The CBN's #50 Stamp Duty Charge

THE CBN’S #50 STAMP DUTY CHARGE

    The last time I painstakingly checked, the Nigeria’s regulatory bank, the Central Bank of Nigeria (CBN) had introduced a fifty naira (#50) stamp duty charge on deposits and transfers of one thousand naira (#1000) and above. This implies that henceforth the sum of #50 would be deducted from any functional bank account in Nigeria, regardless of its (the account’s) type, whenever such account enjoys a deposit of or receives a minimum of #1000 either via the counter or online/ATM transfer.

    It’s not anymore news that in various quarters across the federation, a lot of criticisms, mixed feelings as well as counter reactions had greeted the aforementioned abrupt and harsh measure which is targeted to serve as a form of tax. Such mode of tax suddenly imposed on the citizenry, which is currently yearning for a compelling review by the apt authorities, is to say the least a thing of worry to anyone who truly thinks well of Nigeria and Nigerians at large.

    We reportedly learnt that the funds to be raised from the bizarre charge or exercise would be sent to the federal government to help boost revenue for the country. No doubt, we are not unaware that Nigeria is presently faced with severe economic meltdown accompanied with several political crises, hence seriously in need of assistance from not just her teeming citizens but any individual or corporate organization that wishes her well, but we ought to acknowledge that there are so many ways to kill a monkey without hurting the poor and innocent crops.

    Even if Nigeria’s hope as regards her revenue generation is currently mainly dependent on taxation, she can boast of a robust economy without taxing the poor masses inconsequentially provided an adequate and reliable tax payment policy is maintained in the system. Unequivocally, tax evasion or avoidance remains the greatest plight plaguing tax administration in Nigeria in its totality thereby posing an unprecedented threat to the country’s economic status.

    To start with; tax is a civic contribution imposed by the government of any country on its subjects, both individuals and corporate organizations, with a view to raising adequate funds required to finance its statutory responsibilities of ensuring optimum public welfare in all ramifications to include socially, economically and politically.

     Nevertheless, for decades now, effective administration of tax system in several countries across the globe has been bedevilled by various challenges including tax evasion. The aforementioned societal canker among many others is presently argued to be the most challenging practice in developing countries like Nigeria.

    The ugly phenomenon of tax evasion, which is described as a deliberate illicit attitude involving a direct violation of tax laws cum Acts to avoid payment of taxes, is conspicuously harboured in every society or locality across the federation that it requires a non-human face toward its complete eradication. If such leakage alone is holistically addressed, there won’t be any need for the recently introduced #50 stamp duty charge by the CBN.

    In spite of the enormous control measures put in place by the apt authorities, some individuals or corporate bodies manoeuvre their ways and break government’s policies in such a manner that one may wonder if the citizens are greater or more powerful than the government. Funnily enough, such set of persons is usually the prime beneficiaries of governance in a country like ours where good governance is rarely enjoyed by a common man.

    The lingering tradition of manoeuvring tax laws is considered illegal, thus requires to be duly tackled headlong by such concerned authorities as the Federal Inland Revenue Service (FIRS) and the various Finance ministries, among others, in collaboration with the Economic and Financial Crimes Commission (EFCC) and other related agencies. Unarguably, the quest for a renewed political will toward checking tax evasion in Nigeria has become paramount and inevitable owing to the pace of the ongoing economic meltdown in the country.

    To say the least, a good and viable tax system attracts numerous national and individual benefits among which are enhancement of government’s revenue, adequate regulation of macroeconomic variables, redistribution of income inequality among the citizenry, just to mention but a few. Obviously, a reliable tax system has been proven to be a tool for the proper regulation as well as stabilization of erected human attitudes or reactions in an economy.

    Since taxation has been noted to be a significant instrument in government’s fiscal policies in any developed society, there’s a compelling need for the Nigeria’s governments at all levels to treat it as such. Even the likes of Lagos State whose major revenue is being derived from taxation could testify to the fact that regular payment of taxes plays a very vital and unavoidable role towards the sustenance of a robust economy in any existing society in the world.

