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Tag: charges

  • FG files charges against CJN over $3m in five accounts

    Barring a late minute change, the Chief Justice of Nigeria (CJN), Justice Walter Nkanu Onnoghen, has a date in court in Abuja tomorrow for alleged failure to declare some of his assets, including about $3million.

    Onnoghen is scheduled to be arraigned before the Code of Conduct Tribunal (CCT).

    The Federal Government has already filed a six-count charge against him in that respect.

    The $3million in said to be lodged in five accounts.

    The domiciliary and Naira accounts in the Standard Chartered Bank are coded as USD account No. 870001062650; Euro account No. 93001062686; Pound Sterling A/CNo. 285001062679; e-Saver Savings (Naira) account No. 5001062693; and a Naira A/C No. 010001062667.

    The alleged undeclared amount is put at about $3million in the evidence before the CCT.

    The charge sheet is dated January 10 and filed on January 11.

    Onnoghen will be prosecuted by the Code of Conduct Bureau (CCB) through the Attorney-General of the Federation (AGF), Mallam Abubakar Malami (SAN).

    The application to put the CJN on trial was filed by two prosecutors, Musa Ibrahim Usman and Fatima Danjuma Ali on behalf of the Attorney-General of the Federation and the Code of Conduct Bureau.

    The application reads: “Pursuant to Section 24 of the Code of Conduct Bureau and Tribunal Act, I hereby apply to the Tribunal for the commencement of trial for the offence of failure to submit all assets and liabilities contrary to Paragraphs 15(1) and (2), Code of Conduct Bureau and Tribunal Act, 11(1) of the Fifth Schedule, Part 1 of the Constitution of the Federal Republic of Nigeria, 1999(as amended) and punishable under paragraph 18(1) and (2) of same constitution against Honourable Mr. Justice Walter S. Nkanu Onnoghen( GCON).

    “In support of this application, I attach herewith four copies of the charge, affidavit and summary of evidence consisting of a list of witnesses.

    “If the application is granted, we shall be relying on the facts disclosed in the summary of evidence and further evidence the tribunal may consider necessary at the trial.

    “I attach herewith four copies of the charge against the accused.”

    In an affidavit in support of the application by an investigator with the Code of Conduct Bureau (CCB), Mr. James Akpala said “it is in the public interest to charge the CJN.”

    He said: “I know as a fact that the Head Office of the Bureau received a petition alleging that the CJN failed to declare his assets according to the law.

    “I know as a fact that the defendant did not comply  with the provisions  of the Code of Conduct for public officers in that he failed to declare his assets after his elevation to the Supreme Court and immediately after taking oath of office in the year 2005 and he failed to declare his five Standard Chartered Bank accounts in his two forms CCB1 leveled 2014 and 2016 respectively.

    “The investigation had been concluded and it is in the public interest to charge the defendant. That all witnesses are ready and available to testify. That prosecution is ready to commence trial.

    “At the trial, the complainant will rely on the testimony of the witnesses set down in the list attached hereto and tender all relevant documents in proof of the case.”

     

    The allegations against the CJN are as follows:

    “That you, Justice Walter Nkanu Onnoghen, CJN, GCON between 8th June 2005 to 14th December 2016 being a public officer serving as a Judicial Officer in the Federal Republic of Nigeria as a Justice of the Supreme Court failed to declare and submit a written declaration of all your assets and liabilities within the prescribed period of three months after being sworn in as the Justice of the Supreme Court of Nigeria on the 8th day of June 2005 and you thereby contravened the provisions of Section 15(1) of the Coded of Conduct Bureau and Tribunal Act Cap C15 Laws of the Federation of Nigeria( LFN) 2004 and punishable under Section 23(2) a, b, c, of the same Act.

