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Outcry In Abuja As FCTA Asks Business Owners To Pay For Using Generators

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Business owners within the Federal Capital Territory, Abuja have decried transfer by the Federal Capital Territory Administration, FCTA to impose levy on firms for utilizing turbines to energy their companies.

Some officers of AMAC believed to have been contracted by the FCTA, have been seen in some components of town distributing cost notices to a number of organizations together with DAILY POST.

In response to the discover signed by the Director Public Well being, HoD Atmosphere of AMAC, Ahmed Haruna, the Administration of Abuja Municipal Space Council Environmental Companies (ESD) Our bodies, mentioned industries, warehouses, Banks are to pay annual payment for utilizing generator because of the discharge of dangerous hazardous substance.

The discover reads, “Administration of Abuja Municipal Space Council Environmental Companies (ESD) Our bodies, needs to inform you of levy/charges resulting from Abuja Municipal Space Council for Gaseous Emission Allow Restrict. This consists of discharge of dangerous hazardous substance into the air or the land and the water in Nigeria by the actions of industries, warehouse, Financial institution, both from generator or heavy obligation, drilling, manufacturing, development and manufacturing equipments, filling station, ETC.

“That is according to the supply of part (2C) of the forth schedule to the Structure of the Federal Republic of Nigeria as amended below the perform of the Native Authorities Authority and Federal Environmental Safety Company Act (FEPA) Part 25 which established the Native Council Authority to, regulate, implement and assortment of levies for the curiosity of public well being significance (welfare) part 18, 20, 21, 26and 27 and different related legal guidelines Nationwide Environmental Well being Observe Regulation 2016 which confers on the council the ability to control, examine, management and assortment of levies.

It additionally threatened to punished and cripple organizations that violate the order.

“Additionally observe that failure to adjust to this forgoing regulation is punishable offence and we are going to seize the actions of the group and arrest as prescribe partially iV Part 27 Subsection 1 abcd and (2) of FEPA ACT 1992”.

However when DAILY POST engaged the officers distributing the notices on what the FCTA administration had put in place to safeguard lives in Abuja from it termed hazardous substance, they had been unable to clarify.

When contacted, an admin of the AMAC who recognized herself as Peace, mentioned this system was accredited by the Federal Authorities.

She mentioned, “is a levy accredited by the Federal Authorities that who ever is working enterprise in Abuja ought to pay. And it’s to be paid yearly”.

She, nonetheless, declined additional feedback when requested to present particulars of the cost.

In the meantime, many residents of the FCT are fearful that town’s administration might cripple companies attempting to outlive amid the present financial actuality with it’s quite a few taxes.

In per week, small companies in Abuja had acquired not less than 4 to five cost notices from AMAC. However residents have noticed that the administration has put nothing in place to justify the quite a few taxes imposed on companies and people.

They expressed concern that an administration amassing tax for emission from generator ought to have made entry to medical amenities simple, lamenting that medical payments in Abuja hospitals stay very excessive throughout all hospitals.

Additionally they argued {that a} authorities that might not generate sufficient energy for individuals to run their companies shouldn’t be taxing residents and enterprise house owners who wrestle each day to run their companies with an alternate energy supply.

A few of them cautioned the FCTA to cease stifling companies in Abuja with taxes when improvement stays stagnant. “How will you tax us for emission however can’t present an alternate vitality supply? That is draconia,” a enterprise proprietor informed DAILY POST in Utako.

A supervisor of a preferred firm in Apo, Abuja who most well-liked no to be talked about in print, informed DAILY that the event is conceivable. He described the discover as a transfer by the federal government ro cripple companies in Abuja.

He lamented why a authorities would provoke such a coverage amid the present hardship ravaging your entire nation.

“One query I’ve been asking is, why do enterprise house owners use turbines? Is it not as a result of the federal government failed to offer electrical energy for us? Then after failing to do your job, I selected to assist myself with generator to energy my agency with an enormous bills and also you are actually coming again to ask me to pay for that? That isn’t regular.

“That is only a means of extorting cash from poor residents. They’re speaking about well being, do they even care in regards to the healthcare system? What have they put in place concerning healthcare? What are they going to realize with the cash now concerning the well being points they’re claiming? Nothing.

