Monday, November 23

Tag: payments

Members of a cabal were enriching themselves with susbidy payments – NNPC GMD, Mele Kyari
Politics

Members of a cabal were enriching themselves with susbidy payments – NNPC GMD, Mele Kyari

Mele Kyari, Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) has alleged that members of a cabal were enriching themselves with susbidy payments before it was removed by the federal government.   Kyari who said this in an Hausa programme on Liberty FM, Kaduna, insisted that fuel subsidy was not beneficial to the masses and was removed because it was characterised by fraudulent activities.   The NNPC GMD also disclosed that the money from subsidy payment will now be channeled into projects that will have a direct impact on the masses.   Kyari said;   “The crude oil is a global commodity and its price is not hidden, everyone can calculate and know how much is the cost of every final product from the crude at the inter...
Premier League clubs discuss curtailing season for first time
Sport

Premier League clubs discuss curtailing season for first time

Clubs still hope to finish the season in its entirety, but Premier League chief executive Richard Masters acknowledged that may not happen Premier League chief executive Richard Masters says clubs discussed curtailing the season for the first time on Monday in the aftermath of prime minister Boris Johnson's latest updates for opening the United Kingdom. The league's 20 clubs took part in a video conference on Monday in an effort to try and find a solution to finish the remaining 92 games of the season. Clubs are said to be determined to finish the season to avoid having to pay back any television money or sponsorship payments, but it may not be possible to play out all of the remaining games.
French leagues reach financial agreement with broadcasters and reaffirm plan to finish season
Sport

French leagues reach financial agreement with broadcasters and reaffirm plan to finish season

After weeks of negotiations, a settlement has been reached which it is hoped will help secure clubs' futures during the coronavirus crisis The French Professional Football League (LFP) has announced it has reached a financial agreement with broadcasters Canal+ and beIN Sports for the payment of television rights. The discussions with the two broadcasters, who show Ligue 1 and Ligue 2 matches, lasted several weeks. As the league season ground to a halt amid the coronavirus pandemic, TV rights payments were stopped, forcing club presidents to organise themselves in an attempt to find common ground with the broadcasters.
How Intelligent Security Will Drive eCommerce Growth
Lifestyle

How Intelligent Security Will Drive eCommerce Growth

The COVID-19 pandemic has prompted an unprecedented surge in eCommerce transactions, with more and more consumers choosing to shop online especially as their favorite retailers have had to temporarily close their physical stores. In addition, people prefer staying at home and avoid contact with potential contagions outside. Brick-and-mortar retailers are likely to follow latest trends by bolstering their online presence or even venturing into the eCommerce realm for the first time. While the current circumstances have radically reimagined consumers’ shopping patterns and prompted merchants to go online quickly, consumer expectations remained the same. They want secure and seamless payment experience, especially now, when world is on a lockdown, and scams are on the rise. This is why we ...
Liverpool face missing £35M from Coutinho fee
Sport

Liverpool face missing £35M from Coutinho fee

Liverpool could miss out on a hefty chunk of the original fee which took Philippe Coutinho to Barcelona. The Daily Mail says the Reds could be set to miss out on £35million in performance-related payments tied up in Coutinho's move to Barca, who are struggling for cash during the coronavirus crisis. Coutinho left the Reds after five years at Anfield in a headline £142million move in January 2018, with his future success at the Nou Camp seen as a given by many. However the Brazilian would often struggle to hold down a place in the team in Catalonia, and after just a year-and-a-half at the club he was shipped off on loan to Bayern Munich for the entirety of the 2019/20 season. The Reds are now "unlikely to receive" that money due to Coutinho's lack of impact at Barca, and what's ...
Fear of sack grips teachers in Kaduna as COVID-19 spread persists
News

Fear of sack grips teachers in Kaduna as COVID-19 spread persists

Fear of job loss has grips private school teachers in Kaduna State as school owners may not cope with payment of salaries due to the COVID-19 lockdown. Some teachers, who spoke to the News Agency of Nigeria (NAN) on Thursday in Kaduna, said if the lockdown persisted, private school owners might be forced to lay-off some staff so as to remain in business after the restriction. Mrs Irene Bukola, a teacher at Excell Model School, Narayi, told NAN that many private schools depended on school fees to pay their staff. “If the lockdown takes longer time, the owners will deem it necessary to downsize their workforce. “It is not a good feeling when you know you may possibly lose your job, especially when you know that’s your major source of income. “Parents, by now ought to be making...
Newcastle fans turn on Ashley as club continues to charge season ticket costs
Sport

