The Nation Newspaper

Tag: charges

  • ‘Why ATM charges were returned’

    The Central Bank of Nigeria (CBN) has defended the return of Automated Teller Machines (ATMs) charges, saying it is to relieve banks of financial burdens after it was removed in December 2012.

    CBN Director, Banking & Payments System Department, ‘Dipo Fatokun said the N65 charge would cover the remuneration of the switches, ATM monitors and fit-notes processing by acquiring banks.

    He told The Nation in Lagos: “It is not a reintroduction per se. You have to agree with me that when the amendment was made in December 2012, it used to be N100 on any remote on us withdrawal that you do.

    “And you know a remote on us is when a cardholder goes to ATM of a bank, other than his bank, to withdraw cash. It was removed then, so that people can be encouraged to go to other ATMs without paying for it. But the truth is that as we explained that the N100 include N35 that goes to the issuing bank, which has now been completely waived. The issuing bank does not make any thing.

    “But in going to other ATMs to make withdrawals, your bank, the acquirer bank incurs a cost of N65 which they pay to the switches, and the owner of the ATM that you are using.”

    Fatokun said between 2012, and now, when the review was done, it was discovered that people had actually turned ATMs into their personal purses because nothing was charged.

    “Somebody needs N500; he will go to ATMs and withdraw. He needs, N1,000 he will go to an ATM, such that in a day, some people can patronise ATMs up to eight times. This has created a huge cost burden for the banks that issued the cards and it is becoming discouraging to them.

    “That is why we said that the remote-on-us, will still continue, but  it is when you make the fourth withdrawal that N65 that  has to be paid on your behalf will apply. Still, customers can withdraw any amount from their banks’ ATMs without paying fees,” he said.

    Policy, Fatokun said, did not discourage financial inclusion as claimed by some people, adding that cash-less banking encourages use of e-payment channels like Point-of-Sale (PoS) and online payment, among others.

    “Remember that when you talk about cash-less, you are encouraging people to do their transactions, other than cash. So, it is not discouragement, really, it is a motivation,” he said.

    Fatokun explained that the charge would apply as from the fourth transaction in another bank’s ATM. “The fee shall apply in ‘’Remote-on-us’’ withdrawal (in a month) by a card holder, thereby making the first three ‘remote-on-us transactions free for the card holder, but to be paid for by the issuing bank. September 1, shall be the effective date for the implementation of the new fee,” he said.

  • Mixed reactions trail CBN’s proposed reintroduction of ATM charges

    Mixed reactions trail CBN’s proposed reintroduction of ATM charges

    The planned reintroduction of ATM charges by the Central Bank of Nigeria (CBN) has been described as unnecessary.

    Speaking with The Nation at the weekend, a cross-section of respondents argued that the new policy was bound to affect the banking culture and also capable of jeopardizing the cashless policy.

    Emeka Ofoegbu, a financial expert said the reintroduction of ATM charges was not well-thought out. “The policy will affect the saving culture.”

    Echoing similar sentiments, Rotimi Oladejo, a capital market analyst said the reason adduced for the reintroduction of ATM charges was skewed towards the banks without recourse to the consumers.”

    The apex bank had announced that withdrawals would attract N65 per transaction to cover remuneration for the switches from Sept. 1

    The CBN in a circular signed by Dipo Fatokun, Director Banking and Payment System Department, said: `The reintroduction of “Remote-On-Us” ATM cash withdrawal transactions fee, which will be now N65 per transaction to cover the remuneration of the switches, ATM monitoring and fit-notes processing by acquiring banks.

    “The new charge shall apply as from fourth “Remote-on-us” withdrawal in a month by a card holder, thereby making the first three `remote on us’ transactions free for the card holders, but to be paid for by the issuing bank,” it said.

    According to the circular, Sept. 1, 2014 shall be the effective date for the implementation of the new fee.

    It stated that banks were expected to conduct adequate sensitisation of their customers on the introduction of the new fee.

    The circular stated that all ATM cash withdrawal on the ATM of issuing banks should be at no cost to the card holder.