    • “That you, Justice Walter Nkanu Onnoghen, CJN, GCON between 8th June 2005 to 14th December 2016 falsely declared your assets in your Declaration of Assets Form CCB 1(after you were sworn-in as the Justice of the Supreme Court of Nigeria) by omitting to declare a domiciliary (US dollar) account No. 870001062650 maintained with Standard Chartered Bank(Nig.) Limited Wuse 2, Abuja which is being operated since 2011 and you thereby contravened the provisions of Section 15(2) read along with Section 15(1) of the Code of Conduct Bureau and Tribunal Act Cap C15 LFN 2004 and punishable under Section 23(2) a, b, c, of the same Act
    • “That you, Justice Walter Nkanu Onnoghen, CJN, GCON between 8th June 2005 to 14th December 2016 being a public officer as Justice of the Supreme Court of Nigeria who is under a duty to declare his assets to the Code of Conduct Bureau on or about 14th December 2016 falsely declared your assets in your Declaration of Assets Form CCB 1(after you were sworn-in as the Justice of the Supreme Court of Nigeria) by omitting to declare a domiciliary (Euro) account No. 93001062686 maintained with Standard Chartered Bank (Nig.) Ltd. Wuse 2, Abuja which is being operated since 2011 and you thereby contravened the provisions of Section 15(2) read along with Section 15(1) of the Code of Conduct Bureau and Tribunal Act Cap C15 LFN 2004 and punishable under Section 23(2) a, b, c, of the same Act.
    • “That you, Justice Walter Nkanu Onnoghen, CJN, GCON between 8th June 2005 to 14th December 2016 being a public officer as Justice of the Supreme Court of Nigeria who is under a duty to declare his assets to the Code of Conduct Bureau on or about 14th December 2016 falsely declared your assets in your Declaration of Assets Form CCB 1(after you were sworn-in as the Justice of the Supreme Court of Nigeria) by omitting to declare a domiciliary(Pound Sterling) account No. 285001062679 maintained with Standard Chartered Bank (Nig.) Ltd. Wuse 2, Abuja which is being operated since 2011 and you thereby contravened the provisions of Section 15(2) read along with Section 15(1) of the Code of Conduct Bureau and Tribunal Act Cap C15 LFN 2004 and punishable under Section 23(2) a, b, c, of the same Act
    • “That you, Justice Walter Nkanu Onnoghen between 8th June 2005 to 14th December 2016 being a public officer as Justice of the Supreme Court of Nigeria who is under a duty to declare his assets to the Code of Conduct Bureau on or about 14th December 2016 falsely declared your assets in your Declaration of Assets Form CCB 1(after you were sworn-in as the Justice of the Supreme Court of Nigeria) by omitting to declare an e-Saver Savings (Naira) account No. 5001062693 maintained with Standard Chartered Bank (Nig.) Ltd. Wuse 2, Abuja which is being operated since 2011 and you thereby contravened the provisions of Section 15(2) read along with Section 15(1) of the Code of Conduct Bureau and Tribunal Act Cap C15 LFN 2004 and punishable under Section 23(2) a, b, c, of the same Act.
    • “That you, Justice Walter Nkanu Onnoghen, CJN, GCON between 8th June 2005 to 14th December 2016 being a public officer as Justice of the Supreme Court of Nigeria who is under a duty to declare his assets to the Code of Conduct Bureau on or about 14th December 2016 falsely failed to declare assets in your Declaration of Assets Form CCB 1(after you were sworn-in as the Justice of the Supreme Court of Nigeria) a Naira Account No. 010001062667 maintained with Standard Chartered Bank (Nig.) Ltd. Wuse 2, Abuja which is being operated since 2011 and you thereby contravened the provisions of Section 15(2) read along with Section 15(1) of the Code of Conduct Bureau and Tribunal Act Cap C15 LFN 2004 and punishable under Section 23(2) a, b, c, of the same Act.

  • Taxes, other charges killing us, say telcos

    Telecoms operators have lamented the crippling effect of multiple taxation, arbitrary charges and other challenges besetting the industry.

    The operators, acting under the aegis of Association of Telecoms Operators of Nigeria (ATCO), also lamented that the sector was left out in this year’s Appropriation Bill, which was assented to by President Muhammadu Buhari.

    Its President, Olusola Teniola, said lamented that the budget demonstrates the incapability of the government to further fund and spend on the much-needed infrastructure projects, such as power and information communication technology (ICT) and other essential items without reducing the recurrent expenditure to a level that reflects greater efficiencies in the way governance is run in the country. It also reflects a reality that the government’s diversification programme is slowing down or in doubt.