    Without mincing words, the Nigerian tax system indicates that the authorities responsible for managing as well as overseeing taxation have not been transparent or appropriately accountable to the government or the electorate in general. This anomaly has been a global occurrence as evidence indicates that tax personnel who are expected to promote transparency in tax payment as well as detect fraudulent acts regarding the exercise end up using their expertise to facilitate tax evasion.

    It’s more worrisome and disheartening to acknowledge that those who invariably dodge payment of taxes in Nigeria are mostly millionaires. A painstaking survey shows that these persons are not even found in taxpayers’ census; needless to insinuate that this set of unscrupulous and unpatriotic individuals or investors, either indigenous or foreign, often connives with the so-called tax personnel or professionals towards actualizing their selfish and dastardly desires.

    On the other hand, touting as witnessed in several quarters including motor parks, airports, seaports, the FRSC, market arenas, various borders, and what have you, has seriously hampered adequate regular tax payment in the affected sectors at the expense of our dearest economy. Touting that has in recent times been observed as an activity that is ostensibly acceptable by the Nigerian state has succeeded in ravaging every facet of the country’s tax administration.

    Hence, the Mohammadu Buhari led administration that’s deeply concerned about the dangers inherent in corrupt practices ought to look inwards towards blocking all forms of lingering leakages occurring in all levels of the country’s tax administration with a view to salvaging the poor masses from any unfair treatment in the name of ‘taxation’ among others such as the newly introduced #50 stamp duty charge, the abrupt 45% increment of electricity tariff, and many other trivial charges currently taking place in the banking sector which are really telling on the said group of people.

    First, we need to from time to time have a thorough census of all citizens of the country including the working class and the idle ones. Similarly, there’s need for the Federal Ministry of Finance to have a data that would boast of a comprehensive list of all the legitimate consortia operating in the country; in the same spirit, any organization operating in the country but yet to be duly registered with such relevant agencies as the Corporate Affairs Commission (CAC) and the Council for the Regulation of Engineering in Nigeria (COREN), et al, as the case may be, should be outrightly shut down indefinitely till the owner abides by the rules. This measure alone would go a long way towards maintaining a functional and reliable tax payment system in the country.

    Inter alia, forensic tax payment system ought to be introduced and regularly utilized by the concerned authorities. We need to advance in technology as regards the country’s tax administration. And most importantly, we must as a matter of urgency review most of our fiscal policies related to taxation with a view to making amends where necessary.

    Besides, apart from the leakages witnessed in the tax arena as mentioned above, there are numerous leakages presently taking place in such various other sectors as, but not limited to, the civil service and the petroleum industry, that if holistically addressed, would tremendously help to finance the country’s proposed capital projects as captured in the 2016 budget. Indeed, there are several ways to kill a monkey without hurting the poor and innocent crops in the farm.

    However, as much as we are not unaware that making out time to pay our taxes is a worthwhile and commendable civic responsibility, the government on its part ought to equally endeavour to utilize the tax payers’ money judiciously come rain come shine. Think about it!

Comr Fred Doc Nwaozor

(TheMediaAmbassador)

-Researcher, Blogger, Public Affairs analyst & Civil Rights activist-

Chief Executive Director, Centre for Counselling, Research

& Career Development - Owerri

_____________________________________

frednwaozor@gmail.com

+2348028608056

Twitter: @mediambassador 

  

101 Reasons Siasia Deserves Super Eagles

WHY SIASIA DESERVES THE JOB

    The last time I thoroughly checked, in view of the overall impact of sports, particularly football otherwise known as soccer, on both individual and national development, the leadership of any nation needed not to be reminded that it’s meant to be treated as a priority in its scheme of work. But in Nigeria, alongside other developing countries, it’s conspicuous that in the recent times, rather than being celebrated or adored, the aforementioned game coupled with many others has been relegated to the background as if that’s where it belongs thereby constituting series of colossal societal pandemonium among the teeming Nigerian citizens on a daily basis.