    It recalled that CBN in collaboration with the Bankers Committee had in December 2012 transferred the payment of N100 fee on Remote-on-us ATM cash withdrawal transactions to issuing banks.

    “This fee was shared between the acquirers, issuers and switches. On the commencement of the arrangement in December 2012, banks decided to waive the issuer fee (N35) which should have ordinarily been an income to them.

    “Consequently banks only bore the cost of N65 each time their customers use another banks’ ATM,” it said.

  • Go for victory, Imoke charges Eaglets

    Go for victory, Imoke charges Eaglets

    • As team travels to Kinshasa aboard Kenya Airways

    Senator Liyel Imoke (CON), Governor of Cross River State, has enjoined the team to go all out and claim victory in this weekend’s 2015 African Under-17  Championship away to Congo Democratic Republic on Saturday.

    “We want to send our best wishes as you travel for your first match against Congo Democratic Republic this weekend,”  Governor Imoke was quoted as saying by the state’s Commissioner for Sport & Youth Development, Patrick Ugbe.

    “Be assured of our prayers and support. We want  you to emulate the last set of the Golden Eaglets by winning all your qualifying matches starting with this weekend’s match .”

    A squad of 18 players along with officials led by Amuneke flew into

    Lagos yesterday evening from the team’s base in Calabar for Kinshasa via Nairobi aboard Kenyan Airlines. Also on the trip are Messer Rafiu Yusuf and Emmanuel Adesanya who respectively heads the technical and Inter-clubs department at Nigeria Football Federation (NFF).

  • Babalakin, others want charges quashed

    The  Chairman of Bi-Courtney Limited, Dr. Wale Babalakin and his co-defendants have asked a Lagos High Court, Ikeja to quash the charges preferred against them by the Economic and Financial Crimes Commission (EFCC).

    The EFCC arraigned Babalakin on  a 27-count charge for fraudulently transferring N4.7 billion for the convicted former governor of Delta State, James Ibori.

    Charged with Babalakin are Alex Okoh, Stabilini Vision Limited, Bi-Courtney Limited and Renix Nigeria Limited.

    The EFCC had alleged that Babalakin and his co-defendants fraudulently assisted Ibori to transfer the money through various parties to Erin Aviation account in Mauritius to buy a plane.

    At the resumed hearing of the matter presided over by Justice Lateef Lawal-Akapo, the defendants through their counsel, Dr. Biodun Layonu (SAN), Mr. Tayo Oyetibo (SAN) and Mr. O. Akinosun argued that the suit was incompetent, urging the court to quash it.

    Layonu, counsel to Babalakin, argued that it was unconstitutional for two distinct prosecuting authorities to prosecute one individual.

    Layonu, who claimed to have conducted  research on the matter, said he was  yet to come across  any legal instance where such  happened.

    Layonu challenged the prosecutor to furnish the court with such an instance, where two institutions prosecuted an individual.

    He prayed  the court to dismiss the case if the prosecution failed to do so.

    “Our submission is that it (joint-prosecution) is unknown to Law. There is no judicial authority to support it. If they fail to show that it has foundation in Law, then it is a nullity,” he said.

    He said even if joint-prosecution was allowed, the Attorney-General of the Federation was not represented on the statement of charge.

    Counsel to  Okoh,  Oyetibo (SAN), also urged the court to quash the charges. He argued that the suit was unconstitutional, noting that the charge did not contain the offences alleged.

    He said the first duty of the Constitution is to ensure that the offence is contained in the charge as claimed.

    According to Oyetibo, this is not a technical requirement but that it is of high constitutional importance.

    “All the counts did not disclose criminal conduct of what James Ibori did. Nothing in the proof of evidence that support the count against the defendants, second defendant in particular”

    “It is an abuse of the court to file a criminal charge against the defendants in a case where the proof of evidence does not support the alleged charge.

    Such a proceeding would be oppressive”, he submitted.

    Akinosun, who is the counsel to fifth defendant alligned himself  with the submission of Layonu and Oyetibo.

