Nigerian singer, Sexy Steel who is in a “long-distance” marriage, disclosed what he does anytime he feels horny, in a new chat with Saturday Beats.
He says:
“If I am moved sexually, all I need to do is travel to Dublin to meet my wife” he said.
The singer, a proud father of two boys, who doesn’t like wearing his wedding bands, also said:
“As a person, I do not believe in wedding bands. We are not perfect but as a married man, there are some things that you should not be caught doing.
As an entertainer, wearing a wedding band translates to chasing my female fans away. If they think that someday they might get married to Sexy Steel, that is fine. It is what they think and it would help me enlarge my female fan base.
We are not bankers or doctors, we are in the entertainment business and there can be temptations at times but just keep your marriage away from social media and prying eyes.
Ladies love married men and if they want to have anything to do with you, they do not care if you are wearing a wedding ring or not. In fact, the wedding ring is an invitation for them.
These ladies believe that married men are so caring and they know how to take care of women. They know how to treat women right. I don’t bring my family to the social media or even the entertainment industry.
My family do not even live in Nigeria, they are based in Dublin. I am in Nigeria focused on my work. I am a disciplined person and I can never get carried away by any woman.
It is never going to happen. I am focused on the entertainment business and it does not mean that I should lose focus or forget the fact that my family is somewhere. Nobody can put my marriage asunder.”
In a quite unusual event that will be holding by midnight on March 26, April 24 and May 23, witches, Wiccans, shamans, heremeticists, cunning folk, sorcerers and sorceresses, hoodooists, occultists, magicians, ceremonialists and ritualists will be gathering to cast a spell on America’s President, Donald Trump, as the first ritual has been held on February 24.
This is coming after President Trump’s proposed plan of tracking down witches.
Ingredients needed to cast the spell on Donald Trump and his supporters include; an unflattering photo of Trump, a tiny orange candle, a Tower tarot card, bowls of water and salt, a pin which is used to carve Trump’s name on the candle.
Once these have been gathered, they will then be arranged in a pleasing position along with a feather, a white candle and an ashtray or dish filled with sand.
The witches are also expected to chant:
‘I call upon you / To bind / Donald J. Trump / So that he may fail utterly / That he may do no harm/To any human soul.’
The second verse tackles a different issues, with the lines: ‘Bind him so that he shall not break our polity / Usurp our liberty / Or fill our minds with hate, confusion, fear, or despair.’
Here’s the chant for the spell for Donald Trump’s supporters;
‘Bind them in chains / Bind their tongues / Bind their works / Bind their wickedness,’ sing the women and men, who at this point are told to take the orange candle and light President Trump’s photo on fire.
To close things out the phrase ‘So mote it be!’ is repeated three times and the candle blown out.
It is important that while blowing out the person is ‘visualizing Trump blowing apart into dust or ash.’
Witches are also directed to ground themselves after the ritual before disposing of the candle. It is expected the spell will stop Donald Trump from doing more harm than good and also banish him.
However, some witches are growing concerned as the event draws near, and taking issue with whether or not the binding spell is appropriate, because they do not believe it comes from a place of love.
The United States President is yet to respond to this.
Gov. Ibikunle Amosun of Ogun State, who was on his back from the swearing in ceremony of Governor Rotimi Akeredolu in Akure, stopped his convoy to save accident victims.
The accident victims who sustained injuries on their head, which came as a result of the collision between a volkswagen car with registration number; Ondo BDR-223XA, painted in the taxi colour of Ondo State and a MAN Diesel truck along Akure-Ondo Road, were first taken to General Hospital in Ondo town, where they were rejected because the workers were on strike, before being taken to a private hospital were they are currently being treated.
Here’s the official press statement and photos;
“Ogun State Governor, Senator Ibikunle Amosun, on Friday, stopped to personally coordinate the rescue of three accident victims along the ever busy, Akure-Ondo Road in Ondo State.