    “So this budget will only indirectly impact the telecoms sector, when the government removes the 38 different taxes and levies being applied to the sector to fund government spending. The government also needs to address the leakages in the 2018 budget, as the current taxes contributed by the telecoms sector alone per year is more than N450 billion and this is not reflected properly in their revenue line, highlighting  a problem with accountability within government and shortchanging the effort that the industry plays in the nation’s economic development.

    “The fact that many projects were removed and replaced with National Assembly projects demonstrates a problem in what is going to be implemented in 2018 and early 2019 to support this diversification,” Teniola said in electronic interview.

    He said Buhari  should address his concerns with the legislature and other stakeholders in the polity to ensure that any gaps that exist are closed in a manner that benefits the citizens. The fact that differences exist is not a problem, he said, adding the area the that needed to be addressed is transparency and relevance of projects that both sides of the government seek as priority within the remaining term of the administration.

    He said collaboration is not only key between the executive arm of government, but also with legislature, the private sector  and civic society in ensuring that this budget delivers the dividends to each citizen and more importantly that the private sector has the much needed funds that government seeks to deliver on its promises.

    However, he said this could only be harnessed when the government provides an enabling environment and a level of accountability as to how taxes are collected and spent to provide the basics to its citizens.

    The recurring expenditure is one line item that speaks to that, it needs to be reduced and not increased going forward.

  • Why EFCC filed charges against CCT chair

    Why EFCC filed charges against CCT chair

    The Economic and Financial Crimes Commission (EFCC) filed charges against the Chairman of the Code of Conduct Tribunal (CCT), Justice Danladi Umar, based on a ruling of the High Court, Federal Capital Territory (FCT), it was learnt yesterday.

    Justice Chizoba Oji had in a ruling admitted the initial statement by Ali Gambo Abdullahi( the Personal Assistant to the CCT chairman) in which he allegedly claimed  that he collected a bribe for Justice Umar.

    The admission of the statement by the court was said to have paved the way for the preferring of charges against the CCT chairman by the EFCC.

    A source in EFCC said:  “Justice Oji admitted in evidence statement made by Personal Assistant to the Chairman of the Code of Conduct Tribunal (CCT), Ali Gambo Abdullahi, that implicated his boss, Danladi Umar in a N10 million bribery scandal.

    “The judge on  March 6, 2017 dismissed the claim by Abdullahi that the  statement he made in 2013 was under duress from some  operatives of the  EFCC during  interrogation.

    “In August 12, 2013, Abdullahi had said under oath that he was forced to implicate the CCT chairman. But he later recanted in court, leading to the ruling of Justice Oji.

    “On the basis of the ruling on the legality of the statement of the Personal Assistant, the EFCC resumed probe of the CCT chairman and filed charges against him.

    “It was not a case of EFCC approbating and reprobating. EFCC filed the charges as a result of this new development at the FCT High Court. There was no personal motive at all and nobody is after the judge under any guise.”

    Also yesterday, The Nation stumbled on a document which indicated that the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), did not query the Acting Chairman of the EFCC Magu.

    Malami, had through the Solicitor-General of the Federation, Mr. Dayo Apata, only demanded  for a briefing from Magu  on the status of a March 5, 2015 letter to a former Secretary to the Government of the Federation, Mr. Anyim Pius Anyim, by a former Chairman of EFCC, CP Ibrahim Lamorde, in relation to the charges preferred against the CCT chairman.

    The February 16, 2018 letter said in part: “The attention of the Honourable Attorney General of the Federation was drawn to news report that the Economic and Financial Crimes Commission has filed charges of corruption against the Chairman of the Code of Conduct Tribunal.

    “I am directed by the Honourable Attorney General of the Federation to seek clarification from you as to whether charges were filed on your instruction or directive and if in the affirmative, what is the compelling basis for doing so.

    “In view of the foregoing, the Honourable Attorney General of the Federation requests for your prompt briefing as to the existence of new facts which are contrary to the position in your attached investigation report,  sufficient evidence or other developments upon which the prosecution of Hon. Justice Danladi Umar can be successfully based.

    “Kindly accord this letter top priority while your prompt response within 48 hours from the receipt of same is required in the circumstances. Please accept the assurances of the esteemed regards and best wishes of the AGF and Minister of Justice.”