    He also urged the court to quash the charges on similar grounds.

    Justice Lawal-Akapo however adjourned the matter till July 14 to enable the court to hear submissions of the other two defendants in the case.

  • Court acquits ex-Labour Minister, other of money laundering charges

    Reprieve came the way of former Works and Housing Minister Hassan Lawal and another yesterday as a Federal High Court in Abuja discharged and acquitted them of charges of conspiracy and money laundering.

    Justice Adamu Bello, in a ruling, held that the prosecution failed to prove the “essential elements” of the charge proffered against them.

    The Economic and Financial Crimes Commission (EFCC) in 2011 arraigned Lawal and an official of the United Bank of Africa (UBA), Adesanya Adewale before Justice Bilikisu Aliyu on a 10-count charge of conspiracy and money laundering.

    The case was later reassigned to Justice Bello because Justice Aliyu was transfered outside the Abuja division. The charge was amended to 11 counts.

    Upon the challenge of some portions of the charge by Lawal and Adewale, the court on June 22 last year, struck out counts three, six and nine on ground of duplicity.

    Yesterday, Justice Bello upheld the arguments by Lawal and Adewale on the no-case submission they made shortly after the prosecution closed its case, having called five witnesses and tendered seven documentary evidence.

    Lawal had argued that the money paid on four occasions into his account with UBA were in repayment of a loan he acquired from the bank to buy a residential property in Asokoro from the EFCC.

    The property on 34 Mamman Nasir Street, Off T. Y. Danjuma Street was one of the properties seized from convicted criminals by the EFCC which were later sold to public officers.

    The judge, who queried the quality of investigation conducted by the EFCC, held that the commission failed woefully to prove its case against the accused .

    They were accused of conspiracy and laundering about N43.4million into Lawal’s UBA account between 2008 and 2010.

    The judge held that, to prove the crime of money laundering, they ought to establish that the source of the money allegedly laundered was from crime or illegal act.

    Justice Bello held that having failed to prove that the various sums paid into the account were from criminal or illegal acts, the charge of money laundering can not hold.

    The judge noted that even when Lawal stated in his statement that the monies were from the sale of some of his assets, the EFCC’s investigators failedto investigate the claim.

    The judge also noted that most of the payments were made while Lawal was the Minister of Labour and Productivity, hence the claim that he laundered funds meant for a contract awarded by the Ministry of Works and Housing could not be true.

    The court having held that the EFCC failed to provide sufficient evident to prove its case, Justice Bello discharged and acquitted Lawal and Adewale from the remaining eight counts in the charge.

    “There is therefore no evidence before me to prove the offence of money laundering brought against the accused persons.

    “I have no need to call on them to enter their defence. They are entitled to be discharged. They are hereby discharged and acquitted,” Justice Bello held.

  • MTN charges football scholars to be good Ambassadors

    MTN charges football scholars to be good Ambassadors

    The Nigerian leading communications company, MTN, has charged the winners of the last year edition of the MTN Football Scholars to be good ambassadors of not only their families, but also the MTN brand and the country as a whole. This was at the send forth dinner organised for the successful candidates who are leaving for various US and Canadian Universities this September at the Victoria Crown Hotel, in Victoria Island, Lagos on Saturday.

    Saidat Mohammed-Lawal, Senior Manager, Consumer Marketing, MTN while speaking on behalf of the telecommunications company, encouraged the young boys to be good representatives of the country. “At MTN we realise that people have passions for different things, that is why we support music and sports, with MTN Football Scholar we have decided to support the passion of teeming Nigerian youths, that is why we are supporting their education careers through their passion, which is football. In the first season we sent out four football scholars, now we are sending out eight, and we look forward to end out more in the ongoing season 3. Only thing I will like to tell our brothers that are going out now is to be good ambassadors of themselves, families, the brand and the nation as a whole” she declared.

    Meanwhile, the young boys who are leaving for various universities in the US and Canada has continued to express their gratitude to MTN for the opportunities. The boys who spoke unanimously, in the presence of the visiting scouts and football academics from United States stated that it was indeed a dream come true.

