The Central Bank Of Nigeria (CBN) announced a new policy where bank customers are to pay more for Point of Sale (PoS) transactions. Banks have been instructed to charge N50 Stamp Duty on individual transactions. Nigerians, however, reacted negatively to this new development and took to social media to share views on the topic. Don Jazzy who is quite vocal whenever to comes to issues facing the country took to his Twitter page to vent out his frustration over the policy.
According to him, the government’s plan to eradicate poverty in the country can never be achieved when the masses are being overtaxed. He wrote, How does the govt plan to bring many Nigerians out of poverty when the struggling masses, neck-deep in poverty, are being overtaxed. The income & living standards of citizens of other countries that pay much taxes can’t be compared to that of Nigerians.