Following a Direction to the telecommunications service providers in the country, the operators, will from July 1, 2016, activate the DO NOT DISTURB facility which gives subscribers the freedom to choose what messages to receive from the various networks. With this Direction the operators have been mandated to dedicate a common Short Code (2442) which will enable subscribers take informed decisions.
Mr. Tony Ojobo, Director of Public Affairs, Nigerian Communications Commission (NCC) in a statement, said this action was taken in order to protect subscribers from the nuisance of unsolicited texts, and therefore a direct regulatory response to the yearnings of the subscribers. By this action, he explained, the Commission has invoked a regulatory provision which had hitherto been overlooked by the operators. Taking cognizance of the broad range of services which include: Banking/Insurance/ Financial Products, Real Estate, Education, Health, Consumer Goods and Automobiles, Communication/ Broadcasting/ Entertainment/ IT, Tourism and leisure, Sports, Religion(Christianity, Islam, others), the Commission directed the operators to give the necessary instructions and clarifications that will enable subscribers subscribe to a particular service/services /none at all.
In fact, a Full DND which is SMS “STOP” to 2442 does not allow the subscriber to receive any unsolicited message from the operators at all.
Below are the various options:
“SMS 1” for receiving SMS relating to Banking? Insurance/ Financial products to 2442
“SMS 2” for receiving |SMS relating to real Estate to 2442
“SMS 3” for receiving SMS relating to Education to 2442
“SMS 4” for receiving SMS relating to Health to 2442
“SMS 5” for receiving SMS relating to Consumer goods and Automobiles to 2442”
“SMS 6” for receiving SMS relating to Communication/ Broadcasting Entertainment/IT to 2442
“SMS 7” for receiving SMS relating to Tourism and leisure to 2442
“SMS 8” for receiving SMS relating to Sports to 2442
“SMS 9” for receiving SMS relating to Religion to 2442
Ojobo pointed out however that the decision of the Commission does not affect personal messages or person to person messages which are private communication by individuals. He urged the operators to comply immediately with the Direction issued by the Commission and never again harass subscribers with unwanted messages.
Source:
Pages
▼
CBN clarifies N50 stamp duty on bank transactions
THE Federal Government through the Central Bank of Nigeria, on Tuesday, imposed stamp duty of N50 on bank customers for money received into their accounts.
Consequently, bank customers will henceforth pay N50 stamp duty for money received into their accounts via electronic transfer, cash and cheques.
This order was contained in a circular to all Deposit Money Banks and Other Financial institutions titled, Collection and Remittance of statutory charges on receipts of Nigeria Postal Service under the Stamp Duties Act”.
The CBN stated, “As part of efforts to boost its revenue base, the federal government of Nigeria is exploring revenue opportunities in the non-oil sectors especially taxes and rates. It is in recognition of this fact that banks and other financial institutions are enjoined to support government’s revenue drive through compliance with the provisions of the Stamp Duties Act, LFN 2004 as reinforced by the court judgement in Suit No FHC/L/CS/1710/2013. In this regard, the CBN pursuant to the provisions of its enabling laws, hereby issues this circular to all DMBs other financial institutions:
“With immediate effect, all DMBs and other financial institutions shall commence the charging of N50 per eligible transaction in accordance with the provisions of the Stamp Duties Act and Federal Government Financial Regulations 2009, that is, all receipts given by any bank or other financial institution in acknowledgment of services rendered in respect of electronic transfer and teller deposits from N1, 000 and above;
“For all avoidance of doubt the following receipts are however exempted from imposition of stamp duties: payments of deposits or transfer by self to self whether inter or intra bank; and any form of withdrawals/transfers from saving accounts;
It should be noted that these charges are only payable by receiving accounts;
“Each DMB shall open an account designated as NIPOST Stamp Duties Account into which all charges collected shall be paid. The balances in such accounts shall be transferred monthly by the DMBs to CBN NIPOST Stamp Duty Collection Account No. 3000047517;
“Other financial institutions shall remit their Stamp Duty collections to any DMB of their choice.”
source: punch, vanguard leadership
![]() |
banking hall |
Consequently, bank customers will henceforth pay N50 stamp duty for money received into their accounts via electronic transfer, cash and cheques.
This order was contained in a circular to all Deposit Money Banks and Other Financial institutions titled, Collection and Remittance of statutory charges on receipts of Nigeria Postal Service under the Stamp Duties Act”.
The CBN stated, “As part of efforts to boost its revenue base, the federal government of Nigeria is exploring revenue opportunities in the non-oil sectors especially taxes and rates. It is in recognition of this fact that banks and other financial institutions are enjoined to support government’s revenue drive through compliance with the provisions of the Stamp Duties Act, LFN 2004 as reinforced by the court judgement in Suit No FHC/L/CS/1710/2013. In this regard, the CBN pursuant to the provisions of its enabling laws, hereby issues this circular to all DMBs other financial institutions:
“With immediate effect, all DMBs and other financial institutions shall commence the charging of N50 per eligible transaction in accordance with the provisions of the Stamp Duties Act and Federal Government Financial Regulations 2009, that is, all receipts given by any bank or other financial institution in acknowledgment of services rendered in respect of electronic transfer and teller deposits from N1, 000 and above;
“For all avoidance of doubt the following receipts are however exempted from imposition of stamp duties: payments of deposits or transfer by self to self whether inter or intra bank; and any form of withdrawals/transfers from saving accounts;
It should be noted that these charges are only payable by receiving accounts;
“Each DMB shall open an account designated as NIPOST Stamp Duties Account into which all charges collected shall be paid. The balances in such accounts shall be transferred monthly by the DMBs to CBN NIPOST Stamp Duty Collection Account No. 3000047517;
“Other financial institutions shall remit their Stamp Duty collections to any DMB of their choice.”
source: punch, vanguard leadership