NYSC Foundation moves to recover over N14.8m debts

ABUJA–The National Youth Service Corp (NYSC) Foundation has said it had become imperative for it to recover over N14.8 million debts, arising from soft loans granted ex-corps members over the years, for it to fulfill its purpose.
The foundation established in 2008 was a voluntary organisation that could be joined by any ex-corps members with N500 registration fees to have access to soft loan, if they have marketable business plan.
The Executive Secretary of the foundation, Mr. Adebanjo Akinnigbagbe, said that the only way to keep the loan facility alive was to recover the debts owed by beneficiaries which according to him, was taken from a revolving loan.
Akinnigbagbe, who disclosed this at the 2016 Desk Officers Workshop held in Abuja, charged desk officers to assist them in monitoring the beneficiaries to respect the agreement they had with the foundation.
His words; “In view of a great sore the foundation has, I want to remind the old desk officers and inform the new ones about a decision taken at our last meeting in 2013. This is the effect that desk Officers should assist in monitoring our loan beneficiaries who, as at today, owe us N14,808,000.00.
“This assignment has become even more relevant and of great importance to the foundation today because it is the money taken from a revolving loan and in order for the purpose it is serving not to collapse, those owing us should be visited and made to fulfill their obligation by paying up.”
The Chairman Board of trustees, NYSC Foundation, Mr. Abubakar Abdullah expressed their readiness to continue the soft loan facility, in spite of low demand.
He noted that only N6 million out of the sum of N10 million set aside as loan for beneficiaries was utilized so far.
“We still have that four million remaining, the board has not met to decide how much we are going to add but at worst we have something from last year and we will add another for this year.”
The NYSC Director of Corps Mobilisation, Mr Anthony Ani has called for partnership from organisations to aid NYSC in achieving its mandates.
“More than any other time this is when NYSC needs help because the population of corps members coming in is increasing by the day and government cannot do everything especially now that the resources of government is dwindling.
“This is the time we need serious partnership not just with the foundation but with any organisation that can help NYSC,” he said.

FUOYE Hostel Allocation Registration Guideline – 2015/16

Federal University, Oye-Ekiti, FUOYE hostel allocation registration guide for the 2015/2016 academic session fresh and stale undergraduate students.
The allocation of bed spaces for 2015/2016 academic session will take the underlined sequence for the new and returning students of the Federal University, Oye-EKiti (FUOYE):
1.Only new students (UTME& DIRECT ENTRY) are eligible for bed spaces in Oye Campus while, 200-400 level students are eligible for bed spaces in Ikole Campus.
2.Interested candidates should collect, complete and submit application form from and to the Student Affairs Division after his or her screening in the Academic Affairs Unit.
3.Access to registration for an allocation of bed spaces is on the basis of first come first served.
4.Approved Candidates are expected to pay the approved accommodation levy ofThirtyThousand Naira only (N30, 000)with Bank draft in favour of FEDERAL UNIVERSITY, OYE EKITI
5.Payment is expected to be made within three (3) days of approval of eligibility to avoid forfeiture of space.

UNIZIK 2015/2016 2nd Supplementary Admission List Release

UNIZIK 2015/2016 2nd Supplementary Admission List Release.

This is to inform members of the public, especially all candidates who duly registered and participated in the Nnamdi Azikiwe University (UNIZIK) 2015/2016 Post-UTME screening exercise that the 2nd supplementary admission list has been released and uploaded on the school portal.

Candidates are expected to check their admission status free of charge on the University portal my.unizik.edu.ng/admissionstatus.
PROCEDURE FOR ACCESSING UNIZIK 2015/2016 2nd SUPPLEMENTARY ADMISSION LIST
i. Candidates should visit; http://my.unizik.edu.ng/admissions /add_m_ur_ind.php
ii. On the landing page, enter your JAMB registered Number in the spaces provided.
iii. Click on the title, “NEXT” to check your admission status.
The University administration warns that admission into the University is strictly on merit. Beware of anybody requesting you to pay money for this purpose or asking for gratification of any sorts. No one aided you to secure admission.