Governor Amosun who came across the accident scene while returning from the swearing in ceremony of Governor Rotimi Akeredolu in Akure, stopped his convoy and personally led efforts to retrieve the accident victims from the bush.
The accident involved a Volkswagen car with registration number, Ondo BDR-223XA, painted in the taxi colour of Ondo State and a MAN Diesel truck, which apparently ran the taxi off the road.
The three female victims of the accident appeared to have sustained injuries on the head and this prompted the Ogun State governor to direct his security team to immediately take them to the General Hospital in Ondo town.
Although the accident victims were rejected at the public health facility because the workers were said to be on strike, Governor Amosun then directed that they should be taken to a private hospital in Ondo town where they were admitted and treated.”
Signed
Adejuwon Soyinka
Senior Special Assistant (Media)
Ogun State Governor
February 25, 2017.
Nollywood actress, Tonto Dikeh, whose marriage to Olakunle Churchill recently hit a roadblock based on claims of infidelity and domestic violence, shared on social media today that there are better men to die or live for, after some fans wrote on her page that they hoped she wasn’t suicidal.
As the Dollar continues to fall freely at the parallel market following the Forex intervention by the Federal Government, Senator Ben Murray-Bruce has advised Acting President, Prof Yemi Osinbajo to teach his boss, President Muhammadu Buhari who is currently on a medical leave in the UK, his magic.
The dollar traded between N400 to N460 at the parallel market as at Friday, February 24th, 2017.
This has us wowed mehn! Hardly will you singer the singer cum rapper, looking as humble and innocent like this, if she’s not donning a crazy look with her septum ring in her nose, she’s either half clad or… just crazy!
So this side of hers, just might the alter ego we look forward to see more of!
A Facebook post that showed pupils of a private nursery and primary school, Early Dew Montessori Academy, Enugu, aged between four and seven years, in a police van, purportedly arrested for failing to do their assignments, and also for wearing dirty uniforms, caused outrage on Social media during the week.
The incident, according to reports, took place in the school on February 16.
The picture, which was said to have been posted on Facebook by a parent of one of the pupils in the school, was reportedly captioned ‘Enugu State Government police in conjunction with Early Dew Montessori Primary School, GRA Enugu, arresting 4 to 7 year-olds and putting them behind a Hilux – the same place they put dead bodies, and where they could have jumped out from fearfully, for not doing their assignments’.
The caption gave the impression that the Enugu State Government was involved in the affair, a development which drew the ire of the Governor Ifeanyi Ugwuanyi-led administration.
The government immediately moved to correct the impression, and on Monday, February 20, suspended the operations of the school. The school is currently being threatened with permanent closure.
Commissioner for Education, Professor Uche Eze, who announced sanctions against the school, described the development as ‘an embarrassment to the state government and a serious psychological abuse of the concerned children’.
Besides the suspension, the school management was also ordered to apologise, in writing, to the state government, parents of the ‘abused’ children, and the entire people of Enugu State. These measures have to be carried out before the suspension could be lifted. Failure to do so, the school will be closed, permanently.
The commissioner said the measures would serve as a warning to other private schools in the state who adopt ‘unethical practices’ in the name of corporal punishment.
But the woman in the eye of the storm, the proprietress of the school, also known as ‘school mummy’, Mrs Ify Okonkwo, has blamed the entire episode on misunderstanding.
According to her, the ‘invitation’ of the police, the ‘arrest’ of the erring pupils, and their placement in the police van, were all part of an arranged ‘stunt’ that was meant to discourage indiscipline, and also instill hardwork and good conduct among pupils in the school.
Okonkwo said she collaborated with some parents to execute the stunt, adding that she was the one that shared pictures of the incident on a Whatsap forum she created for parents of pupils in the school.
Addressing journalists, Okonkwo, who was in company with parents of some of the pupils in the school, said the incident was stage, managed, as the pupils were merely told to get on the back of the van, where they were made to pledge to be of better behaviour.