    An EFCC source stressed that the letter from the HAGF was not a query, contrary to insinuations. “If the HAGF is seeking the status  of an investigation report of 2015 , does it amount to a query?” the source asked.

    He went on: “The report in question, which the HAGF wanted a clarification even preceded the appointment of the Acting chairman of EFCC. There was a leakage somewhere because the HAGF’s letter through the Solicitor-General was already in the media before it was brought to the EFCC on Monday.”

    The report of the 2015 investigation report was sent to a former  Secretary to the Government of the Federation, Anyim Pius Anyim, by Lamorde.

    The covering  letter  said: “We refer to your letter ref. No. SGF.19./S.24/11/451 dated 23rd February 2015 on the above mentioned case reported by one Mr. Rasheed Taiwo (DCG rtd) of 6AB Milverton Road, Lagos against the Chairman of the Code of Conduct Tribunal, Justice Danladi Umar and his Personal Assistant, one Gambo Abdullahi.

    “The complainant, who is facing charges at the Code of Conduct Tribunal, alleged that Justice Umar made direct demand for the sum of N10 million to quash the charges sometime in 2012. He disclosed that he was compelled to pay the sum of N1.8 million after persistent inundation with phone calls from Justice Umar, who received the bribe through the Zenith Bank account of one Ali Gambo Abdullahi, his personal Assistant in December, 2012.

    “Investigation was extended to one Hon. Justice G.A Oguntade (Rtd) who confirmed that the complainant informed him in 2012 of the issues he had at the Tribunal and the demand being made by Justice Umar. He disclosed that Justice Umar denied the allegation when he called him.

    “There are indications that the Tribunal Chairman might have demanded and collected money from the complainant through his said Personal Assistant.

    “However, efforts made to recover the telephone handset used by Justice Umar proved abortive, as he claimed that he had lost the telephone in 2012. This has made it impossible to subject it to independent scientific analysis with a view to corroborating the allegation.

    “In the same vein, the complainant could also not make available his telephone set for analysis on the grounds that he had lost it. Justice Umar also admitted that he met privately with the complainant in his chamber at the Tribunal. This is a most unethical and highly suspicious conduct on his part.

    ”There is a prima facie evidence to however prosecute  the Personal  Assistant, Abdullahi, who could offer no coherent excuse for receiving N1.8million into his salary account from Taiwo, who is  an accused person standing trial at the tribunal.

    “The full money has been recovered from him in May 2014 and aptly registered as exhibit. The fact that he made two contradictory statements on the reason he was paid the money, is clearly an attempt to cover up on the  reason the money was paid to him. He has  accordingly been charged to court in charge no. CR/137/2015 pending  at the High Court of FCT, Abuja.

    “However the facts as they are now against Justice Umar raised a mere suspicion and will therefore not be sufficient to successfully prosecute him for the offence.

    “Above is submitted for the information of the Secretary to the Government of the Federation, please.”

    The Secretary to EFCC, Mr. Emamnuel Adegboyega Aremo, in another letter to the Secretary to the Government of the Federation on April 20, 2016, exonerated Justice Danladi of corrupt practices.

    The letter said: “We will like to reiterate the Commission’s position in regard to this matter as earlier communicated to you and state that the allegations levelled against Justice Umar were mere suspicions and consequently insufficient to successfully prosecute the offence.”

    The EFCC filed a two-count charge against the Chairman of the Code of Conduct Tribunal in connection with alleged N10million bribery scam.

    He was alleged to have demanded the bribe from a former Comptroller of Customs, Mr. Rasheed Owolabi Taiwo.

    Umar is going to face trial in the High Court of FCT.

  • Terminal operators waive N1.5b charges on TCN containers

    Container terminal operators have waived N1.5 billion charges on 500 containers carrying power equipment belonging to the Transmission Company of Nigeria (TCN).

    A statement issued by the Seaport Terminal Operators Association of Nigeria (STOAN), the umbrella body of the operators at the weekend, and issued by its spokesman, Bolaji Akinola, said the container terminal operators waived the amount on the longstanding TCN containers in support of the Federal Government’s effort to ensure steady supply of electricity in the country.

    “We are not unmindful of the fact that electricity is the most important commodity for national development, he said, adding that stable electric power supply is an empowerment and an enabler for people to work from the domestic level and the cottage industries, through the small-scale and medium industries to employment in the large-scale manufacturing complexes.