Newcastle fans turn on Ashley as club continues to charge season ticket costs

The club chief is accused of ignoring the request from fan groups to stall payment of 2020-1 tickets amid the current uncertainty Newcastle United owner Mike Ashley has seen his conduct during the coronavirus pandemic questioned again - this time over the club's policy regarding season ticket charges. On Wednesday, Magpies fans discovered that payments destined for 2020-1 season tickets had been taken from their accounts via direct debit. In some cases the charge for the entire season was removed, more than £500, in spite of the fact that the current season has been halted due to the pandemic and no official word has been released on when it will restart - or how this will affect proceedings in 2020-1. The decision to charge fans, moreover, comes at a time when due to the dis...
We Are Almost Ready To Replace You – Huawei Warns Google
Business

We Are Almost Ready To Replace You – Huawei Warns Google

Does Huawei really have a Google alternative that it is about to unleash? It seems we may be about to find out. One of the company’s execs has reportedly claimed that replacements for Google apps, including mail, messaging, maps and payments, as well as key underlying services will be ready soon. This follows other claims last week that the forthcoming flagship, the P40, which is due to launch in March, will ship with the company’s Google replacement services onboard. Nothing is yet confirmed, but speculation is rife ahead of the company’s 2020 product launches. The latest claims come from Huawei’s consumer head in India, Charles Peng, who was quoted in the country’s Economic Times on December 24 saying that "we have our own HMS and are trying to build a mobile ecosystem. Most of the key ...
Nobody should pay N50 charges on POS transactions – Central Bank Of Nigeria
News

Nobody should pay N50 charges on POS transactions – Central Bank Of Nigeria

The Central Bank of Nigeria (CBN) has clarified the issue of payments of N50 charges by merchants who use Point of Sale (POS) machines for cashless transactions, insisting that nobody should pay extra on goods and services. The CBN explained 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. Speaking on Channels Television’s Business Morning programme, the CBN Director of Payment System Management, Musa Jimoh, said the apex bank issued a circular and merchants have misinterpreted the directive. “Stamp duty has been misinterpreted, our circular that talks about merchants paying stamp duties according to the law do not say that the stamp duty should be paid by the consumer; that is a misrepr...
Nigerians can’t get US visa appointment dates despite payments
News

Nigerians can’t get US visa appointment dates despite payments

Nigerians applying for visas to the United States are currently in a fix as they cannot seem to get appointment dates for interviews, The PUNCH understands. This is despite the payment of visa fees and other charges which range from N58,000 to N200,000. The United States Embassy has yet to respond to our enquiries. Depending on the class of visa, the cost ranges between $160, $190 and $265; while the exchange rate published on the US Embassy website is N370 to the dollar, which is higher than the Central Bank of Nigeria’s rate of N306/$1, and the black market rate of N363/$1. Student visa applicants are also made to pay a separate $350 “service fee.” A visit to the website of the US embassy by The PUNCH on Tuesday revealed that applicants who wish to apply for...
‘Boko Haram has Gone Beyond FG’s capacity’ – Olusegun Obasanjo
News

‘Boko Haram has Gone Beyond FG’s capacity’ – Olusegun Obasanjo

Former President Olusegun Obasanjo has spoken on the high level of insecurity in the country, stating that the Federal Government alone cannot tackle the menace. Speaking at the second session of the seventh Synod of the Anglican Communion, Oleh Diocese, in the Isoko South Local Government Area of Delta State, Obasanjo called for greater collaborating among several African governments in tackling terrorism. “Intelligence was poor and governments embarked on games of denials while paying ransoms which strengthened the insurgents and yet governments denied payment of ransoms. Today, the security issue has gone beyond the wit and capacity of Nigerian government or even West African governments,” he stated. According to him, insecurity must be taken seriously at all levels and be ...
Obasanjo Reveals Who Govt Must Contact On Security Issues
News

Obasanjo Reveals Who Govt Must Contact On Security Issues

Former President, Chief Olusegun Obasanjo on Saturday warned that every insecurity situation in Nigeria must be taken seriously and be addressed at once without favoritism or cuddling. He handed the warning at the 2nd session of the Synod held at the Cathedral Church of St.Paul’s Anglican Church, Oleh in Isoko South Local Government Area of Delta State. Obasanjo, who spoke on the topic, “Mobilizing Nigeria’s human& natural resources for national development and stability” also said both Boko Haram and herdsmen acts of violence were not treated as they should at the beginning. According to him, “They have both incubated and developed beyond what Nigeria can handle alone. They are now combined and internationalized with ISIS in control. “It is no longer an issue of lack of ed...
Governor El-Rufai Gives Political Appointees April 30th Ultimatum to Resign
Politics