The proprietress said,
“Being an educationist, what happened in the school on February 16 was to encourage the children to be focused. I brought the police to come and talk to the children and to motivate them to read on their own without being pushed.
“In my mind, I thought I was doing it to bring the children up in a way that they will be attached to their studies. No child was manhandled neither did they point a gun at any of the children.
“I was the person that took the pictures and we have a group chat I opened for parents as one family to brief them on the school’s activities.
“When I took this action, I posted it (pictures) on the platform, with the caption ‘Some children were arrested today for not doing their homework, for not reading their books, for not behaving well, but they promised to change’.
“I didn’t mean any harm; I meant well for the kids. If not, I wouldn’t have made it public – it would have been between me and the teachers.”
Okonkwo said the parents commended her when she posted pictures of the incident on the Whatsapp forum.
“When I uploaded it on the platform, parents were commending me,” she said, although she added that the particular parent who in turn posted the pictures on Facebook with the ‘mischievous’ caption, has issues with the school management.
Insisting that the pupils were not actually arrested, the proprietress said,
“I am aware that those children are still minors and no offence they committed would warrant an arrest. So how do you think that those children were arrested? Who will have that kind of heart to arrest these little children?”
One of the parents, Mrs Jessica Nnamani, corroborated the proprietress’ claims.
Nnamani said she was at the school on the day of the incident, and played a role in the ‘drama’.
She said,
“I am one of the parents in the school. On that day, I came to the school to give my son who is not well his hourly drug. When I got to the school I saw some kids that morning who were looking very dirty. When I saw that, I wasn’t happy, as a mother who would want her kids to look clean and I turned to the school mummy and asked, ‘Where are those children coming from? Did their parents bring them here this morning looking this way?’
“I was disappointed.
“She told me that she had a plan on how to deal with people that come to the school looking dirty, the stubborn ones and those that are not doing their homework.
“She then told me the drama she wanted to do, that I should help to stage manage it very well.
“She invited police and when they came, all the children that were dirty, those that were stubborn and those that weren’t doing their home assignments were brought out at around 9:00 am and they were told that the police were going to take them to Abuja, unless they promised to be coming to school clean, to be obedient, and also ready to do their home assignment.
“I played the intercessory role by begging the ‘school mummy’ to tamper justice with mercy, promising that they would change. I said, “School mummy’ please don’t take them away, they will change”. I then asked them, ‘Okay, are you people promising school mummy that you will do well from now on?’ They all said yes.”
Continuing, she said, “They (pupils) were rather laughing. They (police) now took them behind the van – it was then they started begging.
“If I should say, she (proprietress) didn’t mean any harm. As a parent, I supported what she did. She did it in the interest of the pupils.”
The woman said she uses a similar approach to discipline her kids.
Nnamani added,
“When my child proves stubborn and I drive them to a police checkpoint, I will bring that one out and ask police to take him and punish him because he is stubborn, and you will see him dragging my clothes begging that he will not do such a thing again, that he will change, and police will tell him “Make sure that your mum doesn’t bring you here again”.
Be that as it may, the school remains closed, until further notice.
Meanwhile, the school management has apologised to Enugu State government. The apology was conveyed in a letter addressed to the commissioner fovr education.
“We promise and undertake that such will never happen again, and appeal mostv humbly that the closure of the school be lifted so that our children are not affected negatively by the continued closure of the school,’’ parts of the letter said.
So a Honda Civic 1991 model, a 26-year-old car was given as a competition prize to a beauty pageant in Kogi recently – the pageant “is a celebration of Igala womanhood, their inner beauty & a showcasing of the culture & heritage of igala land.”
Facebook user Opaluwa Ugbede-Ojo Omera, who shared photos said:
Miss Igala Nigeria won Honda Civic 1991 model in 2017?
The car is older than the winner and Guinness Book of Records wont even acknowledge this.
Since President Buhari is not around anybody can do anything the way they like sha.
Nigerian Gospel singer, Eric Arubayi, who died on Saturday February 11th, is set to be buried today, February 25th, 2017 – the deceased is survived by his wife Chinonso, son, parents and siblings.