    STOAN said the decision was taken in support of the government’s effort to ensure steady power supply and accelerate economic development.”

    According to the statement: “In April 2016, the Office of the Vice President set up a committee comprising of the Ministers of Finance, Transport, Power, Works and Housing, along with the Comptroller-General of the Nigeria Customs Service to look into the stranded power equipment containers in the ports. As a result, terminals operators and shipping lines were invited to a meeting on April 5, 2016 at the office of the Minister of Power, Works & Housing.

    “We agreed at the meeting to a 50 percent storage waiver ending April 30th 2016 for the power projects, while the shipping lines agreed to 75 per cent waiver on demurrage.

    The body said government could not make payments for the containers and storage continued to accrue, prompting the need for another meeting  on 1st September 2016 to address the issue. STOAN said  because “we are committed to the well being of Nigeria and Nigerians, we still went ahead to honour the April 2016 agreement. The implication of this was that we had to waive additional charges that accrued as storage over another one year period from April 2016 to when payment was made in March 2017.”

    The Federal Government confirmed in January 2017 that it has taken delivery of the 500 power equipment containers from the port, saying the Minster of Power, Works and Housing,  Babatunde Fashola, made the announcement while receiving a 20-year Transmission Expansion Master Plan presented by the Interim Managing Director of TCN, Usman Gur Mohammed, in Abuja.

    Fashola said the containers containing transmission equipment have been deployed to TCN sites, pointing out that the delivery of the containers was in line with a presidential mandate to improve the capacity of TCN to deliver service between power generating companies (GENCOs) and power distribution companies.

  • IGP: Fed Govt amends charges against Misau

    IGP: Fed Govt amends charges against Misau

    The Federal Government has amended the charges of injurious falsehood brought against the senator representing Bauchi State Senatorial District, Isah Misau, before the Federal Capital Territory High Court sitting at Maitama,Abuja.

    Misau was on October 10, 2017  dragged before the court by Minister of Justice and Attorney-General of the Federation Abubakar Malami (SAN) on a five-count charge.

    The senator was accused of falsely claiming that the Inspector-General of Police (IGP), Ibrahim Idris, was receiving as much as N10 billion from oil companies, banks hotels and individuals as bribe for police protection.

    He was also said to have falsely accused the IGP of appointing many mobile commanders of Nupe extraction.

    After Misau pleaded not guilty to the seven-count charge, the lead prosecution counsel, Dr Alex Izinyon(SAN), urged the court to issue a warning to the defendant on the need to stop making further comments on the subject of the charges to the media.

    ”My lord I urge this court to ban the defendant from commenting on this matter to the media.For if that happens, I will come formally before this court,” Izinyon said.

    The prosecution counsel also applied for a subpoena to be issued on Channels Television for the production of the video clips where the senator allegedly made malicious claims against the IGP and others.

    The defence counsel, Mr Paul Erokoro (SAN), said the defendant would never make such comments.

    ”We must also remember that the defendant is a serving senator,”  Erokoro said.

    The Chief Judge of the FCT High Court, Justice Ishaq Bello, cautioned the senator against making further comments in the media on issues bordering on the charges for which he is being prosecuted.

    The chief judge adjourned till Feburary 22 for continuation of hearing and to address the issue of subpoena.

  • APM Terminals waives charges on containers for IDPs

    Nigeria’s leading container terminal operator, APM Terminals Apapa Limited, at the weekend waived handling and storage charges running into several millions of naira on a container load of fish which was donated by the Federal Government to Internally Displaced Persons (IDPs) in Yobe State.

    The Federal Government, through the Nigeria Customs Service (NCS), had directed that the 40-feet container laden with Tilapia fish and confiscated by the Apapa Area Command of NCS be released to the Nigeria Army Corps of Supply and Transport (NACST) for onward delivery to Yobe State for the use of IDPs.

    According to the United Nations High Commission for Refugees (UNHCR), an Internally Displaced Person is someone who is forced to flee his or her home but who remains within his or her country’s borders.

    More than 40 million people have become displaced worldwide within their own country as a result of violence, with majority of the new displacements occurring in Nigeria, South Sudan, Syria, Democratic Republic of the Congo and Iraq.

