The FCCPC issued the directive in a statement personally signed by its Chief Executive Officer, Mr Babatunde Itukera and made available to journalists in Abuja.
In recent times, there has been significant contention with respect to merchant imposed N50 stamp duty on consumers for POS transactions. This imposed fee, which is said to have emanated from the Central Bank of Nigeria is meant to be for consumers who select POS options to conclude their purchases or transactions.
Irukera in the statement described the charge as counterproductive as it negates the effort of the apex bank to promote a cashless economy. He said the merchants’ response of imposing this assessment on consumers was not only inconsistent with the cashless policy, but also counterproductive and burdensome to consumers.
Who gave the go ahead for deduction in the first instance? Uncoordinated lot!
Can someone please tell us how they will ensure that it is paid by the merchants and not the customers who will be charged more for the goods bought or services enjoyed to take care of the N50 tax?
Does it cover VAT/ Commission charge using mobile banking transactions? Because, we are charged for every transaction carried out.
Misplaced priorities
The charge has discouraged the cashless policy badly. They should enforce the new directive.
This govt just going back and forth. Huh
I was charged today at NNPC filling station toll gate Ibadan
I was just charged for this now. NNPC filling Station, college road, Ogba
Should be returned
This is a good one for democracy
Good ooo
iamHigh_D
Solastar2
People without proper plan
General Buhari to the rescue 😂
We enjoy nothing in that country and yet the people are taxed..🤔🤔
This people get one funny plan. Watch out 🏃🏼♂️
Smfh
Impressive
More wreck than help makes help uncelebrated
Operation Tax deduction will take full swing. Just watch.
Even the banks in Nigeria are robbers . How can they charge 50 naira for each transaction ?
Stopped what ?
What is going on... has An ANGEL taken over Aso Rock nii?
But VAT has been increase to 7.5%
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