The classic singer has opened up about her broken marriage with Prince Eke, saying she gave her all to make the union work. Speaking in a new interview with HipTV, she says:
“I got married and became a full time house wife for 6 years. For me to have taken a break (from entertainment) for six years, that’s enough to tell anyone I was really dedicated. I gave the marriage all my life, all my time, but if the persons involved are restless a bit, you can’t be in control”
Estranged husband of the media personality and book author, Maje Ayida has instituted a legal action against Toke Makinwa, over her tell-all memoir which he claims contained defamatory words.
Through his lawyers, Kemi Pinheiro (SAN) of Pinheiro LP, Ayida has initiated legal proceedings at the Lagos judicial division of the high court, Lagos state.
Kachifo Limited, publishers of the memoir, On Becoming, were also sued alongside the television personality. Ayida is demanding N100m in damages in the suit which was filed February 7.
He has requested the court to donate damages awarded him to four charities which will be nominated by him. The lawsuit is a follow-up on the letters of demand earlier served Makinwa in December 2016 by Pinheiro LP.
Ayida has demanded that she retracts the defamatory words contained in the memoir and to tender an unreserved apology in several national dailies. Toke has been served with the court papers.
On Monday, February 20, the Enugu State Government suspended the operations of Early Dew Montessori Academy when viral photos showed that the proprietress of the school got some pupils arrested for failing to do their assignments.
The school is currently being threatened with permanent closure. Commissioner for Education, Professor Uche Eze, described the development as ‘an embarrassment to the state government and a serious psychological abuse of the concerned children’.
Besides the suspension, the school management was also ordered to apologise, in writing, to the state government, parents of the ‘abused’ children, and the entire people of Enugu State. These measures have to be carried out before the suspension could be lifted. Failure to do so, the school will be closed, permanently. .
The commissioner said the measures would serve as a warning to other private schools in the state who adopt ‘unethical practices’ in the name of corporal punishment. .
However, the proprietress, Mrs Ify Okonkwo, has revealed that it was a stunt meant to discourage indiscipline, and also instill hardwork and good conduct among pupils in the school. .
Okonkwo said she collaborated with some parents to execute the stunt, adding that she was the one that shared pictures on a Whatsap forum she created for parents of pupils in the school.
The proprietress said:
“In my mind, I thought I was doing it to bring the children up in a way that they will be attached to their studies. No child was manhandled neither did they point a gun at any of the children.
I was the person that took the pictures and posted them on Whatsapp, with the caption ‘Some children were arrested today for not doing their homework, for not reading their books, for not behaving well, but they promised to change’.
I didn’t mean any harm; I meant well for the kids. If not, I wouldn’t have made it public – it would have been between me and the teachers.” Okonkwo said the parents commended her when she posted pictures on the forum.
The Bauchi State Ministry of Health has confirmed the death of four patients out of the five cases of Lassa fever in Bauchi, Alkaleri and Ganjuwa Local Government Areas of the state.
The Commissioner for Health, Dr Halima Muqaddas, made the confirmation on Friday while addressing journalists in Bauchi.
“We have confirmed five cases of Lassa fever from Jan. 24 to date. Three cases from Bauchi Local Government and the three are dead.
“In Alkaleri, we had one case and the patient died while in Ganjuwa, it was only one case and the person is alive and is being treated.
“The cases were found in different local governments that we have never had a single case in previous years.
“This disease is due to the non-adherence to maintaining personal and environmental hygiene,” she said.
Muqaddas said that all suspected cases would be quarantined at the Abubakar Tafawa Balewa Teaching Hospital, Bauchi. The commissioner directed all health facilities in the state to treat all cases with utmost caution to fast-track diagnosis of the disease.
The heir of Brazil Football legend, Pele, has been told that he must serve almost 13 years behind bars – Edinho says that he will turn himself in to the police after being ordered to fulfill some of his 33-year drug trafficking sentence.
