MY DECISION TO WITHDRAW FROM THE RIVERS STATE GUBERNATORIAL PRIMARIES- GOV. FUBARA. (PHOTO). #PRESS RELEASE.

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 GOVERNMENT OF RIVERS STATE   PRESS STATEMENT  MY DECISION TO WITHDRAW FROM THE RIVERS  STATE  GUBERNATORIAL PRIMARIES  Fellow Rivers People, After deep reflection and extensive consultations with my family, friends, and associates, I have taken the difficult but necessary decision to withdraw from the APC gubernatorial primaries. I do so with a full heart and with a firm commitment to support whoever emerges as the candidate of our great party. Leadership is ultimately about sacrifice. There comes a time when personal ambition must yield to the greater good of the people. Rivers State is bigger than any individual, and at this critical moment, the peace, stability, and unity of our dear state must take precedence over every personal interest. To my supporters who stood firmly with me throughout this journey who gave their time, resources, prayers, and unwavering hope, I offer my deepest gratitude. I understand the disappointment, the anger, and the pa...
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BANK CUSTOMERS TO PAY 7.5% VAT ON MOBILE, USSD TRANSACTIONS. (PHOTO).

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 Bank customers to pay 7.5% VAT on mobile, USSD transactions


Nigerians should brace up for tougher times as a new regime of 7.5 per cent Value Added Tax (VAT) on selected banking services, including mobile bank transfers and USSD transactions, takes effect from January 19, 2026.


According to a notice sent to customers on Wednesday afternoon by Moniepoint, the development is tied to a directive from the Nigerian Revenue Service(NRS), mandating financial institutions to begin VAT collection and remittance on certain electronic banking services


The notice reads in part, “We would like to inform you of an upcoming government-endorsed regulatory change regarding Value Added Tax (VAT),” the notice stated.


It added, “From Monday, 19 January 2026, we are required to collect a 7.5 per cent VAT, to be remitted to the Nigerian Revenue Service (NRS) (formerly known as the Federal Inland Revenue Service).”


Recall that bank customers had, on January 1, 2026, expressed growing frustration following the announcement from banks that the implementation of a new tax framework had shifted the burden of electronic transfer levies to senders, a move that many fear will further raise the cost of everyday digital transactions in Africa’s largest economy.


Under the Nigerian Tax Act, which took effect on January 1, 2026, a N50 electronic money transfer levy on transactions of N10,000 and above will now be deducted from the sender’s account rather than the recipient’s.


Banks have begun notifying customers ahead of the rollout, framing the change as a regulatory requirement rather than a new fee.

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