    When contacted, the Managing Director of APM Terminals Apapa, Mr. Martin Jacob said APM Terminals is always willing to support the host government in any country it operates in bringing succour to its citizens as a way of giving back.

    Jacob also said APM Terminals is supporting the Nigerian government’s food export drive through the provision of modern cold chain transportation alternatives for farmers in the agricultural centers of northern Nigeria to bring fresh produce intact and unspoiled to market centres in Lagos.

    He said the initiative could save an estimated 15 million metric tons of perishable goods, including onions, potatoes, tomatoes, peppers, okra, ginger and carrots, which are lost annually due to poor logistics infrastructure and high transportation costs.

    APM Terminals Apapa is the largest container facility by capacity of the three serving Lagos, Nigeria’s largest city and business centre.

     

     

    It is also the largest container terminal operation in West Africa, having doubled container traffic after concession began in 2006, with dramatically improved productivity.

    A USD350 million investment and expansion programme was announced for APM Terminals Apapa since 2006. The company currently operates the Apapa and WACT Onne facilities in Nigeria, with plans to develop a third at Badagry.

  • Anglican church charges Buhari on fight against corruption

    Anglican church charges Buhari on fight against corruption

    The Anglican Church of Nigeria has charged the federal government to re-examine some of institutions and structures put in place to fight corruption with a view to strengthening the institutions and ensuring that corruption is reduced in the country. The church expressed dismay that despite attempts by some past and present leaders to uproot corruption, the fight against corruption has not been successful in the land.

    Speaking at the second session of the third synod of the Anglican Diocese of Omu-Aran , Kwara State , the Diocesan Bishop of the Anglican Church, Rt. Reverend Philip Adeyemo, said it was saddening to state that rather than abating, corruption has continued to spread. In his paper with the theme: “A curse is not without cause”,  Adeyemo blamed the situation on greed, selfishness, wickedness and partiality among the leaders .

    “It means that we have not gotten the best way to fight and win corruption in this country. We need to examine some of the institutions and structures put in place at federal, states and local government levels which make corruption intractable in the country. For example, Nigeria is a country where fund is being disbursed to the federal, states and local governments every month without proper system of monitoring the spending,” the clergyman said.

    According to him, Nigeria cannot witness growth and stability unless there is a fearless  leader with integrity that is determined to fight corruption without compromise. “Therefore, to have a Nigeria where no man is oppressed and where peace and justice reign, we need leaders of integrity and not treasury looters,” he stated.

    Reverend Adeyemo also suggested that governance at all levels should be made less attractive financially if the leaders were truly determined to fight and win corruption in the country. He called on President Buhari to do everything within his power to rid the country of corruption and corrupt leaders and public officials before leaving office.

     

  • CBN stops banks from taking charges on bulk transfers

    CBN stops banks from taking charges on bulk transfers

    Commercial banks can no longer take Short Message Service (SMS) charges on bulk bank transfers done through the Real Time Gross Settlement (RTGS), The Nation learnt at the weekend.

    The RTGS is an interbank funds transfer system on “real time” basis and “gross”. Settlement in the “real time” means that the transaction takes place almost immediately.

    The banks were previously charging N4 per transaction or text message fee on all bulk transfers, but were directed by the Central Bank of Nigeria (CBN) to halt such fees in the interest of customers.

    The CBN’s directive has further cut banks’ multiple revenue streams that form a major part of the huge profits they declared in recent years.

    A Customer Service Officer in one of the Tier-1 banks told The Nation that most salary accounts that are funded through bulk transfers are no longer getting transaction alerts because the fee cannot be absorbed by customers or charged on their accounts.

    The source said banks were complying with the CBN directive while customers under such arrangements are expected to use bank-specific digital codes to check their account balances as they can no longer get bulk-transfers related transaction alerts.

    The Nigerian Communications Commission (NCC) had directed that any person subscribing to any of the Nigerian GSM networks must not be charged more than N4 for SMS, sent to other networks. The NCC set a price cap of N4 per message for all domestic Off-Net Messaging Service in line with Sections 4 and Chapter V11 of the Nigerian Communications Act (NCA), 2003.

