N-Power List Of Selected Applicants Is Out, Check yours.

<div dir="ltr" style="text-align: left;" trbidi="on"> <div xmlns="http://www.w3.org/1999/xhtml"> Go to your npower website portal then type your phone number, my mum's name was there.(Screenshot)<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj4dG11_vluxCfunt5ay7l_3f4qpTSEm_52dJUxTzej9bsqHcPJIxB7oj_Les-fRN8a9AE9Whe3hi-2HBI5oD5msb42gT73Vsr_Fh_my1yoMTrZ88Tzx8JK8JSVNZeVPtTLzGCNA7Fl3Mr2/s2560/%25255BUNSET%25255D.png" onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj4dG11_vluxCfunt5ay7l_3f4qpTSEm_52dJUxTzej9bsqHcPJIxB7oj_Les-fRN8a9AE9Whe3hi-2HBI5oD5msb42gT73Vsr_Fh_my1yoMTrZ88Tzx8JK8JSVNZeVPtTLzGCNA7Fl3Mr2/s640/%25255BUNSET%25255D.png" style="cursor: hand; cursor: pointer; display: block; margin: 0px auto 10px; text-align: center;" /></a><span id="goog_1272593482"></span><span id="goog_1272593483"></span><a href="https://www.blogger.com/"></a><br /> <a href="http://adf.ly/1fwJmI">Click here to check yours.</a>(Skip ads to continue)<br /> <br /></div> </div>

N-Power List Of Selected Applicants Is Out, Check yours.

Go to your npower website portal then type your phone number, my mum's name was there.(Screenshot) Click here to check yours. (Skip a...

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Dollar scarcity: Parents of overseas students weep in banks