    It’s so pathetic and humiliating to realize that a country that once occupied the fifth position in the global football ranking as being compiled by the world soccer governing body – FIFA, is currently headed toward the hundredth position of the said ranking. It really sounds absurd thereby making it very hard to believe by anyone who truly thinks good of this country. This unequivocally implies that there’s something fishy and opaque taking place somewhere, probably behind the scene, thus requires to be addressed by the apt authority.

    It’s no longer news that the country’s football national team reckoned to be Super Eagles wouldn’t make it to Gabon come 2017 for the event that’s expected to showcase the greatest Africa’s soccer tournament popularly addressed as African Cup of Nations (AFCON) or ‘Nations Cup’. It’s pertinent and perhaps extremely painful to note that this very unexpected knock-out that’s only imaginable would mark the second consecutive time (back-to-back) the acclaimed giant of Africa would be absent at the aforesaid championship. And if adequate care is not taken, Nigeria is likely to be missing in the forthcoming 2018 FIFA World Cup to be hosted in Russia.

    Few weeks ago, Samson Siasia the former Nigerian International striker who’s presently a practising coach, was contracted to qualify the Super Eagles for the next year’s Nations Cup following the abrupt resignation of the team’s main Coach, Sunday Oliseh barely three weeks to the match against the Pharaohs of Egypt; just like how he (Siasia) was tasked during the first time he was employed to handle the team, precisely in November 2010. As luck wasn’t on his side, unfortunately his 2011’s fate repeated itself in 2016.

    It’s gratifying to acknowledge that Coach Siasia is currently the main coach of the Nigeria’s U-23 team otherwise known as the Flying Eagles, and within a short while the team in question had obviously toured places to the glory of God. Now Nigeria can boast of a formidable, reliable and classy U-23 team. We need to urgently note that this very accomplishment wasn’t done magically or through a magical means, rather it was recorded tactically.

    Similarly, Siasia isn’t just a coach; he’s as well a manager. It takes only a manager to form a team, whilst it takes a coach to build the team having formed it. Forming a team simply means making each of its members possess only one voice; making the members act or operate like a family. And, you would wholeheartedly agree with me that formation of a football team remains the most paramount step because that’s the rudiments towards building a team.

    One of the basic qualities of a good manager is discipline. Believe me, Siasia is a core disciplinarian. For example, he never jokes with time management when it call for camping toward preparation of any match, be it friendly or crucial. He knows how to show a player the way out if the player violates the rule no matter whose ox is gored; in order words, he strictly sticks to the rules. We are all not unaware of what transpired when the Super Eagles were camping in Kaduna ahead of the AFCON qualifier match against Egypt; some of the players couldn’t make it to the match owing to indiscipline. For the umpteenth time, Siasia is highly disciplined and austere.

     Furthermore, Siasia understands how to make amends. The moment he was contracted as an interim coach for the Eagles, he went straight to the immediate past goalie and former skipper of the team in the person of Vincent Enyema with a view to reconciling him with the team, though his motive proved abortive. It would be recalled that Enyema left the team as a result of the misunderstanding that emanated between him and the erstwhile coach, Oliseh.

     In the same vein, Siasia having understood that the Nigerian midfielder, Mikel Obi was aggrieved, he thought it wise to transfer the post of the Captaincy from Ahmed Musa to him (Mikel), which was a commendable step and a well deserved recognition, in order to close the lingered ranks. He knew as a good manager that, he wouldn’t boast of a reliable team if he failed to settle such scores. And in a spirit of sportsmanship, Musa amicably relinquished the post to Mikel due to the tactics utilized by Siasia.

     For crying out very loud, why would Siasia be blamed for not qualifying Eagles for the AFCON 2017? Even, to my utmost surprise the team he tactically managed to build within a very short period performed impressively. The only side that was porous in that team was the defence, and suchlike loophole would have been corrected if enough time was given to the coach prior to the matches between the Pharaohs of Egypt. Anyone who keenly watched those matches must testify that the Eagles played practically far better than the Pharaohs.