The former Santos goalkeeper, whose full name is Edson Cholbi do Nascimento, was found guilty of drug trafficking and money laundering in 2005 but has been fighting the charges since.
An 18-year-old boy has been accused of brutally raping and killing his 20-year-old roommate before abusing her corpse.
Austin Lance Grammer was arrested in Siloam Springs, Arkansas on Wednesday after police found Leslie Perry’s dead body inside the home where they lived last week.
The teenager now faces multiple charges, including manslaughter, rape, abuse of a corpse and tampering with evidence.
He is currently being held at Benton County Jail where his bond has been set at $150,000. Authorities were called to the home following reports of a death on late on February 17.
Police arrested Grammer five days later following an investigation into the victim’s death. The pair are believed to have worked together at a local cafe.
Grammer, who was born and raised in Arkansas, moved to the Siloam Springs area three years ago. His father, stepmother, sister and brother-in-law live nearby, the Democrat Gazette reports.
His alleged victim had attended school in Siloam Springs after moving with her family from Tifton, Georgia where she was born.
Friends described her as a ‘beautiful, sweet‘ girl who was always willing to lend a hand.
‘Leslie Perry you where a beautiful young sweet girl who never deserved this. We all love you and justice will be pursued,’ a friend wrote on Facebook.
As her followers keep meddling into her failed marital affairs, so does she keep on revealing more shocking details about it – this time though, one of her fans only requested to know the secret behind her weight loss, saying she looks pretty and all.
The actress then shockingly replied saying:
“How? It was very simple having a husband who cheats on a roll and uses you for a punching bag and suffering gross verbal abuse sun up to sun down in my hone. I am sure any woman would lose weight. I look pretty because I am serving a living God who never sleeps.”
The actress had also liked a post on Instagram that called out her husband and referred to him as a scam.
Following the several attacks on Nigerians by South Africans, Nigerians in South Africa have according to new claims, taken up arms to defend themselves against xenophobic attacks currently going on in the country.
The ongoing alleged xenophobic attacks on Nigerians by South African reportedly took a new turn on Friday, February 24.
Reports from South Africa claimed that Nigerians have taken up arms in self defense against protesters who are reportedly marching against the continuous stay of Nigerians in the country.
The protesters believe that foreigners are taking over their jobs and business opportunities.
South Africa based pastor and former Nigerian Footballer pastor Idah Peterside reports that there was a stand-off in Pretoria, South Africa as Nigerians have refused to run away from the South Africans who are matching against them.
He tweeted saying:
“It’s a stand off in Pritoria,the Nigerians have refused to hide. The South Africans matching are been confronted with Nigerians carrying guns.”
The comic actor had during the week paid a visit to the Big Brother house, where he even had a diary session with the host of the house, Big Brother himself – the housemates were overjoyed after they met with the Nollywood icon. (See Here)
We all know how the actor is one who is mad in love with his spouse who he got married to on the 25th of May 2015, after dating for so many years.
These new loved up photos of the both of them are definitely making us want to love… some more… Lol… Continue with their photos below:
So we are all aware how earlier today, the actress revealed that the expensive gifts she has been flaunting on social media claiming her “ex-husband’ bought them for her were all lies, saying she used her platform to make him who he is today.
Since 2015, she has been showing off luxury gifts on Instagram ranging from a Lexus LX 570 SUV, a canary yellow ring, a Toyota Prado SUV, a diamond studded chopard necklace and wristwatch and an iPhone 7 rose gold.
Following her statement, this has us wondering if all these have been a gift from herself to herself? ???
There’s a new found job in the country though – whistle blower!! Twitter account of APC UK, shared a video of 10 G-Wagons including a gold plated one that are allegedly owned by a Nigerian, parked in a compound.
According to them, they are not yet sure of the location as it was sent to them via their inbox, and they have already alerted EFCC and the Police to investigate.
The Delta State Police command have apprehended a 43-year-old Ngozi Ojei and Ewere Samuel (20) for selling a two-week-old baby girl to a widow for N600,000.