“Companies are presently struggling. Some have even closed down because of the horrible impact of COVID-19 lockdown in 2020 and a authorities goes about extorting cash from enterprise as small as mine. That is an evil agenda.

When requested if his group is getting ready to pay the levy, he merely mentioned, “We don’t have cash for that, I’m sorry.”

Managing Director of a preferred trade in Abuja, Dr Obi Ugochukwu mentioned regardless of all taxes imposed on residents, there are not any seen tasks within the territory.

“There are comparatively no social facilities within the metropolis. We survive on our personal. Generally, I’m wondering what they’re really utilizing the cash for.

“If you happen to drive via most components of town, one can find out that even the road lights will not be working. The satellite tv for pc cities do no even have it in any respect. So the place is the cash channeled to?

“Now we have dangerous roads in Abuja right here. Go to locations like Bwari Space Council and see. How would companies transfer when individuals discover it troublesome to convey their merchandise and merchandise to the place they are often marketed?

“Sure, you’re taxing individuals on generator emission, however you have to have put issues in place first. What number of public well being amenities are you able to level to notably within the satellite tv for pc cities the place many of the enterprise house owners reside? Even within the metropolis centre, how reasonably priced are hospitals?

“No single factor is sponsored within the metropolis because of the taxes being collected by the administration. This can be a capital metropolis the place you can’t afford hospital invoice on your wards” he mentioned.

DAILY POST recollects that the FCT Minister of State, Dr Ramatu Aliyu, a couple of days in the past, disclosed that the FCT administration spent about N8 billion yearly on waste administration within the Federal Capital Metropolis (FCC) and the satellite tv for pc cities.

The Minister, in an announcement on Sunday claimed that the Abuja Environmental Safety Board (AEPB) spent a mean of N6 billion, whereas the Satellite tv for pc Cities Growth Division (STDD) expended N2 billion on waste administration yearly.

However a respondent who owns a enterprise in Wuse however resides in one of many satellite tv for pc cities, informed our correspondent that his neighborhood contributes cash month-to-month for waste administration.

He additionally said that no authorities in any a part of the world would tax residents with out giving them the advantage of these taxes.

“We pay a minimal of N3,000 month-to-month to those that come to choose waste from our neighborhood for recycling. They often include their autos and we pay them for the providers. That is one thing the federal government ought to have used to generate energy. The waste itself might be transformed to a different supply of vitality however would they suppose in that path?

“The federal government cannot deal with the principle metropolis and abandon the satellite tv for pc cities the place a few of these entrepreneurs reside. You deserted them within the satellite tv for pc city and once they come to town to do their companies, you cripple them with pointless taxation. How would they survive?

He described the event as an obnoxious coverage by the FCTA. He expressed shock that the administration is implementing such a coverage below the watch of the FCT Minister, Mohammed Musa Bello, a younger politician who remains to be aspiring for different management positions.

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Dollar To Naira Exchange Rate Today 25 September 2021 (Black Market Rate)

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Dollar to Naira exchange rate today 25 September 2021, black market rate can be accessed below.

 

JomogNews Nigeria has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

 

How Much Is Dollar To Naira Exchange Rate Today Official Rate?

 

September 25 dollar to naira official exchange rate: $1 = N414.90

The exchange rate between the Naira and the US dollar according to the data posted on the FMDQ Security Exchange where forex is officially traded showed that the naira opened at N414.90 per dollar on Saturday, 25 September 2021, after it closed at N414.90 per $1 on Friday, 24 September 2021.

This represents a change of 0.00%.

 

How much is exchange rate of Dollar to Naira in Black Market today?

The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market).

 

LAGOS PARALLEL MARKET RATES September 25, 2021 (BLACK MARKET)

 

September 24 dollar to naira black market exchange rate: $1 = N575

 

Lagos parallel market (black market dollar exchange rate today)

The local currency opened at N575.00 per $1 at the parallel market otherwise known as the black market, today, Saturday, 25 September 2021, in Lagos Nigeria after it closed NN575.00 per $1 on Friday, 24 September 2021. This represents a change of $0 from the previous day.