     I’ve come to realize that, not just the Nigerian Football Federation (NFF) but Nigeria in general, is accustomed to the Fire Brigade approach. This is why within a very short period, the NFF engaged three different Nigerian coaches to man the Super Eagles. Any slight mistake from a coach, he would be fired instantly as if mistakes are crimes. But come to think of it, if really we’re to apportion blames, who truly is to blame for all these crises that have been rocking not only the country’s football but sports generally?

    It’s of course no longer news that non-payment of coaches’ salaries and allowances or payment in arrears has become peculiar to the ‘almighty’ NFF. Even though that an element of politics is found in every facet of human endeavour, we must note that institutional politics has no meeting point with sports; both aren’t unlike two parallel lines. You can’t be treating your employees like mere slaves and expect them to keep quiet or remain calm as if they are imbeciles. Besides, if we couldn’t pay the local coaches, how do we intend to pay the foreign coaches we’re clamouring for?  It’s even laughable and preposterous to note that such plan is occurring when Nigeria is concerned with how to promote her locally made products or indigenous services. How do you reconcile this?

    Another remarkable idiosyncrasy of Coach Siasia is humility. If you were in his shoes, you wouldn’t accept the responsibility to coach the U-23 team after being sacked as the Super Eagles’ coach. Everyone prays and makes frantic effort to progress or climb to the top and not the other way round. Needless to say that, Siasia possesses a commendable temperament and mentality. It takes only maturity to act in such direction. In a nutshell, Siasia is good; he’s a coach and a manager too.

    It’s worrisome to note that we no longer exercise patience again because the people in question are local or indigenous coaches. As if we have forgotten; it would be recalled that it took the erstwhile Super Eagles’ foreign coach, Clemens Westerhof good five years or thereabouts to form as well as build the dynamic and outstanding 1994 Super Eagles team that is still the talk of the day across the globe. No doubt, Nigeria and Nigerians need to have a rethink.

    Without mincing words, the NFF led by Amaju Pinnick with the supervision of the Sports Minister, Solomon Dalung needs to go back to the drawing board if it must succeed. Then, having returned from the drawing board, it would be left with no other option than to give the job to Coach Siasia. Think about it!

Comr Fred Doc Nwaozor

(TheMediaAmbassador)

-Researcher, Blogger, Public Affairs analyst & Civil Rights activist-

Chief Executive Director, Centre for Counselling, Research

& Career Development - Owerri

_____________________________________

frednwaozor@gmail.com

+2348028608056

Twitter: @mediambassador 

        

2016 World Malaria Day

2016 WORLD MALARIA DAY: ENVIRONMENTAL DEGRADATION ON MY MIND

    Last time I checked, Malaria remained a mosquito-borne infectious disease of humans and other animals caused by a group of single-celled parasitic micro-organisms known as protozoa belonging to the genus plasmodium. The disease is mainly transmitted by mosquito bites, and the symptoms often commence few days after the bite.

     Malaria is transmitted most commonly by an infected female Anopheles mosquito. The mosquito bite introduces the parasite called plasmodium from the mosquito’s saliva into a person’s bloodstream. The parasites then travel to the liver where they mature and reproduce.

     The signs and symptoms of malaria typically begin eight to twenty-five days following infection; however, symptoms may occur later in those who have taken anti-malarial medications in the past as prevention. Initial manifestations of the disease, which is common to all malaria species, are similar to flu-like symptoms and can resemble other conditions such as septicemia, gastroenteritis and viral diseases.

     The presentation may include headache, fever, shivering, joint pain, vomiting, haemolytic anaemia, jaundice, haemoglobin in the urine, retinal damage, and convulsions. The classic symptom of malaria is paroxysm – a cyclical occurrence of sudden coldness followed by shivering and then fever and sweating; occurring every two days in P. Vivax and P. Malariae infection.

      Severe malaria, which might lead to death, is usually caused by P. Falciparum – often referred to as ‘Falciparum Malaria’. Its symptoms arise nine to thirty days after contracting the infection. Individuals with cerebral malaria frequently exhibit neurological symptoms including abnormal posturing, nystagmus, conjugate gaze palsy i.e. failure of the eyes to turn together in the same direction, opisthotonus, seizure, or coma.

