Author: The Nation

The Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has announced a new price list for PoS transactions.

The spokesman of the Lagos Chapter of AMMBAN, Stephen Adeoye, during an interview on Channels Television monitored by The Nation, revealed details of the unified price list for POS transactions.

He said: “Let me tell you the price list, N1000 – N2,400 will be N100 for withdrawal. N3500 to N4000 will be N200; N4,100 to N6,400 will be N300; N6,500 to N7,900 will be N400; N8500 to N10,900 will be N500; N11,000 to N14,000 will be N600; N14,500 to N17, 900 will be N700; N18,000 to N20,000 will N800 for withdrawal.

“Like we said, depending on your location, you can also step it down for people depending on the circumstances. But it should not go more than this.”

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He further stated that for deposits and transfers, agents can now charge N100 for N1,000 to N4,900; N200 for N5000 to N10,900; N300 for N11,000 to N20,900; N400 got N21,000 to N30,900; N500 for N31,000 to N40,000; and N600 for N41,100 to N50,000.

Adeoye said the chairman of the Lagos chapter of the association, David Abiodun, recently released the new price list to excos at a symposium. 

He explained the list was to curb the activities of agents that ate still overcharging their customers.

According to him: “Although, we agreed that depending on one’s area, they can lower the charges. But it should exceed these new charges. This is why we expect everyone to paste it in their locations so that customers can see it.

“To enforce this new price list is easy because we have a good relationship with the Lagos State Command, Police Force, and all the DPOs in the area. Very soon a task force will be set up in each zone so that they will work along with it.”

An intense lobby has begun for appointment into ‘juicy’ committee of the House following the constitution of a Selection Committee to recommend members for appointment as Chairmen and Vice Chairmen of Standing Committees

Speaker Tajudeen Abbas last Thursday appointed a selection committee among six other special committees. 

The Selection Committee, which is headed by the Speaker, will have one member each from the 36 States and is expected to come up with a list which is likely to be announced when the House resumes plenary on July 4.

The Nation gathered that old and new members have begun lobbying for committees regarded as juicy committees of the House. 

The 9th Assembly had over 100 committees with some of them supervising only one agency while others had over five agencies to supervise. 

It was gathered that the immediate past Chairman of the House Committee on Appropriation may be handed back his committee as part of the deal struck with him before he stepped down from the Speakership contest. 

He was said to have also been assured that some of his loyalists will be considered for Committee chairmanship and deputy chairmanship.

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Many lawmakers consider committees that oversee Ministries, Departments and Agencies of Government(MDAs) with enormous influence and huge budgets as ‘juicy’ and such committees are often reserved for key members of the leading party and those loyal to the presiding officers.

Apart from these-so called juicy committees, the Committee on Public Account, which is the only Committee recognised by the Constitution and the Committee on Public petition, are reserved for members of the opposition. 

While Hon. Wole Oke, who headed the Public Accounts Committee in the 9th Assembly was reelected for the 10th Assembly, his colleague in public petition, Jerry Alagbaoso did not make it back.

Oke, who was one of those tipped for the position or Minority Leader, is however said to have backed down for Kingsley China and may be asked to retain his committee if he fails to make it to the leadership of the House. 

The committee oversees the office of the Auditor-General of the Federation, which audits the accounts of all MDAs.

The committee has the power to uphold audit queries or recommend their nullification after grilling heads of the MDAs.

However, the announcement of committee headship may have to wait till the Principals Officer positions are filled by the parties. 

They are the Majority Leader, Deputy Majority Leader, Majority Whip, Deputy Majority Whip, Minority Leader, Deputy Minority Leader, Minority Whip and Deputy Minority Whip.

The eight political parties in the House supported the emergence of Tajudeen Abbas as Speaker and expects to be compensated with committee headship. 

The APC has 177 members in the House; PDP has 117 members; LP 35; NNPP, 19; APGA, five; SDP, two; ADC, two; and the YPP, one, totalling 181 opposition members while one seat is vacant as a result of death, one other has been declared vacant following the resignation of former Speaker, Femi Gbajabiamila who is now Chief of Staff to the President. 

Private depots at the weekend crashed the price of Premium Motor Spirit (PMS) to N495 – N496 per litre from N502 to N503/litre, The Nation has learnt.

The development came amid rumour that the prices of petrol may soar in July owing to the recently devalued exchange rate. 

The Nigerian National Petroleum Company Limited (NNPCL) depot retained its N479.6/litre. 

Independent Petroleum Marketers Association of Nigeria (IPMAN), National Vice President, Alhaji Abubakar Maigandi broke the news to The Nation on phone.

He attributed the decline in price to low demand for the product.

Read Also: Petrol price crashes at depots amid low demand

Lamenting the crash in demand for the PMS, he said customers, especially civil servants cannot cope with the new rates.  

According to him: “They are even reducing the price compared to last week. “They are selling at the rate of N495 to N496/ litre. You know it reached N502 to N503/litre. 

“In Lagos most of the depots in Lagos that is what they are selling. NNPC is maintaining its old rate N479.6/litre.

“There is no much market because people, especially the civil servants, are complaining there is no money.”

He urged importers of the product to hasten the supply, noting that there has been no fresh stocking since the removal of subsidy.

Maigandi, who said vessels of petrol may arrive in July, warned the suppliers not to allow their stock to dry up at any time.

The National Vice President said: “Nobody has imported petrol since the removal of subsidy even NNPC did not import.

“We are all using the old stock. But I know probably this month there will be new stock if not it may create scarcity. 

“The government should not allow the fuel to get scarce. They should ensure they bring new stock. That is what we are expecting.”

The major oil marketers of Nigeria recently said consumption of PMS has reduced by 20% from 66 million litre/day to just over 40 ml/d.  

Its Executive Secretary, Clement Isong, said adjustment of lifestyle due to increased rates was accountable for the decline in demand.