25-Year-Old Girl Who Just Returned From UK Killed By Danfo Driver In Lagos

Ken Davidson is shattered and that is because his 25-year-old cousin, Doyin Sarah Fagbenro, who just finished two law degrees in the UK has been killed in Lagos by a danfo driver.
See the moving tribute he wrote for her:
DSF: Tribute To A Shining Starlet. Oh death! Where is thy sting? O grave, where is thy victory? Another Casualty of a broken and failed State. Your story is particularly Gut Wrenching as it is equally heartbreaking.
You spent near enough all but two of your 25 years on earth in the Country of your Birth, the United Kingdom where your Parents and entire family reside.
You were born, bred and educated in the United Kingdom. But two years ago, immediately after you graduated, you elected to visit Nigeria where your Grandparents reside – both of whom are in their Mid Eighties.
You signed up for the National Youth Service having freshly graduated with a sterling First Degree in Law and a Post Grad immediately afterwards. You were headhunted by an Energy Firm before you completed your NYSC and a presto you gallantly announced to your Nervous Parents – Dad a Diplomat with the United Nations based in Italy and Mum a Pharmacist based in the United Kingdom, your country of Birth – that you were going to permanently relocate and make Nigeria your permanent abode. Your Grandparents were ecstatic, you being their most favourite Grand Daughter.
You were a straight A student right from when you passed your GCSEs through to when you excelled in your A’levels…so much so that Prestigious Queen Mary’s London University snapped you to study Law. You missed a First by whisker’s. Nevertheless you made your mark all the way through. Then it all came crashing down.
What was supposed to be a routine journey to Church on a relatively sombre, otherwise uneventful Sunday morning on the Lekki/Ajah Expressway around the Lekki Phase 1 approach turned into a living and eternal nightmare for those of us left struggling to pick up the pieces. Our lives changed forever, never to be the same again.
A victim of the reckless and probably high on drinks/drugs ‘Danfo’ Driver. The most galling of the entire episode was the fact that the driver of that Danfo survived unscathed, RAN away from the scene leaving a trail of Death and Destruction in his wake. Four people died at the scene. Your New Toyota Corolla was a crumpled wreck. But the Fighter that you were, despite massive injuries, you fought and fought and fought.
Your Dad, via his status at the United Nations, got you into Lagoon Hospital where you were for a few days. When it became clear that the extent of your injuries was too severe for the local facilities here in Nigeria, An Air Ambulance was scrambled from the United Kingdom to get you much needed Specialist Care in the United Kingdom. Your tireless mum who flew in from the United Kingdom, barely 48 hours after the accident, accompanied you in the Air Ambulance. Still we Prayed and Prayed and Hoped for the Best.
Sadly We lost you a day after you arrived in the United Kingdom. The Surgeons tried desperately. You fought desperately to hang on. But in the end, it was not to be. The pain is palpably raw as it is numbling. We asked again and again, Why you? Why You? If only you had stayed on in the country of your Birth, If only…so many questions but very few answers. Your Parents, Your Grandparents, Oh! Your Grandma, with whom you celebrated her 80th Birthday over here in Nigeria a few years ago has refused to eat since she was informed of your passing nearly a week ago…All she repeatedly does is wail, wail to space “God Take Me instead, Give My Granddaughter back to Nigeria. Nigeria Needs Her, Her Parents Need her. God Take me. God Take Me.”.
These are indeed extremely perilous times. And so it was that having just spent barely a few weeks in Nigeria after a prolonged Winter holiday and Christmas in the United Kingdom with family and friends, I now find myself in the rather unenviable position of scrambling for the next flight out back to the United Kingdom just so that I can attend your Funeral this weekend. Someone retorted to me “Oh, you know, ‘our tradition’ forbids older relatives attending and being present at funerals where the deceased is much younger than us…” I snapped back, which tradition? And what has tradition ever done for us? What did Tradition ever give to HER?
I am here like a Zombie, mechanically and circuitously packing a few items for my flight out in the morning. The Family has decided that yours would be a Celebratory Sending Forth, so RED rather than the traditional Grey, Black would be the colour to be worn on the Day. DSF as you were very fondly called, you touched so many lives in the quarter century, (twenty five years only!) you ran your race on earth.
You were considerate to the end so much so that you waited until you got back home – nearer your parents and many siblings – before you finally bade the World Farewell. Doyin Sarah Fagbenro, My Learned Friend in the Profession, My lil Sister, My Cousin, Sleep Well till we meet again. O Death! Where is Thy Sting!