     It is worthy to note that, concurrent infection of diseases like HIV with malaria increases mortality rate. Malaria in pregnant women is the major cause of stillbirths, infant mortality, abortion and low birth weight, particularly in P. Falciparum infection.

     Symptoms of malaria can recur after varying symptom-free periods.  Depending upon the cause, recurrence can be classified as either recrudescence or relapse. Recrudescence is when symptoms return after a symptom-free period; it is caused by parasites living in the blood as a result of inadequate or ineffective treatment. Whilst, relapse is when symptoms reappear after the parasites have been eliminated from blood but persist as dormant hyponozoites in liver cells; relapse commonly occurs between eight to twenty-four weeks and is common among P. Vivax and P. Ovale infections.

     The primary sources of mosquitoes include sewage, refuse, dirty stagnant water, and untidy environment. In most cases, mosquitoes are peculiar to damp and dirty environments or substances such as gutter, pool, faeces, and urine, among other solid and liquid waste materials. This is why residents of untidy localities are at a high risk of contracting malaria.   

     Methods used to prevent malaria include medications, mosquito elimination through fumigation coupled with regular environmental sanitation, as well as prevention of mosquito bites via regular cum proper use of the mosquito nets, among others. Prevention of malaria, which is yet to have a vaccine, may be more cost-effective than treatment of the disease in the long run; though the initial measures required are out of reach of many of the world’s poorest people.

     Microscopy is the most commonly used method to detect the malaria parasite in the body. In spite of its widespread usage, diagnosis by microscopy suffers from two main drawbacks: many settings especially rural are not equipped to perform the test, and the accuracy of the results depends on both the skill of the lab technician and the levels of the parasite in the blood.

      It is obvious that malaria is a killer disease. The World Health Organization (WHO) estimates that in 2010 alone, there were about 219 million cases of malaria outbreak resulting 660,000 deaths. The majority of cases, about 65%, occur in children under fifteen years. Survey also indicates that about 125 million pregnant women are at risk of infection each year; in Sub-Saharan Africa such as Nigeria, Angola, Chad, Congo, Benin, Ghana and several others, maternal malaria is associated with up to 200,000 estimated infant deaths yearly. In a nutshell; globally, about 3.3 billion individuals in 106 countries are at risk of malaria, mostly among African children.

      Due to the widespread of malaria infection and its deadly consequence, the WHO thought it wise to proclaim World Malaria Day. In view of this, in May 2007 during the 60^th session of the World Health Assembly, April 25 of every year was unanimously adopted as the World Malaria Day. Needless to say; today the world over is commemorating the World Malaria Day. The day was established to provide education and thorough understanding of malaria disease across the globe, especially in countries where the disease seems to be endemic.

      As Nigeria joins the rest of the world to commemorate the annual World Malaria Day, I urge every individual in the country regardless of age or status, to be extremely conscious of the outlook of his/her surroundings or immediate environment since malaria is mainly attributed to unhealthy vicinity. Thus, we should always endeavour to properly dispose any form of waste found within our place of residence as well as thoroughly sanitize our gutters and toilets at all times. In addition, we ought to ensure that our beds are always covered with treated mosquito net whenever we lie in it.

      Among all, we should endeavour to see our physician from time-to-time or whenever we notice any abnormality in our body system, for onward review of our health status. In the same vein, the various health workers/personnel across the country are expected to contribute meaningfully and immensely in creation of awareness regarding the causes and possible effects of malaria disease as well as its epidemic. Above all, we ought to always bear in mind that prevention is invariably better than cure. Think about it!

Comr Fred Doc Nwaozor

(TheMediaAmbassador)

-Public Affairs analyst & Civil Rights activist-

Chief Executive Director, Centre for Counselling, Research

& Career Development - Owerri

_____________________________________

frednwaozor@gmail.com

+2348028608056