Point-of-Sale (PoS) operators across Nigeria have raised their withdrawal fees, charging between ₦150 to ₦200 for every ₦5,000 transaction, up from the previous rate of ₦100.

The operators attribute this increase to the ₦50 Electronic Money Transfer Levy (EMTL) imposed by the Federal Inland Revenue Service (FIRS) on financial technology (fintech) companies.

In September, fintech firms announced their intention to apply the ₦50 levy on transactions of ₦10,000 and above, citing compliance with FIRS regulations.

This levy is a one-time charge on electronic transfers or receipts of ₦10,000 or more into both personal and business accounts via any commercial bank or financial institution.

The federal government officially enforced the policy on December 1, compelling major fintech platforms like OPay, Moniepoint, Kuda, and others to implement the charge.

Why the Hike in PoS Charges?

Speaking to TheCable, Sarafadeen Fasasi, National President of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), confirmed that the levy had triggered an adjustment in PoS transaction fees.

“Yes, it is because of the electronic levy. We have to transfer the cost of the charges being imposed. It started immediately after FIRS implemented the directive for the ₦50 charge,” Fasasi explained.

Clarifying the ‘Stamp Duty’ Policy

Fasasi further noted that the stamp duty itself is not a new policy but that its implementation had been inconsistent. Previously, only bank-affiliated PoS agents were charged the ₦50 levy.

However, the policy has now been extended to fintech companies, which control about 70% of the PoS market.

Fasasi stated, “Stamp duty is not new but the implementation has been partial. Only agents that are of banks origin… you know we have two types of agents. There are agents that are deployed by commercial banks, the UBA, Zenith and we have those that are of non-banks, that are of fintechs, like OPay, Moniepoint, Paga and Palmpay.

“Before now, only bank agents that are of bank origin are being charged N50 because the bank has implemented it for long. But now, the regulator has now extended it that whether you are fintech or anything, just go and charge that N50. So immediately they started… and you know they control the larger part of the agent space, about 70 percent. That is why it’s like a new policy.

“It is not a new policy but it’s because it is now being implemented by the majority of fintech. Then, the PoS agents have no choice than to also implement it immediately.”

The Lekki Central Mosque in Lagos State has taken down a controversial banner that stated, “Jesus Christ is Not God.”

Naija News reports that the message conveyed on the banner caused a series of mixed reactions on social media, with Christians, Muslims, and people of traditional beliefs sharing their thoughts.

These commentators strongly disapproved of the mosque’s management, calling on relevant authorities and stakeholders to take action.

See the image below:

Hours after backlash on the above, a community member named Tunde Alabi took to X to confirm its removal.

In a viral video clip, Alabi claimed to have visited the mosque on Wednesday evening to confirm the banner’s removal.

By removing the banner, the mosque’s administration appears to have responded to the considerable public outcry and criticism, acknowledging the banner’s perception as inflammatory and divisive.

In a video shared by an X user, Adeleke Opeyemi, the community source, Tunde Alabi, said the backlash pushed him to ask for the removal of the banner.

The video narrator said: “My name is Tunde Alabi. I am a member of the Lekki Muslim Community. I noticed a banner pasted in front of our mosque, causing some controversies. I sent a message to the mosque community and was told that it had been removed, so I came to confirm myself. As you can see, the one that was removed is supposed to be behind me.”

Alabi also expressed remorse for the controversies that followed the placement of the religious banner.

“I am not speaking on behalf of the mosque. I am speaking for myself. I am sorry for any inconvenience this might have caused. Today is the 18th of December,” he added.

Nigerian singer, Timi Dakolo, has reflected on his journey to becoming a professional musician.

The ‘Great Nation’ crooner explained that music for him was initially a hobby and not a career.

Featuring in a recent episode of the ‘On The Record’ podcast, Dakolo said he decided to do music professionally after winning the inaugural season of Idols West Africa in 2007. In his words:

“I still see myself as an accidental musician. Yeah, I used to sing in choir. I used to just like that I sang. The first idea of music was during morning devotion.

“Then, we started singing street songs. We used to have notebooks where we write songs and they were girls to impress. So music was not something I thought I would do professionally. It was after Idols that I decided to do music professionally.