    Oyeniyi Adebare, a graduate of International College, Wasinmi, Ogun State who has secured admission to Skidmore College in the US and Precious Ozoh, from Government Secondary School, Aso Pada, Nassarawa, who has also secured admission through the MTN Football Scholar initiative in the Season 2 to Holderness School also in the United States, said words will never be enough to express their feelings at the moment.

    The trials for the ongoing season 3 edition ended in at the Legacy pitch of the National Stadium, Lagos, on Sunday, with forty young academically sound football talents who were picked from the nationwide trials in the sit cities of Port Harcourt, Enugu, Benin, Akure, Abuja and Lagos slugged it out in the presence of indigenous and foreign coaches and scouts for a placement in the academic which will usher in the process for final winners in the season 3.

  • Court rejects Kabiru Sokoto’s prayer to quash charges

    The suspected mastermind of the 2011 Christmas Day bombing at St. Theresa Catholic Church, Mandalla, Niger State, Kabiru Umar (aka Kabiru Sokoto), yesterday lost the bid to quash the charge against him.

    Justice Ademola Adeniyi of the Federal High Court, Abuja, dismissed Umar’s application challenging the jurisdiction of the court.

    His lawyer, Adamu Ibrahim, argued that the court lacked the territorial jurisdiction to try the charge against his client on the grounds that, based on the constituent elements of the charge, the court in Abuja is not the proper trial venue.

    Relying on the Appeal Court’s decision in the case of Ibori and the Federal Republic of Nigeria, Ibrahim contended that since the bombing, for which his client was charged, took place in Sokoto and Niger states, the Federal High Court in Abuja is not the appropriate trial venue.

    He also urged the court to quash the charge against his client on the grounds that no prima facie case was made against him.

    But prosecution lawyer, Mrs Chioma Onuegbu, argued that the Court of Appeal, in its decision in the Ibori case, did not remove the powers of the Chief Judge of the Federal High Court (FHC) to assign cases.

    The judge, who took arguments from parties on the accused’s bail application, fixed May 9 for ruling.

    Umar was arraigned on April 19 on a two-count charge bordering on acts of terrorism.

     

  • Lam-Adesina charges Eagles to win

    Lam-Adesina charges Eagles to win

    Oyo State Commissioner for Youth and Sports, Dapo Lam-Adesina has charged the Super Eagles of Nigeria to go all out against the Stallions of Burkina Faso and ensure they win the African Cup of Nations’ trophy on Sunday.

    The Commissioner said this in his goodwill message to the Super Eagles of Nigeria who are due to play Burkina Faso in the final of the 29th edition of the African Cup of Nations.

    He said the good people of Oyo State like other sports-loving Nigerians are earnestly praying for the success of the team in the match while also congratulating the team for the success recorded so far despite not being considered as favorite.

    He charged every member of the team to show the true spirit of Nigeria which has been the driving force and a major contributing factor in reaching the final. Winning the trophy at this time, he said, will be good for the image of the country and serve as encouragement to upcoming footballers.

    He particularly praised Coach Stephen Keshi for keeping faith with locally based players who have distinguished themselves.

    Lam-Adesina also praised the effort of the technical crew as well as the Nigeria Football Federation for the support given to the team.

    He said the present administration in Oyo State is willing to partner with the NFF on Football development in the grassroot which has been one of the cardinal programmes aimed at restoring the lost glory of Sports in Nigeria, while also hoping to see one of the National Teams play their home matches in Oyo State.

  • You must answer 38 charges, court tells Daniel

    An Ogun State High Court sitting in Abeokuta, the state capital, yesterday told former Governor Gbenga Daniel that he must answer the 38 charges proffered against him by the Economic and Financial Crimes Commission (EFCC).

    Daniel is on trial before Justice Olanrewaju Mabekoje for charges bordering on breach of trust, fraudulent conversion of public landed property to personal use, failure to declare his assets truthfully and stealing over N211 million while in office.

    According to the EFCC, the N211 million was allegedly stolen in tranches.