JomogNews Nigeria reports that the black market, the players buy a dollar for N570 and sell for N575 on Saturday morning, September 25, 2021, after they bought N570 for and sold N575 the previous day.

Meanwhile, JomogNews Nigeria reports that the USD started this week at ₦550 in Parallel Market also known as Black Market on Monday, September 20, 2021 in Ogba while in Ikeja it started at N575.

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Dollar To Naira Exchange Rate Today 24 September 2021 (Black Market Rate)

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Dollar to Naira exchange rate today 24 September 2021, black market rate can be accessed below.

JomogNews Nigeria has obtained the official dollar to naira exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC) rate, and CBN rates.

 

How Much Is Dollar To Naira Exchange Rate Today Official Rate?

 

September 24 dollar to naira official exchange rate: $1 = N413.14

The exchange rate between the Naira and the US dollar according to the data posted on the FMDQ Security Exchange where forex is officially traded showed that the naira opened at N413.14 per dollar on Friday, 24 September 2021, after it closed at N413.68 per $1 on Thursday, 23 September 202

This represents a change of 0.00%.

 

How much is exchange rate of Dollar to Naira in Black Market today?

 

The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows:

For the Lagos market (black market).

 

LAGOS PARALLEL MARKET RATES September 24, 2021 (BLACK MARKET)

 

September 24 dollar to naira black market exchange rate: $1 = N575

Lagos parallel market (black market dollar exchange rate today)

The local currency opened at N575.00 per $1 at the parallel market otherwise known as the black market, today, Friday, 24 September 2021, in Lagos Nigeria after it closed N572.00 per $1 on Thursday, 24 September 2021. This represents a change of $3 from the previous day.

JomogNews Nigeria reports that the black market, the players buy a dollar for N570 and sell for N575 on Thursday morning, September 23, 2021. after they bought N570 for and sold N572 the previous day

Meanwhile, JomogNews Nigeria reports that the USD started this week at ₦550 in Parallel Market also known as Black Market on Monday, September 20, 2021 in Ogba while in Ikeja it started at N575.

 

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All You Need To Know About e-Naira Amid Dollar To Naira Crash

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e-Naira: All information about e-Naira can be accessed below.

JomogNews Nigeria reports that the Central Bank of Nigeria (CBN) is set to launch the eNaira (e-Naira) on October 1, 2021.

This online news platform understands that the proposed launch of the e-Naira (e-Naira), is coming at a time the dollar to naira exchange rate is experiencing instability.

e-Naira: Every information about e-Naira

Let us take a closer look at the eNaira, what it means for you, and how you can position to take advantage of its launch.

What is the e-Naira (e-Naira)?

The e-Naira will be a digit representative of the paper Naira currency issued by the Central Bank of Nigeria. The eNaira will be a “complementary” legal tender in Nigeria, having the same exchange value as the Naira, and maintain a “parity of value” with the Naira. The e-Naira will not earn any interest to holders. The e-Naira is built on a blockchain open ledger technology. Creating the eNaira on the blockchain means you cannot have a duplicate or fake eNaira. Each eNaira note will be unique.

Is the e-Naira a Stablecoin (e-Naira)?

A stable coin is a cryptocurrency backed by reserves. The keyword is reserves, but what kind of reserves? Stable coins are backed by holding an equal equivalent of FIAT money like the US dollar. FIAT means government-issued but usually not backed by any commodity, e.g., gold. Thus a stable coin like USDT is tied to a currency, the US dollar, and maintains a stable exchange value. Note, stable, not immovable. The eNaira technically is linked to the FIAT Naira, but is the Naira stable? Well, not exactly. To be a stablecoin, the eNaira has to be tied to a currency like the US Dollar or Euro or even the Yuan.

e-Naira app Download (e-Naira app Download)

Remember, this is a digital currency and not a physical coin or paper note. As a result of this, you will need a wallet to store the E-naira token. Just like the physical Naira, the CBN will design the e-Naira usage to still pass through regulated financial institutions, in the form of digital cash to individuals and businesses.

Therefore, the app will be provided by individual banks and other financial institutions. The E-naira app will be made available on Android Google Play Store and Apple iOS store.

How safe is the e-Naira (eNaira)?