“I said to myself, ‘Okay, we are here. Sometimes you meet your destiny on the road you take to avoid it.”

Versatile Nollywood actress Wumi Toriola has made a remarkable entry into cinema with her debut film, Queen Lateefah, which has shattered seven records at the Nigerian box office.

Toriola took to Instagram to celebrate the film’s achievements, listing its record-breaking milestones. Among the accolades, ‘Queen Lateefah’ is now recognized as the Highest Grossing Nollywood Release for a Non-Festive Period, Highest Opening Weekend for a Non-Holiday Season, 7th Highest Grossing Nollywood Film of All Time, and Highest Grossing September Release of All Time, among others.

The film grossed ₦365.4 million, breaking records in the Nollywood history.

In her message to fans, Wumi Toriola expressed deep gratitude for the support that propelled the movie to success. She wrote:

“Thank you to all the incredible Nigerians and Lateefanzz who made ‘Queen Lateefah’ a massive success during its cinema run,”

“This was all possible because of your unwavering support. Your love and dedication mean the world to us!”

Toriola credited her fans’ love and loyalty for the film’s success, adding that their turnout at cinemas helped ‘Queen Lateefah’ achieve unprecedented feats in the market.

Nollywood actress Etinosa Idemudia has sent social media into a frenzy as she unveils a new mystery man, announcing her latest relationship.

The actress, who made headlines in 2019 for revealing the end of her six-month marriage to Ighorosa, shared an exciting update with her fans on Instagram.

In a recent post, Etinosa introduced her mystery partner, sparking curiosity among her followers.

The post included a video in which the actress and a Caucasian man were seen in matching outfits, sharing a sweet moment as they posed for the camera and exchanged a gentle kiss.

“Please wish me well ❤️. I don carry my two legs enter new relationship.” the video’s caption read.

Fans and celebrities flooded the comment section with congratulatory messages, expressing excitement.

Veteran Nigerian actor Funsho Adeolu has showered his wife with emotional promises as the couple celebrates their 20th wedding anniversary.

Taking to his Instagram page, Adeolu shared a series of nostalgic photos and videos chronicling their journey together.

Reflecting on their two decades of marriage, he expressed gratitude for their memorable and adventure-filled relationship.

In a message, the movie actor who moved abroad some years ago described his wife as his “rock,” “best friend,” and “soulmate,” vowing to love and cherish her forever. Funsho Adeolu wrote:

“20 years? Wow! I am grateful to God for this memorable and adventurous journey filled with memories, moments, and milestones. Our bond grew stronger each year. My rock, my best friend, and my soulmate. Thank you for being my partner in every sense. I promise you a lifetime of love and a new beginning of fresh commitment. Hey, forever is the deal oo. Cheers to many more years together.”

The post garnered an outpouring of love and congratulatory messages from fans and colleagues alike.

Fellow actor Seilat commented, “Happy anniversary sir. I tap into this grace and to celebrate many more years in love and unity.”
Another colleague, Damilola Oni, added, “Congratulations Papa, Happy Anniversary.”

Fans also joined in the celebration. One fan, enemowevents, wrote, “Congratulations to you and your wife, Uncle Funsho! May Almighty continue to bless and uphold you both. You are a great role model. Continue basking in God’s grace!”

In a bid to provide relief for Nigerians ahead of the holiday season, Dangote Petroleum Refinery has announced a price reduction for its Premium Motor Spirit (PMS) product, lowering it to ₦899.50k per litre.

The announcement was made in a statement released on Thursday morning, highlighting the company’s commitment to easing the financial burden on citizens during the festive period.

The statement signed by the Group’s Chief Branding and Communications Officer, Anthony Chiejina, reads, “Africa’s first privately-owned oil refinery, which previously lowered the price to ₦970 per litre on November 24, has now announced a new price of ₦899.50 per litre. “

He added that the company also introduced a special offer to further benefit consumers.

Chiejina said, “In addition to the holiday discount, Dangote Petroleum Refinery is allowing consumers to purchase an additional litre of fuel on credit for every litre bought on a cash basis.

“To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at ₦899.50 per litre at our truck loading gantry or SPM. Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank.”

The refinery also expressed its gratitude to Nigerians for their continued support as the country enters the festive season.