National Teachers InstituteNTI shares 24 vehicles to state coordinators

National Teachers Institute(NTI) has distributed about 24 vehicles to State Coordinators across the country to enable them carryout their field work efficiently.
The Director General of the institute,Dr Aminu Ladan Sharehu, who distributed the cars, said one vehicle will be given to a zonal and state coordinator.
Sharehu said the vehicles will enable the field officers to carry out their functions efficiently.
The DG also commissioned centres such as; Strengthening Mathematics and Science Education Multipurpose hall, E-learning Centre, Centre, Centre for Strengthening Mathematics and Science Education (SMASE), integrated Science Laboratory and Fire Service unit of the institution located at Rigachikun, Kaduna-Zaria express way.
The Vice Chancellor, National Open University of Nigeria (NOUN), Prof Vincent Ado Tenebe, commended the effort of the NTI DG.
Tenebe said the commissioning of the projects would lead to the betterment of teachers across the country.

In Kano: Secondary school student stabs colleague to death

A senior secondary school (SS ll) student of Al-Amin Academy Kano, Usman Salisu has been killed allegedly by his colleague Sadiq Ado, an expelled student of First Grade Comprehensive School.
Salisu, 18, was stabbed by Sadiq with a sharp object suspected to be knife at the front of First Grade Comprehensive School on Monday, Daily Trust learnt.
The deceased died at the Murtala Muhammad Specialist Hospital, Kano where he was taken for medical attention, his relative, Mallam Nasiru Zango, said.
“Usman was sent for errand and directed to stop over at his former school First Grade Comprehensive School where his brother is schooling.

"He was to waits for our driver to take them home after the school hours,"Zango explained.
Daily Trust was told that Sadiq also arrived at the school looking for one Mustapha Yellow whom he (Sadiq) had misunderstanding with. An argument was said to have ensued between Usman and Sadiq after which the latter pulled out a knife and stabbed Usman.
Confirming the incident, the Police Public Relation Officer of Kano command, DSP Magaji Musa Majia, said the suspect Sadiq Ado had been arrested by the police in connection with the murder.

An Appeal Letter to The VC Of UNILORIN By An Admission Seeker

I am writing this formally to appeal to you to use your good office to release the next approved list by JAMB As soon as possible as JAMB has approved 1200 more names.
We waited for so long before the first and second list was released and now it is the next list.I wonder how much time we would wait for.
It seems Unilorin has been forgetful about us and has surely thrown us into exile of frustration since we have to retake jamb form.
To wait a year more is not an easy thing and education is our priority.i wish u could see the red eyes of the aspirants in which some of us are sick and heart broken,some are at the point of killing themselves.please help us sir.
A list was released last week and it was said that the wealthy ones were admitted while the poor aspirant has not been admitted.
We have less than eight days to matriculation and the admission list is not yet released. This has caused chaos among aspirants.
Finally, I am using this medium to plead once again for you to release the list for God's sake.
Thanks
#unilorin aspirant

Fed Poly Ado-Ekiti 2nd Admission List 2015/2016 Released

This is to inform all 2015 aspirants of Federal Polytechnic Ekiti that the 2nd list and the change of course list of admitted candidates into the institution for 2015/2016 session has been released.

The list is not available on the school's site but can be viewed on the school's notice board.

NYSC Notice To Part-time Graduates

This is to inform all Part-Time Graduates that wish to get NYSC exclusion certificates, that they should go online to register like their full-time counterparts and print their letters of Exclusion Online.
This directive is from the management of NYSC.

UNIBEN-NILS Postgraduate Admission Form is Out – 2015/16

gUniversity of Benin, UNIBEN in affiliation with National Institute for Legislative Studies, NILS admission into postgraduate programmes for the 2015/2016 academic session.
The University of Benin, in affiliation with the National Institute for Legislative Studies (NILS), Abuja, offers programmes leading to the award of masters degrees in Legislative Studies and Legislative Drafting. NILS is the capacity building organ of the National Assembly; it was established by an Act of Parliament. It works to support and strengthen the legislature in the pursuit of the ideals of democracy through research, training, legislative support, advocacy and networking.
Applications are hereby invited from suitably qualified candidates for admission into the legislative Postgraduate programmes of the University of Benin/National Institute for Legislative Studies. The University of Benin awards the degrees while the programmes are run at the facilities of the National Institute for Legislative Studies in Abuja by academic staff of the two institutions and renowned practitioners in the democratic and legislative process.
THE POSTGRADUATE PROGRAMMES OFFERED:
Masters Programmes
1.Masters in Legislative Studies (MLS)
2.Masters in Legislative Drafting (MLD)
3.Masters in parliamentary administration
Candidates are to purchase application forms online with any valid VERVE OR MASTER ATM OR CASH CARD for the sum of N12,050.00.
1.Go to the uniben.eduand click on Student Portal
2.Under applicants menu, Select the NILS POSTGRADUATE PROGRAMMES 2015/2016
3.Fill out the required information correctly following instructions given on application page,
4.Attach a recent coloured passport photograph. Note: Only Passport with RED BACKGROUND is accepted
5.Male the required payments using any valid ATM card from any commercial bank in Nigeria. This is done by creating a ticket under payments and then using COLLEGEPAY; provide the relevant card details to facilitate the payment.
6.You can SAVE your application and come back to it as many times as required before FINAL SUBMIT. Use your application login and password to log back in at any time.
7.Submit application online after ensuring that you are satisfied with information provided
PLEASE NOTE:
*.The following documents will be printed out from the Website:- APPLICATION ACKNOWLEDGEMENT SLIP,, REFEREE, AND TRANSCRIPT REQUEST FORMS.
*.Any form not properly filled will not be treated.
*.All application processes must be completed on or before Monday 29thFebruary, 2015.