Think of the e-Naira in this way; you want to send N100 to an uncle in a remote village without a bank branch. A common practice is to buy mobile phone recharge cards of that value, load them to your phone, and text your uncle. Your uncle can then go to any phone card retailer and discount his N100 mobile phone credit for N95. The mobile retailer can redeem the call credits and pay cash because he trusts the person doing the exchange; however, he cannot tell if the mobile numbers are real.

The e-Naira is designed to solve this verification risk by assuring all holders that each e-Naira is a valid token. This authenticity is achieved by building the e-Naira on the blockchain. Thus instead of buying phone credits, I will debit my bank account for N100, convert to e-Naira, and transfer it to my uncle. My uncle can spend the funds directly from his phone or transfer and get cash. Every retailer is more likely to accept the e-Naira because it can’t be easily faked.

How will I get the e-Naira (e-Naira)?

The CBN has planned a rollout in a tiered manner; first, it will issue the e-Naira, to financial institutions like banks. Your bank will then retail the e-Naira to you. If your transaction value is less than N50,000 a day, you don’t need a bank account to get the eNaira; you can use a NIN verified phone number to buy eNaira. If you want to withdraw more than N50,000 but up to the daily limit of N1 million, then you will need a BVN in addition to a NIN verified phone number. The CBN has very strict ‘Know Your Customers” protocols for this process, the aim being to assure all retailers of the safety and utility of the eNaira.

Why should I use the e-Naira (e-Naira)?

The eNaira has a low-cost advantage when compared to FIAT. The daily transfers between accounts are at no cost to the holder of the account. Lower transaction cost is a massive incentive as traders will pay no fees for withdrawals and deposits to and from their bank account. No transaction fees reduce the cost of commerce while improving safety.

How will dollar remittance to e-Naira work (e-Naira)?

The e-Naira will be integrated into the CBN’s forex process, and this is to make it easier to receive remittances to Nigeria. These transfers could be from the CBN crediting e-Naira directly to the International Money Transfer Organisation (IMTO). A Nigerian abroad sending $100 to his uncle can debit his US bank account and credit $100 to an IMTO, who will buy eNaira from their corresponding Nigerian bank. The $100 is converted to e-Naira instantly at a far lower transfer fee which is a real benefit and a significant advantage the e-Naira will enjoy.

What about inflation on e-Nigeria (e-Naira)?

The street definition of inflation is too much cash chasing too few goods; however, not all inflation is this simple. Coins in Nigeria are scarce; thus, most merchants round up their prices to match with available currency, usually notes. This rounding up induces an artificial rise in prices because any cost-push does not cause the price hike but other factors, for example, selling eggs for N100 instead of N88. With the e-Naira, it becomes possible to transfer the exact cash price in the marketplace, especially in rural areas. This reduces the possibility of “round-up inflation.”

The e-Naira (e-Naira) can be the ECOWAS currency

The e-Naira can be used by any two parties who can credit a Nigerian banking institution with corresponding currency. This means a trader banking with UBA in Burkina Faso can settle his import bills from the Gambia using e-Naira. This will be the next level of the rollout. The financial institutions and FINTECH start to build out an ecosystem with eNaira as the base product.

The e-Naira (e-Naira) helps the financially excluded

The e-Naira will also bring in the vast majority of the unbanked Nigerians who have no bank account but have a phone into the formal financial economy. With the e-Naira, salary payments and payments for goods and services can be concluded. A plumber can accept payments on his phone, store them in his wallet, and make transactions with any vendor.

What are the risks about e-Naira (eNaira)?

Data security. The e-Naira is online, the BVN and NIN information is also online, the risk of malicious actors attempting to hack or gain access to the data is very low. The process of minting and burning eNaira tokens by the CBN has to be top-notch.

Overall, it’s a plus to the Nigerian economy, and it’s a positive progression towards a cashless society, with lower costs, and higher productivity.

How to Register for eNaira wallet (e-Naira wallet)

E-Naira registration will be free and will go live from the launch date. As I said earlier, financial institutions in Nigeria will still be relevant for the usage of E-Naira. Hence, you will have to visit your bank and ask the customer care officer to add the E-naira feature on your banking profile. You may be given a form to fill to get your E-naira account created and activated.

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