<div xmlns='http://www.w3.org/1999/xhtml'><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEios8dKSqqVdwhD4RHn_iX4irkJ91vhtrXKdEsiW4awxK8jnQ0Gvw-5TY6URKEQUXvRtkZVCGgcsSL9u0QER5V45-19WjFXVIaMDvivoqsYENtnLcx7XkmcRb2oAR2iHiIrP-lD5aLERGRq/s2560/%25255BUNSET%25255D.jpg" onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEios8dKSqqVdwhD4RHn_iX4irkJ91vhtrXKdEsiW4awxK8jnQ0Gvw-5TY6URKEQUXvRtkZVCGgcsSL9u0QER5V45-19WjFXVIaMDvivoqsYENtnLcx7XkmcRb2oAR2iHiIrP-lD5aLERGRq/s640/%25255BUNSET%25255D.jpg" style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;"/></a>CBN Governor, Godwin Emefiele<br/> <br/> <br/> <br/> <br/> Fisayo Falodi, Success Nwogu, Jesusegun Alagbe, Demola Olonilua and Armstrong Bakam<br/> <br/> As dollar scarcity worsens in Nigeria, parents who have children schooling abroad have taken their frustrations to banks, with some of them weeping openly, as Saturday PUNCH observed.<br/> <br/> Investigations by our correspondents revealed that the frustrations by some parents who cannot access forex to send to their children abroad have brought out their emotional sides, while affected students have been crying out for help in foreign lands.<br/> <br/> When one of our correspondents visited some banks along Muritala Muhammed Way, Unity Road and Taiwo Road in Ilorin, the Kwara State capital, on Wednesday and Thursday, some bank customers, who were there to buy dollars, expressed disappointments at the scarcity of the currency.<br/> <br/> One of the customers, Alhaja Salamatu Ajibola, who practically broke down in tears, lamented that the education of her two children schooling in the United States had been threatened by the development.<br/> <br/> She added that her children had been going without food due to her inability to send them money for their upkeep.<br/> <br/> Ajibola said that it had been difficult for her to send her children dollars for their personal and educational needs. She said she had visited one of the banks several times, hoping to send dollars to her children, only to be told that the currency was insufficient to meet customers’ demands.<br/> <br/> Another tearful parent, who spoke to Saturday PUNCH on the condition of anonymity, in a first generation bank in Bauchi State, said it had become impossible for him to meet the financial needs of his children schooling abroad.<br/> <br/> She said she was seeking other ways of sending money abroad due to the difficulty she was facing in getting dollars to send to her children.<br/> <br/> “Our children abroad are crying and we parents are also crying,” she said.<br/> <br/> “They are confused and we are also confused because we can’t send money to them and they can’t receive. They are in misery, hunger and depression.<br/> <br/> “They can’t even feed well because they can’t get money for their upkeep.”<br/> <br/> She, therefore, called on the government to “create an escape route so that children will not continue to suffer.”<br/> <br/> Also, Mr. Jimoh Abdulganiyu, whose son is studying medicine in Ukraine, said he could not get dollars, even at the black market, to send to him.<br/> <br/> Abdulganiyu said his son was given a warning letter by the school authorities over delay in payment of accommodation fees and he risks being asked to vacate the dormitory soon.<br/> <br/> He expressed fears of the possibility of buying fake dollars because of the pressure of getting dollars, which has been pushing parents to the parallel market.<br/> <br/> He said, “Sometimes, I would get to the bank by 6.40am, before the official opening hour, to stand a good chance of getting dollars through the Western Union or Money Gram.<br/> <br/> “And this does not mean that I would automatically get the dollars, I still have to lobby before I could get it. Even at that, there is a limit to the amount I can get.”<br/> <br/> One of our correspondents, who visited two commercial banks in the Sabo, Yaba area of Lagos on Thursday, observed that there were no dollars for sale. Sabo is a black market hub for forex activities in Lagos.<br/> <br/> There, a 65-year-old man, Mr. Obafemi Solomon, who also expressed frustration with the situation, struggled to fight back tears as he narrated his ordeal.<br/> <br/> Solomon said he was indebted to some of his friends in the United States, where his daughter was schooling.<br/> <br/> Solomon said his friends had had to bail him out of the financial problem because he felt it was unwise to exchange naira for dollars at the present exchange rate.<br/> <br/> He said, “What I am doing right now is to beg my friends who are in the US to help me pay for my daughter’s tuition. It does not make any sense to change naira for dollars and send to her. There is even no dollar to buy.”<br/> <br/> A pensioner, Mr. Olu Ajibade, who resides in Ekiti, also shared his plight, saying things had not been this tough in the past four years that his son had been in Middlesex University, London.<br/> <br/> Calling for the liberalisation of the foreign exchange market, Ajibade said, “Now we rely on the black market and the forex rate is very high. If you don’t go to them then you are left to face the bank and they have so many rules you have to oblige to before you can get money from them.<br/> <br/> “You will have to fill so many forms, get a letter from the school and go through so many rigorous processes. With that, it is not even guaranteed that you would get money from them. Honestly, it is not easy at all. Unfortunately, there are no other alternatives. The black market that could have been an alternative is not properly funded. The truth is that if you want to buy £3,000 in the black market, they tell you that they don’t have more than £800. For instance, we needed to pay school fees of about £10,000 but all we could do was pay half because of the scarcity of foreign currency.”<br/> <br/> A Nigerian student studying in a US university, Adebayo Kabiru, told Saturday PUNCH that he would have gone bankrupt if not for the menial jobs he was doing.<br/> <br/> In a telephone interview with one of our correspondents, Kabiru said, “My parents have not been able to send me money since January. At a point, I got frustrated, but I had to do something. So now, I do some menial jobs to pay for my upkeep.”<br/> <br/> Also, a student studying in Russia, who spoke with Saturday PUNCH, said she was about to be deported because her visa had expired and her parents could not send her money to renew it.<br/> <br/> She said, “My father has been trying to send me money for the past two weeks for me to settle my visa problem and other things, but has been unable to do so. I am about to be deported and when that happens, I will lose the opportunity of rounding off my last session here in Russia.”<br/> <br/> Simon Uwem, a student studying for his Master’s degree at a university in Indiana, US, revealed that Nigerian students abroad have been having rough times.<br/> <br/> He said, “I have been able to survive because I have a research position in school and I get paid very well. I was hired by the school for the job. The truth is that if you are intelligent, you will survive.<br/> <br/> “But it has been so tough for some students here. Asking your parents for $1,000 means they need to look for N400,000. Some students don’t even get to hear from their parents any longer. They have resorted to doing menial jobs or marrying Akata (American citizens) here.<br/> <br/> “A professor recently spoke to me about getting more foreign students from Africa and I told him that finance had become a challenge even if such students get scholarships. A textbook here costs up to $200. It has been quite tough.”<br/> <br/> <br/> <br/> <b>Source;</b> <b>PUNCH</b></div>

Dollar scarcity: Parents of overseas students weep in banks

CBN Governor, Godwin Emefiele Fisayo Falodi, Success Nwogu, Jesusegun Alagbe, Demola Olonilua and Armstrong Bakam As dollar scarcity ...