UNILORIN Extends Pre-Degree Form Closing Date – 2015/16

application form new closing date – 2015/2016 academic session.

Authority of the University of Ilorin (UNILORIN), School of Preliminary Studies, has announced a new closing for the 2015/2016 academic session remedial programme admission application form.
UNILORIN pre-degree/remedial admission form that was earlier scheduled to close on 3oth December, 2015, has been scheduled for 27th January, 2016.

University of Ilorin the BETTER BY FAR UNIVERSITY.

National Open University of Nigeria " NOUN" Academic Calendar (2016)

Academic Calendar
Month
Activit y
Possible Duration
Block Dates
December, 2015
Senate
Dece mber, 2015
January
Registration for Courses and Examinations by both Fresh and Returning Students commences
11 thJanuary, 2016
January
Convocation
15 thand 16thJanuary, 2016
January
Facilitation commences
18 thJanuary, 2016
January
Course Registration ends
4 weeks
12thFebruary, 2016
February
1stTMA
2 weeks
8thFebruary, 2016
February
Orientation of Fresh Students
9 th& 10thFebruary, 2016
February
Matriculation Ceremony
20 thFebruary, 2016
February
Inaugural Lecture
Febru ary
Senate
23 rd February, 2016
February
2ndTMA
4 weeks
15thFebruary, 2016
February
3rdTMA
26thFebruary, 2016
March
4thTMA
11thMarch, 2016
March
Registration for Examination closes
11 thMarch, 2016
March
Facilitation ends
13 thMarch, 2016
March
Examinations begin
8 weeks
21stMarch, 2016
March
Inaugural Lecture
April
Senate
May
Exami nations end
13thMay, 2016
May
Marking of PoP begins
6thMay, 2016
May
Marking of PoP ends
27thMay, 2016
May
Collation of PoP & e-exams results ends
3 rdJune, 2016
May
IT/SIWES Supervision begins
14 thMay, 2016
May
Inaugural Lecture
June, 2016
June
Senate
June, 2016
June
Release of Examination Results
14 thJune, 2016
June
IT/SIWES Supervision ends
15 thJune, 2016
June
Registration of students commences
4 weeks
27thJune, 2016
June
Orientation of fresh students
28thJune to 29thJune, 2016
July
Matriculation Ceremony
29th – 3rd July
2ndJuly, 2016
July
Facilitation commences
4 thJuly, 2016
July
Inaugural Lecture
July
Senate
July
Registr ation of students ends
22 nd July, 2016
August
1stTMA
8 weeks
26thJuly, 2016
August
2ndTMA
8thAugust, 2016
September
3rdTMA
22ndAugust, 2016
September
4thTMA
15thSeptember, 2016
September
Facilitation ends
16 thSeptember, 2016
September
Examinations begin
8 weeks
26thSeptember, 2016
September
Inaugural Lecture
Octob er
Senate
Nove mber
Marking of PoP begins
11thNovember, 2016
November
Examinations end
18thNovember, 2016
November
Marking of PoP ends
25thNovember, 2016
November
Collation of PoP & e-Exams results end
1 stDecember, 2016
November
IT/SIWES Supervision begins
19 thNovember, 2015
November
Inaugural Lecture
Dece mber
Senate
Dece mber
Release of Results
2 ndDecember, 2016
December
IT/SIWES Supervision ends
20 thDecember, 2016

