Index to Nigerian Newspapers

Many bank customers in Nigeria are expressing discontent over the newly implemented 7.5% Value Added Tax (VAT) on certain electronic banking services, arguing that it adds to their financial burdens. Customers have urged the Central Bank of Nigeria (CBN) to prevent banks from exploiting them under this tax regime. They highlighted various charges that will be affected, including fees for mobile banking, USSD transactions, and card services. Concerns were raised about the government's focus on tax collection without improving citizens' welfare, as salaries remain stagnant while banking charges increase. Customers called for better regulation of banks and a reconsideration of the VAT remittance timeline, citing discouraging cumulative charges that may dissuade them from using banking services.