Governor El-Rufai Gives Political Appointees April 30th Ultimatum to Resign

Kaduna State Governor, Nasir El-Rufai, has given political appointees till April 30, 2019, to resign from office. A statement issued by the spokesman for the governor, Samuel Aruwan, says this to enable the governor to commence the selection of his new cabinet team for his second term in the office which commences on May 29. According to the directive, each notice of resignation must be submitted along with a handover note, signed by the political appointee on behalf of the MDA or office to which he or she had been appointed, and should be addressed to the Principal Private Secretary to the governor. Those affected by the directive include Commissioners in the State Executive Council, All Permanent Secretaries, Special Advisers, Director...
Abducted Lebanese Worker Killed in Kano
News

Abducted Lebanese Worker Killed in Kano

A kidnapped Lebanese construction engineer has been found dead in the bush in northwest Nigeria, a police spokesman said Friday. His body was found by locals near Yansango village on the outskirts of the city of Kano on Thursday, said Abdullahi Haruna, of Kano police. “The body of the expatriate engineer was discovered by villagers in the bush and the police were notified,” he told AFP. “He was confirmed dead at Murtala Mohammed Specialist Hospital, where the body was taken for autopsy.” Haruna, who said an investigation was under way, did not say whether the kidnappers had made any ransom demand. Four gunmen abducted the Lebanese at a road construction site in Kano on Tuesday morning, in an attack that left one construction worker dead and another injured. The engi...
Police Confirm Bandits Killed 16 Personnel in Zamfara
News

Police Confirm Bandits Killed 16 Personnel in Zamfara

Police on Wednesday confirmed they lost 16 of their personnel when they raided the hideout of bandits and killed several of them in the process. Only few days ago the police refuted report that 50 of their men were killed during the raid. They initially said only one of their personnel was killed while another who sustained injury later died on Monday bringing the figures to 2. However in a statement issued by Zamfara State Police Public Relations Officer, SP Mohammed Shehu, the police disclosed that they lost 16 men while 20 others were rescued alive from bandits. “The search and rescue operations embarked on by the Police Joint Intervention Force to rescue the missing Police Personnel after the 29th November, 2018, onslaught on the armed bandits in which 104 armed bandits were...
Tyrese Gibson’s Ex-wife Refuses To Work,Says ‘Living Life’ Is Her Job
Uncategorized

Tyrese Gibson’s Ex-wife Refuses To Work,Says ‘Living Life’ Is Her Job

Tyrese Gibson’s ex wife Norma Gibson’ lifestyle is seriously drilling a huge hole in his pocked as she refused to get a job with the insistence that living the good life is her job. The court-ordered child support deal between the exes do mandate that Norma must work to become self-sufficient, but she isn’t doing so, according to legal documents obtained by TMZ. Gibson’s attorneys asked Norma at a deposition what she was doing on August 21 that required seven hours of childcare support, with Norma responding she was busy, ‘living life.’ Norma also added, ‘I am working. I am working on my book. I am working on my life. I am running errands at home.’ Attorneys for Gibson, 39, believe she feels no obligation to find work and start contributing to raising their daughter Shayla, 11. ...
FG Begins New TSA Tariff Regime November 1
News

FG Begins New TSA Tariff Regime November 1

Ahmed Idris The federal government will on November 1, 2018, introduce a new Treasury Single Account (TSA) tariff regime, to ensure that the service charge of all payments made to government agencies will be borne by the payer. Under the new tariff regime, the service charge on all payment to its Ministries, Departments and Agencies (MDAs), would be borne by the payer. This development was contained in a statement issued by the office of the Accountant General of the Federation (AGF), Ahmed Idris, which was the outcome of a stakeholders’ sensitisation forum on TSA, which held in Abuja on Tuesday. “In line with the global best practices and amidst dwindling revenues, the federal government has approved a new Treasury Single Account tariff model which mandates that the servic...
Kogi Govt Seals MTN, Airtel’s Offices, Others over Unpaid N470m Tax
News

Kogi Govt Seals MTN, Airtel’s Offices, Others over Unpaid N470m Tax

  The facilities of MTN Nigeria, Airtel, Forte Oil and Bank of Agriculture have been sealed off by Kogi State Internal Revenue Service over their alleged refusal to pay N470 million tax to the state government. The Director in charge of Legal Services and Enforcement at the agency, Mr. Jamil Isah, who led his team yesterday to seal off the critical facilities of the two telecom service providers at Mount Patti, Obajana and other places in Lokoja, disclosed that Airtel owed over N321 million while MTN also refused to meet its obligation of over N140 million to Kogi State Government. He added that Forte Oil and Bank of Agriculture are owing N5 million and N3 million, respectively. According to him “For quite some time , we have diligently approached the two telecom service...
FG Demands Fresh $2bn Tax Arrears From MTN
News