Chiejina further emphasised the refinery’s commitment to ensuring Nigerians have access to premium quality petroleum products that are competitively priced, as well as environmentally and engine friendly.

He highlighted that the refinery’s operations mark the end of Nigeria being a dumping ground for substandard and ‘blended’ imported products, which have posed significant risks to human health, machinery, and the environment.

The Dangote Refinery, with a capacity of 650,000 barrels per day (BPD), is the largest single-train refinery in the world. It is fully capable of meeting 100% of Nigeria’s refined petroleum product requirements, with a surplus available for export.

Elder statesman and leader of the Ijaw nation, Chief Edwin Clark, has said that the only solution to the ongoing debates on the Tax Reform Bills of President Bola Tinubu, is the restructuring of the country.

Clark said the arguments made for and against the reforms will be addressed once the country was restructured and a new constitution was produced, or the 1963 Republican Constitution was adopted.

The former National Commissioner for Information made the assertion in a statement on the current debate on the reform bills, on Wednesday.

“Mr. President, the ongoing controversies around this tax reform, to me, highlights the need for a full and comprehensive constitutional review of the country’s fiscal federalism.

“In addition, there is need for political consensus building to foster dialogue among political stakeholders to ensure that tax reforms have broad-based support and are sustainable across political transitions.

“If we must live together as one country, Restructuring is a sine qua non. The issues raised for and against the tax bill, are all among issues which will be addressed if we restructure the country and produce a new constitution, or adopt the 1963 Republican Constitution. Giving priority to restructuring will give room for the overhauling of the tax system of the country.

“It is lack of restructuring that has led us to the quagmire we are today as a people; that is why we are here today. This brings to mind my usual slogan, that ‘except we restructure Nigeria, non-restructuring will kill Nigeria’, the statement partly read

Clark explained that the complexity of the Nigerian tax system arose “from the interplay between constitutional mandates, legislative provisions, and the practicalities of revenue collection and allocation.”

He added that the design of the country’s tax system must prioritize incentives for collection and central remittance rather than emphasizing the fairness of revenue sharing.

“A focus on equitable sharing, without improving collection creates perverse incentives – states can only share what is collected.

“Therefore, to boost overall tax revenue, emphasis must focus on improving the collection and remittance processes to ensure a social contract between the corporate and natural individuals for whom they are responsible. Sub-sovereign capacities to collect taxes must be enhanced.”, he said.

The elder statesman also noted that tax reform had always been an issue if contention, adding that despite how much time had passed, the country was yet to get its fiscal policies right, while blaming successive leaders for failing to manage the country’s diversity.

“The leaders of this country have stoutly refused to manage our diversity as a people, and use our diversity as a gain. Rather, they have instituted themselves as institutions, rather than ensuring that the nation’s systems are strong and are the grand norm of the country,” he added.

The Minister of Power, Adebayo Adelabu, on Wednesday, pleaded with the National Chairman of the ruling All Progressives Congress, Dr Abdullahi Ganduje, to leverage the party’s recent victories in Edo and Ondo States to salvage Oyo from the grasp of Governor Seyi Makinde.

Adelabu made the appeal when he led a delegation of Oyo state executives and APC lawmakers on a courtesy visit to the National Working Committee of the party at its secretariat in Abuja.

While blaming the loss of the state to the opposition Peoples Democratic Party on their face-off, the minister assured the party leadership that Oyo APC has learnt its lesson by uniting all factions and aggrieved chieftains in the state.

He said, “So we want you to help us guide and support our state chairman so that he can also achieve the success you have demonstrated at the national level. I believe he shall learn. We are happy that for the first time, after the last elections, Oyo APC can now speak with one voice.

“There is no faction in Oyo State APC again and we are more determined than ever before to take over the governance in Oyo State. I believe we lost the last two elections, not to the non-popularity of the party in the states or due to lack of effort on our part, but to division. A house that is divided against itself will surely fail. Oyo State is an APC State. We all know that.

“In 2019, when I was the governorship candidate, we had divisions. We could not achieve effective reconciliation before the election. We had two senators and about 10 House of Representatives members. So you know that Oyo State APC is a grassroots party and it is a party of the masses.”

While praising Ganduje, Adelabu also extended the plaudit to President Bola Tinubu, who he said has shown courage and leadership since the day he was just inaugurated into office.

