Do you remember the post I made a week ago talking about how the Central Bank of Nigeria instructed banks to levy 0.5% of every transfer that was made? This was meant to provide much-needed funds for cybersecurity. Apparently, there were criteria to be met and not every transfer would have been taxed.
Loans (both disbursements and repayments) won’t be taxed, also transferring money from one of your accounts to another of your account, even though it’s in a different bank will not be taxed either. And then, two people who hold accounts in the same bank can send money to each other without incurring the levy. These are all on top of my head, I don’t really know if there are more.
Anyway, this was what we were all going to face in the coming week because the bill was said to take effect this May. However, our dear President gave the order to CBN to suspend the bill. So, it’s been suspended until further notice. According to the reports I’ve heard, he understands that the economy is hard and taking the little people are managing won’t be good in any way.
Well, we don’t have that sword dangling over our heads anymore. I guess it’s safe to say that we can move on. All over the country, as things are getting tougher and tougher, state government are upping their games. I know of some states that have taken to increasing the salaries of their workers. Within the past month alone, several states have made significant increases.
I can’t prove any of this though, I don’t know if it was all a PR move or the civil servants really did get the raise they obviously deserve. Because so far, I’m yet to see anyone come online to talk about it. So, is it all cap? Or is it fact? I guess only time will tell.
And while we’re still trying to come to grips with this harsh reality that we’ve found ourselves in, different factors are still working hard to make sure that things don’t get easier, even if it’s a little bit. In some parts of the country, they’re experiencing fuel scarcity. Some people say that it has to do with the fact that we’re all waiting for Dangote’s refinery to become active, and somehow the marketers are hoarding the fuel they have because yada yada yada!!! I don’t really get the full gist of it all.
All I do get is the fact that within the past week, the price of fuel here has also gone up! We’re buying it at almost N900 for a liter. And as we all know, once the price of fuel goes up, others will follow suit. From transportation to feeding and even other services. The fuel directly affects all of them, and that’s why many of us hate it when the price of fuel goes up like this because it only serves to make life harder for everyone.
I don’t really know where this country is going, but I guess all I can do is just be on for the ride. Our governments will keep making policies that show that they don’t really care much about us, but we’ll keep surviving. No matter what, we’ll be fine.
This is a sad reality. Here in Brazil, things are not going well either. I am impressed by the incapacity that the government has, and regardless of the country, it's always the same problems. No company hires bad employees, but we always see politicians devoid of capacity in power making foolish decisions. Increasing the price of fuels is something that everyone knows affects the entire economy negatively, but still, they don't plan anything to solve this problem, and in the end, it's the people who pay the bill.
Yeah... always the same problem. They just do these things without any concern to how they affect us. It's just sad.
No one knows where the country is going to and the situation of things is not even getting better
I just pray that God gives us enough money so fat we won’t be very much affected by the crisis happening in the country
As in ehn... because it's becoming way too unbearable at this point ooo.
We literally don't even know what the country is turning too.
We really hope Nigeria becomes a better country soonest.
The increase in fuel is really affecting things badly.
We hope for a better country soonest ❤️
I'm just tired, that's for sure.
Everyone is
It's furstrating sometimes
Anytime I planning to go out alone ehh,that thought alone of going out is #5,000😂.
Everything is just somehow
In a country that's blessed with so much resources.
I mean???😂🤧
It's well though 😂
Like you, I also don't know where my country is going and day by day the situation is getting worse. Prices of everything have been increased and it has become a regular thing for us. But the good thing is the government didn't make any new rules in the banking system.
As in ehn... when you think about it, you really can't see the point of the inflation. Because these are issues that can easily be fixed.
It is exactly like this, the conditions of every country are getting worse, inflation is getting very high within every country, it is impossible for the people living there to be happy.
We really need to do better as a people.