FG Demands Fresh $2bn Tax Arrears From MTN

The Federal Government is asking MTN Nigeria to pay fresh N2bn tax arrears on imported equipment and payments to suppliers. It was gathered that the Attorney General of the Federation, Abubakar Malami, in a letter to the company, said the tax arrears dated back to 10 years. “The Attorney General notified MTN that his office made a high-level calculation that MTN Nigeria should have paid approximately $2bn in taxes relating to the importation of foreign equipment and payments to foreign suppliers over the last 10 years,” a statement signed by the Public Relations Manager, MTN Nigeria Limited, Funso Aina, stated on Tuesday. This fresh demand is coming barely one week after the Central Bank of Nigeria asked the telecommunication company and its bankers to repatriate $8.1bn it all...
Federal Government  offers 2 savings bonds at 10.48%, 11.48%
News

Federal Government offers 2 savings bonds at 10.48%, 11.48%

The Federal Government on Monday offered for a subscription a two-year savings bond at 10.48 percent and a three-year savings bond at 11.48 percent, the Debt Management Office (DMO) has said. According to the offering circular on the DMO website, the two-year bond will be due in July 2020 while the three-year bond will be due in July 2021. It, however, did not state how much was offered for the bonds, but stated that the maximum subscription was N50 million at N1, 000 per unit, subject to minimum subscription of N5, 000 and in multiples of N1, 000. The DMO said the bonds were fully backed by the full faith and credit of the federal government, with quarterly coupon payments to bondholders. The savings bond issuance is expected to help finance the nation’s budget deficit. It...
The Legal Considerations Of Running A Fintech Startup In Nigeria
News

The Legal Considerations Of Running A Fintech Startup In Nigeria

The core business of the FinTech sector revolves around financial services which are, as such, regulated activities. Generally, it is common for FinTech startups to enter into relationships with existing operators within the financial industry by way of service level agreements or technical partnerships which, amongst other benefits, allows these startups to deliver their services under the partner/client financial institution’s existing licence. However the alternative method is for a startup to operate on its own steam by meeting the requirements to obtain the requisite licences although this method requires significant capital outlay. As such, FinTech startups that are seeking to exploit the significant market opportunities in Nigeria are bound to run into several regulatory compl...
Don’t Destroy NIA, Nigeria Can’t Survive Without It – Horsefall, Pioneer DG NIA
News

Don’t Destroy NIA, Nigeria Can’t Survive Without It – Horsefall, Pioneer DG NIA

Chief Albert Horsefall is the founding Director General of the National Intelligence Agency, NIA. He was also Director General of the State Security Service, SSS. In this exclusive interview, the former security czar, warned strongly against developing activities around the NIA, saying they were capable of completely ruining the intelligence agency. He said he had heard that some military men whether retired or serving had been posted to take over some departments of the NIA, stressing this move would ridicule this distinct security body before the international community. Albert also said he got feelers that some auditors had been deployed to look at the books of the NIA, noting that the security agency do not operate like other conventional organisations. He pleaded f...
Venezuela Is Down To Its Last $10 Billion!
News

Venezuela Is Down To Its Last $10 Billion!

I think we should be grateful that Nigeria's case is not this bad. Venezuela's foreign reserves down to only 10billion dollars! Caracas is running out of cash. Venezuela only has $10.5 billion in foreign reserves left, according to its most recent central bank data. For rest of the year, Venezuela owes roughly $7.2 billion in outstanding debt payments. In 2011, Venezuela had roughly $30 billion in reserves. In 2015, it had $20 billion. The trend can't persist much longer, but it's hard to know exactly when Venezuela will run completely out of cash. Powered by SmartAsset.com SMARTASSET.COM "The question is: Where is the floor?" says Siobhan Morden, head of Latin America fixed income strategy at Nomura Holdings. "If oil prices stagnate and foreign reserves reach zero, then the cl...
Zenith Bank Customers Can’t Withdraw Cash Or Make Payments. “Network Is Down”
News

Zenith Bank Customers Can’t Withdraw Cash Or Make Payments. “Network Is Down”

What Is Wrong With Zenith Bank Nationwide I will like to draw attention of the general public on the deliberate wickedness of the management of zenith bank to her customers.Since Friday the bank can not pay anyone and up till today the same excuses is being given. Currently i have been to over 10 branches of zenith bank and the same reason is given.-NETWORK IS DOWN. I wonder why a sane country like Nigeria can operate a bank like zenith and for 5 consecutive days customers can not access their accounts. The hardship is much in the country and you guys have decided to add to it... I was opportune to speak with some of their staff and i realised that this issue is a planned one.Many of them complained of the ill treatment and lack of motivation,many have been sack,others are under...