Stamp Duty: “Sonny Okosun Speaks From The Grave” – Nigerians React

The voice of Sonny Okosun has been figuratively heard again, as Nigerians have been forced to ask “Which way Nigeria?” in reaction to the recently imposed stamp duty by the Federal government.

According to injunctions to be enforced by the Central Bank of Nigeria, bank customers are to be charged N50 stamp duty for money received into their accounts via electronic transfer, cash and cheques. The directive is to aid salvage the decline in the nation’s economy.

READ ALSO: Free Fall Of Naira: Senate Summons CBN Governor

It is in reaction to this imposition that Nigerians took to socio-media and online communities to debate, dialogue and share their views on the new injunction.

Below are the view views of Nigerians regarding the newly introduced duty stamp.

One user simple named Emperor said wrote on Nairaland:  “Speechless…In Sony Okosun’s voice (which way Nigeria?)”

Another user went on to say: “So if I do bank transactions 50 times in a month, it is 50 times 50 which equals 2500 gone just like that?”

The unnamed user further said: “I have never seen a reasonable government that turns to stealing from the masses to generate income. Continue, I can’t wait for 2019.”

“It’s very bad… tho d country has to generate funds from any sector to balance fall of oil prices but 50naira per transaction is too much,” Cried another participant on the forum.”

“If one has to work hard,  pay taxes and levies, and the government still takes your money just because you decided to put it in the bank: then it is clear that the government is helpless and clueless on how to diversify the economy,” Bimpe said.

There were more comments from the online community, most of those who commented were of the opinion that having to pay extra duties after paying taxes, is a rip off.

One user know solely as Nkowaputa wrote a brief statement in which he compared the current administration to the immediate passed government led by Goodluck Ebele Jonathan.

READ ALSO: Antigraft: “Buhari May Run Into Trouble” – Fasheun

The statement partly reads: “They said if PDP continues in office, Nigeria will sink, gullible Nigerians believed them. Now, they are in office and all we hear is that Nigeria will still sink after all. We hear that the rot of the past administration cannot be corrected overnight.”

Facebook users were not left out, as they also had their say on the highly controversial issue.

One Sanni Tawhid Babatunde Hasbunnallahu said: “When the prices of crude oil was high leading to excess funds to the Nigerian government; our so-called leaders, did nothing other than to squandered these funds under the guise of capital expenditure which an average Nigerian cannot even see.

“They did not diversify the monolithic economy; thinking that the boom will last forever!

Anonyingly, we were being fooled by our former-President, Goodluck Ebele Jonathan and his-cohorts that our economy is the best performing in Africa couple of years back! How can we be this when we are near-oil dependent?”

He went on to advise that the federal government keeps blocking the loopholes (which enable looters to lot our national treasury, slash-down government spendings on travelings, eradicate spendings on frivolities, reduce number of aides, above all, increase VAT). “God bless Nigeria,” Sanni concluded.

Apostle Chetachukwu Adimoha, replied Sanni’s comments, saying: “To me, it is annoying to hear Goodluck Janathan; what about OBJ, Buhari, Babangida and others?,” he questioned.

Adding: “There are many past leaders, let us not be one sided when pointing, point at all not only Goodluck otherwise you all also falls into the same hate speech”

READ ALSO: Antigraft: “Buhari May Run Into Trouble” – Fasheun

“There were many that ruled during the time oil was extra better than the time of GEJ; remember there was a crisis during his time; let us leave Goodluck alone and talk of those that used the money for Arms deal: and as well, there no need talking about them since they are already before the court,” he concluded.

Some were of the opinion that oil revenue is down and government needs to get going. They were of the opinion that the newly introduced exercise is not too bad if it is well operated.

Twitter users also learnt their voice to the argument one of the most prominent tweet was that of one Jerry Eugene who was of the opinion that the exercise is a CBN scam. Eugene urged Nigerians to rise up against the imposition. Here are his tweets below.

In summary, the CBN has connived with the banks to exploit Nigerians while still providing epileptic services #CBNSCAM

— Jerry (@JerryEugene) August 14, 2014

I implore my fellow Nigerians to stand up against this new fraudulent charge. Our voice is our power, our unity is our strength. #CBNSCAM

— Jerry (@JerryEugene) August 14, 2014

 

The Nigerian economy has continued in a downward movement , the Naira on Wednesday, January 20 continued to depreciate on the parallel market amid mixed recent reactions to the forex policy of the CBN.

According to reports by the The News Agency of Nigeria (NAN), the naira lost N2 to exchange at N297 to the dollar, from N295 it traded at on Tuesday, January 19.

The new CBN N50 stamp duty is expected to increase the federal government revenue base in the region of billions of naira. An estimated N1 billion is expected to be made from cheque based transactions, excluding the revenue which will be made via electronic funds transfer, instant payments and cash deposits.

Meanwhile, in its bid to diversify and stabilize the Nigerian economy, the federal government may have found a new way of funding the 2016 budget. The new ray of hope for the Buhari-led administration streams from the signing of a Sukuk Bond.

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