UniJos ASUU Suspends Strike after 91 Days

University of Joshas called off its Strike which has lasted for 3 months today. The University of Jos chapter of Academic Staff Union of Universities ASUUhad embarked on the strike action since October 23rd following their demand, among other things, the disbursement of their earned academic allowance as well as the payment of postgraduate supervision allowance has seen students of the Institution at home for 91 days.
Newsabout the strike being called off was reported via @UniJosBreaking, a Twitter account used by the School's administration in getting info to the public.
The strike got called off after the Minister for Youths and Sports, Mr. Solomon Dalung interfered between the warring factions. Mr Dalung until his appointment as a Minister was a member of ASUU Unijos Chapter.
University of Jos 91 days old ASUU Strike suspended.
— UNIJOS BreakingNews (@UNIJOSBreaking)

#UPDATED NYSC MOBILIZATION TIME TABLE FOR 2016 BATCH A

The NYSC management today updated the earlier
released Batch A 16 mobilization timetable and
from the new timetable the dates have been
shifted forward. Online registration now starts 8th
Feb and ends 28th Feb.
However there is still silence about the most
important date which is the orientation date.
Check full timetable below:
1. 2015 Batch B post-mobilization workshop
19th – 21st November 2015
2. 2016 Batch A pre-mobilization workshop.
5th – 9th January 2016
3. Briefing of corps Members/ final year students.
12th – 16th January 2016
4. Display of list of all approved programmes for
institutions on NYSC portal for cross checking
11th – 15th January 2016
5. Collation of Prospective Corps Members’ Data
by Corps Producing Institutions CPIs
11st – 18th January 2016
6. Submission/Uploading of Senate/Academic
Board Approved Result for Full/Part-Time
Graduates and Revalidation Lists by CPIs
18th – 30th January 2016
7. Uploading of Corrected Lists by Corps
Producing Institutions
18th – 30th January 2016
8. On-line Registration by Foreign and locally
Trained Nigerian Graduates 8th – 28th February
2016
9. Entertainment of complaints from Prospective
Corps Members by the state Deployment and
Relocation officers and NYSC Help Lines/Desks
officers
8th – 27th February 2016
10. Forwarding of Complaints to Mobilisation Dept
by State Deployment and Relocation officers
8th – 27th February 2016
P

80 students escape death in hostel fire in Anambra

No fewer than 80 students have been displaced from their boarding houses at the Don Bosco Secondary School and Youth Centre, Obolo Obosi, near Onitsha following a fire incident. The fire destroyed the two-winged structure, beddings and the entire roof of the building worth millions of naira.
It was gathered that the officials of the fire service who were alerted would have contained the inferno, but could not access the premises on time due to bad road. Speaking after conducting news men round the debris of the inferno, the Rector of the school, Rev. Fr. Charles Uzoeto, confirmed that the property of the students could have been saved, but the fire service could not access the premises, revealing that the fire broke out while the students and teachers were in school. “After meandering through the markets with all the difficulties, before they came here, we were already counting our losses.

NYSC Bars Posting Engineers To Teach In Secondary Schools

The National Youth Service Corps has concluded plans to halt the posting of engineers to secondary schools and other places of primary assignment different from Engineering Institutions. The agreement was reached by the Directorate of NYSC and Council for the Regulation of Engineering in Nigeria (COREN).

Speaking at the Pre-Inauguration stakeholders’ workshop of the 30th President of the Nigerian Society of Engineers held yesterday in Abuja, the President of COREN, Engineer Kashim A. Ali, disclosed that the Council has secured an agreement with the Director General of NYSC to what he referred to as prevention of wrong training of Engineers. He also said that the Director of Mobilization of NYSC has also been notified of the new development and they have fashioned modalities for its success.

Ali said “Posting engineers during their service year to places they will not benefit is depriving them the opportunity of training and by implication the country is losing.

The DG of NYSC agreed with us and directed the Director of Mobilization to ensure that engineers are posted to only engineering institutions.

“To help him, the Director of Mobilization requested that we should assist to give them the names of engineering organizations in all the states of the federation so that when they are doing their posting they will send them to such places.”

In BornoGovernment to establish state University

The Borno State government has awarded a contract of 3.4billion naira for the construction of a state university.
The State Governor, Kashim Shettima, said that this has become necessary to help get the state out of the educational backwardness it has suffered over the years.
Shettima blamed the Boko Haram menace the state is suffering on the absence of education among the youths.
An implementation committee with members extracted from the University of Maiduguri and other institutions of higher learning in the state are already nurturing the project.
The committee is chaired by Professor Abubakar Mustapha who has also expressed worry about the inability of indigenes to favourably compete with admission requirements with applicants from other parts of the country.
Equipping the state university and obtaining accreditation from the National University Commission is part of the Terms of Reference of the committee.