Samuel is the mother of the baby. Samuel gave birth to the baby girl while she was Ojei’s housemaid in Aba, Abia State.
But because Samuel could not identify the person who impregnated her, she and Ojei agreed to sell the baby to avoid keeping a bastard child. They sold the baby late January to a woman simply identified as a widow.
Parading them alongside suspected armed robbers, kidnappers and traffickers at the command headquarters in Asaba yesterday, the Commissioner of Police, Zanna Ibrahim, said in November 2016, Ojei asked Loveth Ojie to help her get a housemaid before she brought Samuel.
“In January 2017, the said Ngozi Ojie came to Ekwuoma (in Ika North East Local Government Area of Delta State) to see the mother of Ewere Samuel after which she took her to Aba.
“The said Ewere Samuel delivered a baby girl and the suspect sold the child. The suspect confessed selling the baby for N600,000,” the commissioner explained.
But Ojei said she and the mother of the baby girl got N250,000 each from the proceeds. While Ibrahim said investigation was ongoing, Ojei’s husband, Mr. Edwin Ojei (50), of No. 22, MCC Osisioma Ngwa, Abia State, who was paraded alongside his wife, said:
“I only came home for burial when I was arrested.”
Following his bail hearing which was adjourned to today, Friday 24, due to the failure of the police to file a counter affidavit, Seun has been granted 5 Million bail from Federal High Court, Ikoyi.
Justice Oluremi Oguntoyinbo who presided over the case ruled Mr. Seun should be granted bail once he meets bail requirements.
“Both accused should be granted bail of N5million with two sureties each in a sum of N2.5million. That is four sureties altogether. One of the sureties must be a civil servant who has attained level 16 while the other surety must be a land owner in any part of Lagos metropolis.”.
“The landowner must submit Certificate of Ownership of the landed property and while the civil servant must submit his international passport to the court. The four sureties must swear to an affidavit while the house and office addresses and telephone number will be verified by the court,” she added.
The Policeman was spotted hanging onto a moving Danfo bus on the Lagos expressway earlier today – these are the Yellow buses the Lagos State government plan on eradicating before the end of the year.
After seeing this photo, you won’t blame the government for their actions would you? ?? smh
The Nigerian author, took to his Facebook page hours ago to shade the ill president. He wrote alongside a photo of the acting President, Yemi Osinbajo,
At long last, after two years we have a President (acting or not) whose reading priority is not cartoons!
In a rare twist of events, a furious Nigerian guy, Don David Temitope, took to his Facebook to call out his ex-girlfriend in an open letter, calling her a terrible ex.
Don narrates how he had met his ex on his birthday three years ago and how she wasn’t the best of girlfriends, he says she aborted the baby she was carrying for him, after he’d thought he was gonna be a father.
Sharing her photo, he wrote:
“Dear Fina, We Met On My Birthday Night Barely 3yrs Ago & Ever Since Your Beauty Deceived Me Into Thinking I Could Stop Playing Around With Other Girls When You Are Terribly Doing Worse With Other Men Not Even Boiz…… See Ehn I Wont Forgive You For Making Me Believe I Was A Father Already For Close To 2weeks When It’s Clearly A Planned Shit….. Thank God For The Dream I Had Before Confronting You
See Ehn I Still Remember How You Use To Wash My Clothes Then In School Buh Why Did You Suffer Me With Food??? Huh?? Datz How You Will Just Sit Down & Keep Watching Nollywood Movies While Myself & Victor Daniel Will Enter The Kitchen Ourselves To Cook & You Won’t Even Move An Inch… E Pain Me Then ooo Buh I Was Still A Gentle & Short Temper Dude Then ?
***** and **** (Names removed) Can Testify About Your Beauty & How I Nail That Hole Well @ Midnight Just To Satisfy Your Crazy Urge Yet You Successfully Turned Me Into The Hot Tempered Don David Of This Day….Girls Sha!!! You Made Me Think All Day & Also Spend Money On You Thinking You Were Carrying My Child ? Till You Successfully Aborted It Right Before My Eyes After Confessing… Karma Would Front For Me Chai ?
