties which he saw in the previous Government.