By Adenike Lawal

The Federal Government of Nigeria has commenced the enforcement of a N50 Electronic Money Transfer Levy (EMTL), on electronic transactions of N10,000 and above through Financial Technology (Fintech), platforms like Opay, Moniepoint, and Kuda.

This levy, established under the Finance Act of 2019 and later amended, mandates a one-time N50 charge on the recipient of any electronic transfer meeting the threshold.

Initially slated for enforcement on September 9, 2024, the deduction officially began on December 1, 2024.

The EMTL has sparked public criticism, with groups such as the National Association of Nigerian Students (NANS), urging the government to reconsider the policy due to its potential impact on citizens’ financial burden.

Fintech platforms have also taken steps to clarify their roles in implementing the levy.

In September 2024, Opay informed users that the levy was a Federal Inland Revenue Service (FIRS), mandate, assuring customers it gains no profit from the charges.

Similarly, Moniepoint issued notices to customers about the deductions, emphasizing that the fee is collected on behalf of the FIRS.

The levy is designed to generate revenue distributed across the three tiers of government: 15% for the Federal Government, 50% for state governments, and 35% for local governments.

According to FIRS directives, receiving banks are required to collect and remit the levy promptly.

The EMTL represents a shift in Nigeria’s tax system, aiming to bolster fiscal revenues but raising concerns among citizens about its effect on digital banking and financial inclusion.

By Faith Adama

A heated dispute over a ₦5 million donation has forced the temporary closure of the Celestial Church of Christ, Acts of Apostle Parish, Ketu, Lagos, for 40 days.

Tensions flared during Sunday service when Muyiwa Oluponna, claiming to be the son of the church’s founder, disrupted proceedings, demanding that the donation from the church headquarters be handed over to his family.

The funds were reportedly earmarked for renovations and constructing a clergy house.

Oluponna, in a dramatic move, seized the microphone from Acting Shepherd Adetayo Adetola, insisting the money rightfully belonged to the founder’s family.

He further demanded to be installed as the church shepherd and given the right to deliver sermons monthly.

A viral video of the clash showed Oluponna and congregants locked in a fierce argument, escalating the controversy.

To de-escalate the situation, the church leadership ordered a 40-day shutdown to investigate the matter and restore order.

Shepherd Emmanuel Iperepolu revealed that Oluponna had a history of causing unrest, including issuing threats to members.

Speaking on behalf of the church, Head of Media and Publicity, Kayode Ajala, explained that the closure was a precautionary measure.

“We are committed to resolving this issue amicably,” Ajala said. “The parish will reopen once investigations are concluded, and peace is assured.”

The conflict has sparked wider debates about accountability and leadership within the church community.

By Faith Adama

The Nigerian House of Representatives has rejected a bill proposing a single six-year term for the President and State Governors. The bill, titled “A Bill for an Act to Alter the Provisions of the Constitution of the Federal Republic of Nigeria, 1999 (as amended),” aimed to introduce several significant constitutional amendments, including: A single six-year term for the President and Governors. Formal recognition of Nigeria’s six geopolitical zones. Mandatory rotation of key political offices, such as President, State Governors, and Local Government Chairpersons, among regions and zones.

And Synchronization of all elections to be held on the same day.

Sponsored by Rep. Ikenga Imo Ugochinyere and co-sponsored by 33 other lawmakers, the bill was presented during Thursday’s plenary session.

After Rep. Ugochinyere introduced the bill, it was seconded and put to a voice vote overseen by Speaker Abbas Tajuddeen.

When the Speaker called for votes, the majority of members resoundingly voted “Nay,” signaling strong opposition to the bill. As a result, the Speaker ruled that the bill had failed to pass its second reading and was rejected outright.

This rejection highlights the House’s resistance to major constitutional changes, despite the bill’s ambitious aim to reshape Nigeria’s political and electoral system.