    Speaking on e-payment at a meeting with financial journalists in Lagos, CBN Director, Banking & Payments System Department, ‘Dipo Fatokun, described e-payment as any form of payment that allows the use of electronics system to initiate, authorise and confirm the transfer of money between two parties.

    The transaction reason, he said, could be for the payment for goods and services, settlement of obligations, gifts among others.

    He explained that e-payments are driven by a network of interconnected systems, which make it possible for exchanges of value between payer and payee, sender and receivers or donor and donee.

    “Banks, Payment Service Providers (PSPs), Financial Authorities and Central Banks play various roles in developing the payments system infrastructure to drive electronic payments, that is nationally utilized. The e— payments industry refers to all stakeholders, operators, regulators, infrastructures, merchants, retailers and the final consumers of the payments products and services. Payment technologies and platforms bind the industry together in a tight ecosystem,” he said.

    Fatokun disclosed that global non-cash (electronic payment) transaction volumes grew at 8.9 per cent to reach $387.3 billion in 2014, an increase, driven by accelerated growth in developing markets.

    “Cards have been the fastest growing payments instrument since 2010, as cheque use has declined consistently and significantly. Debit cards accounted for the highest share (45.7 per cent) of global e-payment transactions and were also the fastest growing (12.8 per cent) payments instrument in  2014,” he said.

    According to him, global non-cash volumes are estimated to have grown by 10.1 per cent to reach $426.3 billion in 2015, aided by high growth in emerging economies across the world, including Africa even as the Nigerian e-payments industry has been evolving in line with the evolution in global payments in both Wholesale and Retail systems.

    “Banks, PSPs, and the CBN have played various roles in developing the payments system and creating products and channels for electronic payments. The Retail Payments Transformation Programme of the CBN has led to the introduction of various electronic payments products and services by operators in the industry. The electronic products are gradually reducing the usage of cheques and cash, as noticed consistently in the annual performance report since the inception of the Cash-less Policy in 2012,” he said.

    He said the volume and value of transactions based on cheques and National Electronic Funds Transfer (NEFT) have been consistently reducing yearly since 2013, while same data for the Nigeria Interbank Settlement System- NIBSS Instant Payment (NIP), Automated Teller Machine (ATM), and mobile money channels have been on the increase. This is an indication of users’ preference for instant value channels over non-instant payment channels.

    “The ATM Channel accounts for the highest volume of transactions, while the NIP accounts for the highest value of transactions annually. This is because the ATM is usually the e-payment channel that new and lower value account holders always interface with, while corporates and upwardly mobile middle class customers make transfers using NIP,” he said.

    The CBN director disclosed that banks and other e-payment service providers operate in a highly regulated environment. “Regulation is necessary to ensure that operators focus on delivering products and services that enable compliance, efficiency, financial stability and a positive customer experience. The attempt to regulate electronic payments in Nigeria started with the CBN Electronic Banking Guidelines, issued in August 2003,” he said.

    Also, in furtherance of its effort to promote and facilitate the development of efficient and effective systems for the settlement of transactions, including the development of electronic payments system, the CBN has since 2008, issued and reviewed several e-payment related framework, guidelines and circulars.

  • IATA flays high tax, airport charges

    IATA flays high tax, airport charges

    The International Air Transport Association (IATA) has called for reduction in taxes and airports’ charges.

    The global airlines regulatory body, in a study released at the weekend, said higher airport charges and taxes could deny passengers full benefits of cheaper air travel in the next 10 years.

    The IATA study indicated that many airports across the globe have increased charges and taxes astronomically in the last few years, with statistics showing that international passengers departing from 13 African Airports are charged between  $40 and $85.

    Included in this group are major destinations, such as Accra, Abidjan, Ouagadougou, Nairobi and Entebbe. Djibouti, the study said, has the highest charge of $89 per passenger (departing and arriving), adding that at other nine airports, passengers are charged between $30 and $40.

    Within the European Union (EU), it  was observed that the United Kingdom (UK) still has the highest flight taxes with an adult holder of economy short haul ticket flying from a UK airport, paying $20 in tax.

    For a first or business class ticket, the tax paid goes for as high as $41.