In DeltaSecondary school students suspended over homosexuality

The management made this decision to not only ensure the institution progresses, but to also serve as a deterrent to others.

Three students at theGovernment CollegeUghelli have been indefinitely suspended for partaking in homosexual activities.

According toVanguard, this was disclosed yesterday during the reunion and Annual General Meeting of the Old Boys Association, GCOBA.

The school principal, Mr. Vincent Useh, the management made this decision to not only ensure the institution progresses, but to also serve as a deterrent to others.

President General of the association, Professor Omatete Oristsegbemi, advised parents to be diligent in the upbringing of their wards, adding that the association would not condone any act of indiscipline from any student.

UNILAGStudents barred from entering hostel

The students were asked to evacuate their rooms because the school will be hosting some ECOWAS students.

SomeUniversity of Lagos, UNILAG, students have been barred from entering their hostel, according to report by TheNation.

Residents of theHenry CarrHall at the (UNILAG) were on Monday, January 18, were denied access into their hostel.
Electricity was cut off around 11am and water supply stopped at 4pm. The hall has three blocks of rooms and houses Masters and Doctorate degree students.
It was reported that the students were served a quit notice on January 12 which was effective on January 14. The students, however, had not returned from holidays when the notice was served.

But when a new notice was served, the date had changed.
The notice reads: “Following the memorandum received from the Dean of Students Affairs (a photo copy is hereby attached) today concerning the notice of evacuation from the Hall of Residence, we, members of the Hall Management Committee (HMC), wish to formally appeal to you and all the students to please obey the directive of the Dean. You will assist us to be instrumental to its obedience because it has to be obeyed immediately. The directive has been given since Monday, January 11, 2016. Administratively, we expect everyone to have evacuated the Hall latest on Monday, January 18, 2016.”
This information infuriated the students whose rent was supposed to elapse in March.
The students were asked to evacuate their rooms because the school will be hosting some ECOWAS students. They eventually had a meeting with some university officials, including hall executives and hostel officers.
A student, who did not want to be named, said the executives were still trying to come to an agreement that would favour everyone.

“The students were told to vacate the hostel but the session is not over. Some of us are not through with our exams and some of us come from long distances. We want the school authority to allow us stay till January ending. I believe they were in a tight corner yesterday because of the ECOWAS students’ arrival. We would be having a congress tonight (Tuesday) to discuss our options”, he said.
A female student, who is yet to begin her exams, wondered how she is going to cope.

“Where do I start looking for accommodation now when my exams are close by and how do I combine searching for accommodation and reading for exams? I don’t really know what to do,” she said.

Nigerians Will Henceforth Pay N50 To The Federal Govt, Each Time They Receive Payments In Their Accounts

Federal government through the CBN, yesterday imposed stamp duty of N50 on bank customers for money received into their accounts.
Consequently, bank customers will henceforth pay N50 stamp duty for money received into their accounts via electronic transfer, cash and cheques.
This order was contained in a circular to all Deposit Money Banks and Other Financial institutions titled, Collection and Remittance of statutory charges on receipts of Nigeria Postal Service under the Stamp Duties Act”.
The CBN stated, “As part of efforts to boost its revenue base, the federal government of Nigeria is exploring revenue opportunities in the non-oil sectors especially taxes and rates. .
It is in recognition of this fact that banks and other financial institutions are enjoined to support government’s revenue drive through compliance with the provisions of the Stamp Duties Act, LFN 2004 as reinforced by the court judgement in Suit No FHC/L/CS/1710/2013.
In this regard, the CBN pursuant to the provisions of its enabling laws, hereby issues this circular to all DMBs other financial institutions:
“With immediate effect, all DMBs and other financial institutions shall commence the charging of N50 per eligible transaction in accordance with the provisions of the Stamp Duties Act and Federal Government Financial Regulations 2009, that is, all receipts given by any bank or other financial institution in acknowledgment of services rendered in respect of electronic transfer and teller deposits from N1, 000 and above; “For all avoidance of doubt the following receipts are however exempted from imposition of stamp duties: payments of deposits or transfer by self to self whether inter or intra bank; and any form of withdrawals/transfers from saving accounts; It should be noted that these charges are only payable by receiving accounts;
“Each DMB shall open an account designated as NIPOST Stamp Duties Account into which all charges collected shall be paid.
The balances in such accounts shall be transferred monthly by the DMBs to CBN NIPOST Stamp Duty Collection Account No. 3000047517;