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Federal Government Ends Kerosene Subsidy, Price Per Litre Moves from N50 to N83

<div xmlns='http://www.w3.org/1999/xhtml'><a href="https://lh3.googleusercontent.com/-ublpjTUCycI/VqXLRbzKEyI/AAAAAAAAGsE/urcVk3DiE5g/s2560/%25255BUNSET%25255D.jpg" onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}"><img border="0" src="https://lh3.googleusercontent.com/-ublpjTUCycI/VqXLRbzKEyI/AAAAAAAAGsE/urcVk3DiE5g/s350/%25255BUNSET%25255D.jpg" style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;"/></a><br/> During the weekend, the Federal Government increased the price of kerosene from N50 to N83 per litre and is due to take effect. However, this shows the removal of subsidy which was previously placed on Kerosene believed to be a commodity mostly used by low income earners.<br/> <br/> The Petroleum Products Pricing Regulatory Agency, PPPRA, in its product pricing template released over the weekend, however, stated that the N83 per litre price applies only to the Nigerian National Petroleum Corporation (NNPC), meaning that other petrol stations and dealers can sell higher than the stipulated amount.</div>

Federal Government Ends Kerosene Subsidy, Price Per Litre Moves from N50 to N83

During the weekend, the Federal Government increased the price of kerosene from N50 to N83 per litre and is due to take effect. However, th...

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Nigerians to pay more tax???