Now I Realize The Most Beautiful & Prettiest Girls Are The Deadliest….. So Hence I Wanna Start Fishing For Just The Fine Or Ugly Girls…. YOU WILL FOREVER REMAIN MY TERRIBLE Ex
Angry Don”
One thousand, four hundred local governments workers in Imo State were sacked last week, according to the state’s chapter of the Nigeria Union of Local Government Employees.
The chairman, Mr Ndubuisi Uchehara, while confirming the sack on Thursday in Owerri, declared, however, that the union would not confront the state government over it.
He said,
“As a responsible union, we only act when the rights of legitimate worker are infringed upon.
“When you are an absentee worker, labour cannot protect you when you are visited with the right punishment.
“When you reside in Abuja and draw monthly salaries from a local government in Imo, such persons are not worth NULGE’s time and efforts.
“But there are also cases of people, who were wrongfully treated; the union is already handling such cases with Gov. Rochas Okorocha.”
He expressed optimism that people with proven cases of injustice would have their situations addressed.
“Such persons should not panic; we shall put in everything to resolve their matters,” he said.
The sack hit workers from across the 27 Local Government Areas of the state.
Bree, who said she wasn’t using the phone at the time of its explosion says she can’t explain why it exploded. She shared photos of the device as it burns down the rubber pouch of the phone.
Photos continue below + video:
So my IPhone 7 plus blew up this morning ? was not even using it, literally no explanation for this pic.twitter.com/sQ8CJt4Y69
The Central Bank of Nigeria, Thursday, announced that they have reintroduced bank charges on certain categories of cash deposits and withdrawals.
This came about three years after the apex bank stopped the charges.
In a circular to all Deposit Money Banks posted on its website, the regulator said the decision to reintroduce the charges on cash deposits was part of the review of charges on deposits and withdrawals under the cashless policy.
It said the decision was taken at the Bankers’ Committee meeting, which held in Abuja two weeks ago.
The circular, signed by the Director, Banking and Payments System Department, CBN, Mr. Dipo Fatokun, stated that the committee decided that the cashless policy should be extended to the remaining 30 states of the federation.
It also directed that with effect from April 1, 2017:
Banks in the states where the cashless policy was already operating, Lagos, Ogun, Anambra, Abia, Kano, Rivers and the Federal Capital Territory, would begin to impose charges on deposits and withdrawals above N500,000.
Banks will from that date begin to charge individuals 1.5% and 2% for deposits and withdrawals between N500,000 and N1m.
Individuals depositing or withdrawing between N1m and N5m will be charged 2% and 3%, respectively.
For amounts above N5m, banks will charge such individuals 3% and 7.5% for deposits and withdrawals, respectively.
This means any cash withdrawal or deposit by an individual under N500,000 would not attract any charge.
With regard to corporate customers, the CBN stated:
that deposits and withdrawals under N3m would not attract any charge,
but that customers depositing or withdrawing between N3m and N10m would be charged two per cent and five per cent, respectively.
Also for deposits and withdrawals between N10m and N40m, customers will be charged three per cent and 7.5 per cent, respectively.
Deposits or withdrawals above N40m by corporate customers will attract a charge of five per cent and 10 per cent, respectively.
According to the CBN, the new policy on charges will be implemented in selected states on May 1 and August 1, this year; while the total implementation will be concluded on October 1.
The regulator noted that the committee agreed that income generated from the processing fees above the allowable cash limits would be shared between it and the banks in the ratio of 40:60.
However, the CBN said that existing exemptions to the policy such as revenue generating agencies of the federal, state and local governments (for lodgements) will be sustained. Also exempt from the processing fees are embassies, diplomatic missions, multilateral and aid agencies.
The CBN directed lenders to train their employees to enlighten customers on the new policy.