Welcoming the delegation, Ganduje stated he was happy that Oyo has succeeded in resolving its crisis and has shown enough commitment to reclaim the state.

He said, “Oyo is part of our blueprint which we call political party homogeneity. We have been looking for unity and uniformity in Oyo State, which we are now seeing. You should organise a mega stakeholders meeting in Ibadan that will involve all the members of the party to the point that the opposition will be intimated.

“We made it clear when we came on board that it will not be business as usual. We want your party offices from the ward, local government and state levels to be physically habitable and functionally operational by having constant meetings.

“That is how you can be connected and coherently alive and, more importantly, intimidate the opponents. The task before us and the 2027 general election is to recover all the House of Reps seats we lost through the death of some members. The seat belongs to the APC, and it is our duty to see that we recover it.”

An international journalist and former supporter of the Obidient Movement, Donu Kogbara, says the 2023 Labour Party (LP) presidential candidate, Peter Obi, is no longer living up to expectations.

According to her, Peter Obi motivated a lot of Nigerians and garnered a lot of supporters in the build-up to the 2023 elections, but his pedigree has nosedived after the election.

Speaking against the backdrop of recent high-profile defections from the Labour Party, Kogbara said the party is like a sinking ship, and the politicians have to fight for their survival.

She maintained while speaking in an interview with Arise News that even though Obi remains a good man, he has not been able to provide the kind of opposition leadership which got him so much support from youths and other Nigerians in the build-up to the 2023 elections.

Kogbara said many supporters of the obedient movement have become disappointed in Obi.

In her words, “Well, rats have always deserted sinking ships, so the Labour Party should say bye-bye to those five lawmakers. They’re entitled to do what they want if it’s within the ambit of the law, which I’m not even sure it is. But for me, the Labour Party is clearly in crisis. We had all that drama around their chairmanship and the traitor, who was on the take from outside elements.

“I just can’t bear people who lack honour. So, there was that whole crisis and then there were other things that made it difficult for Labour Party to function as a proper party. But the thing that depresses me most is not so much what the senators and House of Representatives people do; it is Peter Obi himself.

“I just don’t understand how somebody who was this sparkling inspirational figure, who created a movement almost overnight, galvanized the youths, the intellectuals, anybody who had any iota of principle in their bloodstream, at least admired him to some extent even if they weren’t necessarily going to vote for him for whatever reason, has gone from top to bottom.

“As far as I’m concerned, he’s like a firework that has turned into a damp squib. He’s become so prosperous. All I see is him making anodyne statements here and there on television, donating boreholes or whatever. It’s all good stuff. He’s still a good guy but where is the leader that the opposition needs so desperately? He’s not looking like it.”

Kogbara added that not just Obi, but the entire opposition movement in Nigeria, including Atiku Abubakar, are not doing enough to put the government of President Bola Tinubu on its toes.

She further blamed the Minister of the Federal Capital Territory (FCT), Nyesom Wike, for the crisis rocking the Peoples Democratic Party (PDP).

She, however reserved the largest part of the blame for Obi, labelling him such a disappointment with no aggression to tackle the current government for its lousiness and failures.

“I blame the entire opposition, the Peoples Democratic Party (PDP), for allowing itself to be derailed by my dear friend, Nyesom Wike. By the way, I saw him a couple of months ago and I told him that ‘if I was a PDP Mandarin, I would have tossed you out by now.’ I also blame Atiku Abubakar of spending more time as a Dubai type of big man and not effectively taking on the government.

“And I blame Peter Obi most of all because Peter was a shining star and so many people committed themselves to him emotionally, myself included. I’m not Obidient anymore, to be honest with you, because he’s such a disappointment. I mean, there’s no aggression.

“The government is lousy. And pretty much the only good thing I can think that President Bola Tinubu has done is to keep herdsmen at bay because I’ve noticed there haven’t been any herdsmen shenanigans since Tinubu came in. So, I congratulate him for that if indeed it is his doing.

“But it’s kind of like, there are so many things this government is doing wrong, contracts being awarded without due process, economic collapse, rampaging inflation, widespread hunger and disillusionment and you never hear anything seriously punchy from Peter Obi,” she submitted.