    Daniel was accused of building his Conference Hotel in Ijebu-Ode and his Aserudero Court home in Sagamu on landed property designated as judges’ quarters.

    He was also accused of allocating four hectares of Ogun land in Agbara to his wife, Olunfunke, using her maiden name, Olubunmi Opawole.

    The former governor pleaded not guilty to the charges and was granted N500 million bail with two sureties in like sum.

    Through his lead counsel, Prof. Taiwo Osipitan, Daniel applied for the quashing of counts 1-13 of the charge, which bordered on the alleged fraudulent conversion of state landed property to personal use.

    Justifying the application last December 14, when the court heard it, Mr. Tayo Oyetibo (SAN), one of Daniel’s counsel, argued that a Commission of Enquiry set up by the Ogun State government last September had already indicted Daniel on the alleged offences.

    Oyetibo accused the state government of vilifying the former governor by setting up a Panel of Enquiry to probe land allocations made by the Daniel administration.

    He said by not waiting for the conclusion of the criminal procedure in court before setting up a Commission of Enquiry, coupled with the issuance of a White Paper on its findings and publicising it in a national newspaper, the state government had put the court in a difficult situation.

    According to him, counts 1-13 amounts to subjecting Daniel to another round of trial on the same charges and could put him in a situation of double jeopardy.

    EFCC counsel Rotimi Jacobs (SAN) urged the court to dismiss the application, describing it as absurd and a mere ploy by Daniel to further delay the court’s time and process.

    The court adjourned proceedings for ruling on the application till yesterday.

    At the resumed hearing, Justice Mabekoje dismissed Daniel’s application.

    He said: “There is no basis to grant the order sought by the applicant. It is unjust and unreasonable to grant the application. The issue dealt with by the commission is different from the main issue before the court.

    “An indictment by a Commission of Enquiry does not amount to conviction. The accused person was not tried for criminal offences. Only a court of law can try an accused for criminal charges.

    “There is no justifiable evidence to support the argument that the publication is capable of causing double jeopardy. I dismiss the application.”

     

  • Jonathan charges Flamingoes: Win U-17 World Cup

    Jonathan charges Flamingoes: Win U-17 World Cup

    President Goodluck Jonathan has charged Nigeria’s junior women team, the Flamingoes, to go all out and win the FIFA U-17 World Cup in Azerbaijan.

    Tukur Mani, Nigeria’s Ambassador to Iran, who has concurrent accreditation to Azerbaijan, Armenia and Kazakhstan, delivered the President’s message to the team and their officials in Baku.

    The Deputy Head of Mission in Azerbaijan, Garba Bello, said: “Amb. Tukur Mani, while delivering the message of President Goodluck Jonathan to the team and their officials, urged them to excel.

    “President Jonathan said we should boost the morale of the players and inspire them to go far and win the tournament.

    “God willing, the team has started doing what the president urged them to do by beating the host nation Azerbaijan 11 – 0 on Tuesday before their fans.

    “The match of yesterday (Tuesday) was a display of high skill and cohesion in the Flamingoes team.

    “Even in the opening game against Canada, Nigerian girls showed good football, although they drew at the end. It was obvious that Nigeria was a better team than Canada in the game.

    “With the way they are going, our girls will reach the final and lift the FIFA Under 17 World Cup. I have watched all the teams in this competition training and I can say that we have no rival.”

    The News Agency of Nigeria (NAN) reports that the Flamingoes will end their group campaign with a match against Columbia at Bayil Stadium in Baku on Saturday.

    Meanwhile, with her five strikes against Azerbaijan in Tuesday’s 11 – 0 victory, Nigeria’s Chinwendu Ihezuo set a new tournament record for most goals by an individual in one game.

    She overtakes Germany’s Kyra Malinowski and Korea Republic’s Yeo Minji, who each netted four against South Africa and Nigeria respectively during the 2010 edition.

    Only two games into the campaign, Gambia have already equalled the tournament record for goals conceded.

    The record was set by South Africa who shipped 17 in three matches at the 2010 edition.