    Despite the critical role that air transport plays and its significant contribution to the economies of African countries, governments’ policy makers continue to view air transport as a luxury service for the elite, the report said, stating that directly and indirectly, air transport supports about 6.7 million jobs in Africa and contributes $67.8 billion to the Gross Domestic Product (GDP). Despite this, many African governments and airport service providers burden airlines and passengers with high taxes, fees and charges, the report, said.

    IATA’s Director-General/CEO, Alexandre de Juniac, said: “Airlines, like all competitive businesses, are in a constant struggle to improve efficiency. Europe’s airports however, are largely insulated from competitive forces. Europe’s light-handed Airport charges directive has failed Europe’s travellers and its own competitiveness by letting airport charges rise.”

    He said tighter EU regulation is needed to stop airport monopolies from taking money from the pockets of travellers to reward investors. The goal should be economic regulation of airport monopolies that is an effective proxy for competition—promoting efficiency while protecting consumers.

    “In that regard the voice and interests of airlines – airports’ main customers– should be carefully listened to. This will ensure effective regulation that will broadly balance the interests of travellers, investors, citizens and economies,”he said.

    The trend of increasing private ownership of European airports, he said, adds urgency to the situation, hinting that since 2010 the number of European airports in private hands has almost doubled.

  • TSA: Govt saves N4b bank charges monthly

    TSA: Govt saves N4b bank charges monthly

    The Treasury Single Account (TSA) policy has enabled the Federal Government to save N4billion monthly from charges that banks collected on its numerous accounts, it was learnt at the weekend.

    Besides, more than N7 trillion has been remitted by banks to the government’s TSA account in compliance with the policy.

    The figure,  as at March, showed that the TSA had been able to consolidate all inflows from government agencies using a single account-Consolidated Revenue Account (CRA), at the Central Bank of Nigeria (CBN).

    The TSA is a bank account or a set of linked bank accounts through which the government transacts all its receipts and payments and gets a consolidated view of its cash position at any given time.

    The implementation of TSA was a nightmare for government until September 2015, when SystemSpecs deployed Remita, locally developed payment software, to drive the policy execution.

    Before TSA, every organisation that collects money payable to the Federal government stacked cash in Deposit Money Banks (DMBs) where they were left to yield interest over the years for faceless individuals and groups while the Federal Government was starved of funds meant for developmental projects.

    The Federal High Court in Lagos two weeks ago, ordered seven commercial lenders to temporarily remit a total of $793.2 million allegedly hidden by them in contravention of the TSA policy.

    Justice Chuka Obiozor ordered the banks to remit the various amounts allegedly being kept illegally in their custody to the designated Federal Government’s asset recovery dollars account domiciled with the apex bank.

    The concerned banks are United Bank for Africa Plc, Diamond Bank Plc, Skye Bank Plc, First Bank Limited, Fidelity Bank Plc, Keystone Bank Limited and Sterling Bank Plc. However, the lenders have all denied keeping such funds, insisting they have remitted the cash to the regulator.

    Head of Treasury at Ecobank Nigeria, Olakunle Ezun, said the TSA has remained a major challenge for most banks, especially smaller lenders.

    He said the TSA has reduced banks’ balance sheet positions and income.

    Ezun said: “TSA remains a minus for banks, and plus for government,” he disclosed.

    He said: “A lot of banks did not honour their obligations, because of liquidity problems. But after a while, some banks met with the CBN and asked to pay gradually. The CBN later gave them forbearance, but increased liquidity in the system, I think they are now expected to remit the cash,” he said.

    Ezun said TSA remains a minus for banks, and plus for government, adding that the affected lenders will have to source the dollar from the parallel market because the law does not allow them to bid at the official market for such funds.

    “A lot of the affected banks will have to source for the funds at the parallel market,  if they do not have the required cash. The banks that were caught in the web were those facing foreign exchange crisis, which made it difficult for them to remit in totality to the CBN,” he said.

    Defending the initiative, Executive Director, SystemSpecs, Adermi Atanda, said the TSA is just a concept, a way and means of banking.

    He said: “So, TSA is just set of arrangements of knowing where your funds are, aggregating them for optimum benefits to the economy. So, that in itself, does not make it threat to banking in any way. It is just that government needs to get more efficient by leveraging on technology, and it goes beyond the banks. It touches how people are able to relate with governments, the ease of payment, delivery of service, accountability of government revenues, taxation and making funds available for national development,” he said.