<div xmlns='http://www.w3.org/1999/xhtml'><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiEwROYDSUX6Nb0_xgkNCSWH5qOPyfbxVpcW8_WZPTC-R1tYc7pkcTahDSWkPWaQqYgGlzX5cUoJzSjUgH0ydF6jk93GE_P9tuTVEA17OwvpMRk8y8JjbiDm-5RREU0qOpZI-qh74MVdRB-/s2560/%25255BUNSET%25255D.jpg" onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiEwROYDSUX6Nb0_xgkNCSWH5qOPyfbxVpcW8_WZPTC-R1tYc7pkcTahDSWkPWaQqYgGlzX5cUoJzSjUgH0ydF6jk93GE_P9tuTVEA17OwvpMRk8y8JjbiDm-5RREU0qOpZI-qh74MVdRB-/s640/%25255BUNSET%25255D.jpg" style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;"/></a><br/> Minister of Finance, Mrs. Kemi Adeosun<br/> <br/> <br/> <br/> <br/> <br/> Against the backdrop of the economic crisis plaguing Nigeria amid falling global oil prices, the Federal Government is considering changes to the nation’s tax regime in a bid to shore up dwindling revenue.<br/> <br/> There are indications that the government will increase Value Added Tax, as recently suggested by the International Monetary Fund, whose Managing Director, Ms. Christine Lagarde, visited the country early this month.<br/> <br/> Economic and financial experts have, however, said the move to increase VAT would put further pressure on Nigerians, as it would cause increase in the prices of goods and services, among other implications.<br/> <br/> VAT is a consumption tax payable on the goods and service consumed by any person, whether government agencies, business organisations or individuals. It is currently levied at the rate of five per cent in the country.<br/> <br/> <br/> <br/> The sharp drop in crude oil revenues, which provide 95 per cent of the country’s foreign earnings, has led to significant depletion of the nation’s foreign reserves.<br/> <br/> Oil prices have fallen in the last few days to their lowest levels since 2003, trading about $10 lower than the oil price benchmark of $38 proposed by President Muhammadu Buhari for this year’s budget. Oil prices staged a rebound on Friday, trading around $32 per barrel on Saturday.<br/> <br/> The Minister of Finance, Mrs. Kemi Adeosun, has said the Federal Government plans to borrow up to $5bn from multiple sources, including the Eurobond market, to plug its budget deficit.<br/> <br/> Buhari had in December presented a total budget size of N6.08tn, with a deficit of N2.22tn to be financed by both domestic and foreign borrowings of N1.84tn.<br/> <br/> He put the revenue projection for the year at N3.86tn, adding that over the medium-term, the government expected to increase revenues and reduce overheads, to bring the fiscal deficit down to 1.3 per cent of Gross Domestic Product by 2018.<br/> <br/> Vice President Yemi Osinbajo, who said changes to taxation were being considered, told CNBC in a television interview, “We are looking at increasing our tax coverage.<br/> <br/> He added, “VAT, for instance — we have been doing just about 20 per cent coverage. We think that just by increasing coverage, we could do much more, and so we could earn more in terms of local resources,” he said.<br/> <br/> Increasing VAT from 5 per cent, among the world’s lowest VAT rates, and broadening the tax base were among suggestions put forward by the IMF boss during her visit.<br/> <br/> During her visit, Lagarde also said the IMF did not support foreign exchange restrictions.<br/> <br/> The Central Bank of Nigeria, whose monetary policy committee will meet on Monday and Tuesday, imposed forex restrictions last year aimed at conserving foreign exchange reserves and there have been calls from investors for these to be eased.<br/> <br/> “We know that the central bank will just have to do the right thing at this time. The central bank has told us, and it was announced even in the president’s budget speech, that they intend to take a flexible approach and deploy whatever tools are necessary to ensure that we stay competitive,” Osinbajo had said.<br/> <br/> A Professor of Financial Economics at the University of Uyo, Akwa Ibom State, Leo Ukpong, described the move to increase taxes as ill-timed, saying any increase in VAT would lead to declines in consumption and investment in the country.<br/> <br/> He said, “It is not that it is bad to increase taxes; what is bad is increasing it at the wrong time. When the economy is going through recession; when we are not producing; when unemployment is high, that is not the time to raise any tax. In fact, the opposite is the case: it is a time you cut taxes so that you can stimulate consumption and investment.<br/> <br/> “Increase in VAT is going to destroy the economy more. Consumption of goods and services will drop because you’re taking money away from people, and investment will drop. Overall, it is going to have negative effects on the economy, households and businesses.”<br/> <br/> The Head, Investment Research, Afrinvest West Africa Limited, Mr. Ayodeji Ebo, said the government should explore all avenues to ensure compliance as well as improve on its collection mechanism before considering increase in tax rates.<br/> <br/> He said, “Raising VAT will lead to increase in the price of goods and services; cost of production will go up as well as cost of goods. It is going to be telling on Nigerians in the interim. However, if this fund is channelled to proper use, the multiplier effects will cushion the impact of VAT on Nigerians<br/> <br/> “If we are able to get good roads, rail and power supply, these are some of the things that form the larger part of the cost of production — it is going to be a short-term pain to get a long-term gain.”<br/> <br/> Professor Sheriffdeen Tella of the Department of Economics, Olabisi Onabanjo University, said the government might want to consider increasing taxes in some areas and expand the tax net in some other areas to capture more people and organisations.<br/> <br/> He said, “There are a lot of people and organisations that are not paying tax, particularly in the informal sector. The government has to work out a way to capture the informal sector taxes.<br/> <br/> “It is not as if they want to impose taxes generally. Let us look at VAT, for example; there are some assets that can be regarded as luxury items. They can increase the tax regime on those assets. People hardly pay tax on wealth in this country. They need to capture those people (the wealthy).”<br/> <br/> According to Tella, government needs to raise funds to be able to execute projects and tax is a major thing in increasing internal revenue.<br/> <br/> “I think it is not tax changes that will further affect the common man. They can also reduce the tax paid by some levels of income-earners,” he added.<br/> <br/> A Partner and Head, Tax Regulatory and People Services, KPMG Nigeria, Mr. Victor Onyenkpa, said, “Given that oil is what it is today, tax is crucial in raising money, and the one that they have talked about is VAT, especially so that they want to increase the rate. The problem is that VAT, as we operate it in Nigeria, is a sale tax.<br/> <br/> “Increasing VAT, to my mind, is fine, to the extent that it is together with making companies have recoverable input VAT.”<br/> <br/> According to Lagarde, the new reality of low oil prices and low oil revenues means that the fiscal challenge facing government is no longer about how to divide the proceeds of Nigeria’s oil wealth, but what needs to be done so that Nigeria can deliver to its people the public services they deserve.<br/> <br/> She said, “This means that hard decisions will need to be taken on revenue, expenditure, debt, and investment going forward. My policy refrain is this: Act with resolve — by stepping up revenue mobilisation.”<br/> <br/> <br/> <br/> <b>Source:</b> The PUNCH</div>

Nigerians to pay more tax???

Minister of Finance, Mrs. Kemi Adeosun Against the backdrop of the economic crisis plaguing Nigeria amid falling global oil prices, t...

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