Since November, 1949
 
Mon. 14th July, 2008
Letters

Re: Banks indefensible charges

I have noticed that apart from the ubiquitous Commission on Turnover (COT), my bank also makes additional charges for payments to third parties via the Central Bank of Nigeria (CBN) Inter-bank Funds Transfer System (CIFTS).

The CIFTS heralds the age of electronic fund transfers in the Soludo-driven move towards a cashless society, and I am, therefore, totally baffled by the decision of CBN and the bankers committee have agreed to impose a charge of N1,000 per transaction, which, with VAT at 5 per cent, results in a cost to the customer of N1,050 per transaction, a wholly indefensible charge.

CIFT reduces the banks’ cost of operations, as such, electronic transactions eliminate the need for cash handling or the processing and clearing of cheques, and at the same time, reduces their banking hall pressures as customers can, from their homes, make such transfers to third parties via the internet or even via their mobile phones. In developed countries, such electronic payments or transfers are free — it is the use of cheques that attract charges, yet the Bankers Committee has turned this completely upside down. Why would I use the CIFT if the charges would cost a significant percentage of, or even more than, the amount I am trying to transfer? And what computation led our avaricious bankers to suggest that a CIFTS transfer costs them almost three times as much as processing a bank draft, for which they typically charge N300-N400 for issuing?

Any operational costs of CIFT should be subsumed within the existing COT charges, and I hope your investigative journalists / business desk will task the CBN and the Bankers Committee to remove these charges.

’Yinka Oyediran,
0803 629 0281


Provide equal opportunities for all Nigerians

There are moments in the life of man, in the life of every a nation, when, under the excitement of passion, the simple truth, which on most occasions, are the foundation upon which the right order and conduct of life depends, are apt to be forgotten and disregarded. Such moments are what we are witnessing in Nigeria, where our political leaders have turned their back on common men and women who supposedly ‘elected’ them.

In spite of our abundant resources, millions of Nigerians are living with more discomfort, with fear, than other people elsewhere in the world.

Many Nigerians have spent weary lives in unrewarded toil, in anxiety, in helplessness, in ignorance and abject poverty. Government at all levels have refused to do what is right, they take pride in milking us dry, lording themselves over us not minding whose horse is gored.

But there is a deeper source of love of country than the material advantages and benefits it may afford. It is in the character of its people, in their moral life and level of civilisation. The elements of human nature are indeed so fixed that favourable or unfavourable circumstances have little effect on the lives of the people.

We, however, tread on, hoping that the situation will change for better with democracy.
But the conditions, which have prevailed in Nigeria, have, if broadly considered, favoured steadily and strongly a few selected ones while the common men and women who truly toil hard for continued existence of our nation. The hour is surely coming when the oppressed will forcefully ask for what belongs to them.

The institutions established for self-government have been founded with intent to secure justice and independence for the rich alone.

Our governors have not only succeeded in squandering our resources but also have created fear in the people such that no one dares ask any question, as doing so will either lead to branding or outright elemination.

President Yar’Adua and his lame governors are breeding a generation that will tear this country apart in the not too distant future because they lack quality education, wealth and the rudiments of leadership needed to rule. The children of the rich and the political class who turn the children of common man into slaves would not know peace when the bubble eventually bursts. The time remaining is enough to right every wrong; open a new vista of equal opportunity accessible to all and sundry. Niger Delta needs no summit. What should be done — develop the region to the level of Abuja.

Tola Osunnuga,
Dept of Nigerian Languages & Literatures,
Olabisi Onabanjo University, Ago Iwoye.


Niger Delta needs this summit

The Niger Delta needs the proposed summit so long as there is a perennial failure on the part of the Federal Government and indeed, the leadership of the Niger Delta to develop the region. The essence is to continue to discuss and expose the ills of poor leadership for the benefit of the people of the area.

However, the summit could hold on the following conditions:
Chairman of the summit should be a renowned social scientist from Latin America and the deputy from Asia. Membership should include ethnic nationality leaders from the Niger Delta ( Akwa Ibom, Rivers, Bayelsa and Delta states), the FG, states and local governments’ representatives. Observers should include the ECOWAS, AU, UN, International non-governmental and not-for-profit organisations. The recommendations should not be subjected to further debate in the national or state assemblies of Nigeria.

FG should implement the recommendation is within the time frame recommended by the summit.

It is desirable for the summit to understand that the development of the region is not strictly the building or provision of infrastructure. Infrastructure should be built to facilitate the region’s development.

Development, here, refers to the consistent improvements in the economic, social and political values of the region under the mastery of its people, especially in areas where they have environmental and occupational comparative advantages. This means self-determination within the Nigerian state, does not mean seccession of the Niger Delta.
Finally, five per cent of the revenue of the region should be contributed into the federation account to maintain federal services.

Okachikwu Dibia,
Abuja.

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