CBN Re-introduces ATM N65 Cash Withdrawal Charges

Banks customers will from September 1, 2014 pay a token for cash withdrawals made on other banks’ Automated Teller Machines, the Central Bank of Nigeria said in a directive released on Wednesday.

The re-introduction of the ATM charges came almost two years after the CBN and the Deposit Money Banks cancelled the N100 ATM charge in December 2012.

The new directive for the reintroduction of the charge was posted on the CBN website, but instead of N100 per withdrawal, customers using other banks’ ATMs will now pay N65.

According to the order, which was contained in the circular signed by the Director, Banking and Payment Systems Department, CBN, Mr. Dipo Fatokun, the central bank and the DMBs agreed to re-introduce the ATM charges because the cost of transaction was becoming too burdensome for the banks to continue to bear.

Fatokun also said the charge would become effective on the fourth ATM withdrawal in a month, thus making the first three withdrawals on other banks’ ATMs within the month free.

The circular dated August 13, 2014, read, “The CBN hereby issues the following directives: The re-introduction of ‘Remote-on-us’ ATM cash withdrawal transaction fee, which will now be N65 per transaction, to cover the remuneration of switches, ATM monitoring and fit-notes processing by acquiring banks; the new charge shall apply as from the fourth ‘Remote-on-us’ withdrawal (in a month) by a cardholder, thereby making the first three ‘Remote on us’ transaction free for the cardholder, but to the paid by the issuing bank.

“September 1, 2014 shall be the effective date for the implementation of the new charge; banks are expected to conduct adequate sensitisation to the customers on the introduction of the new fee; all ATM cash withdrawals on the ATM of issuing banks shall be at no cost to the cardholder.”

The CBN, in collaboration with the Bankers’ Committee, had in December 2012 transferred the payment of the N100 fee on ‘Remote-on-us’ ATM cash withdrawal transactions to the issuing banks.

The fee was shared between the acquiring bank, issuing bank and switch companies at the commencement of the arrangement.

However, Fatokun, in the latest circular, noted that issuing banks had during the commencement of the arrangement in 2012 decided to waive the issuer fee of N35, which should ordinarily have been an income to them.

He further said, “Consequently, banks only bore the cost of N65 each time their customers use another banks’ ATMs.

“However, as a result of the unintended consequences of the decision, which has resulted in substantial cost burden incurred by banks in defraying the cost of the service, the payment structure for card carrying bank customers is hereby reviewed in line with present realities.”


Source: Business News

Ogun Students Protest Fees Reduction

Some students of Olabisi Onabanjo University, Ago- Iwoye, Ogun State, on Thursday marched on the Ogun State Government House in Oke-mosan, Abeokuta, to protest what they described as a “tactical and jamboree deduction of increased school fees”.

PREMIUM TIMES gathered from the protesting students that Governor Ibikunle Amosun’s “jamboree” reduction of the university’s tuition fee was from about N192, 000 to about N176,000.

However, the Ogun State Commissioner for Education, Science, and Technology, Segun Odubela had while announcing the reduction on Tuesday said medical students of Olabisi Onabanjo University, OOU,, who are currently paying N301,610 will henceforth pay N176,596 from next session, representing a 41.4 per cent reduction.

Mr. Odubela said students of the Faculty of Arts in the same university will be paying N81,112 instead of the current fee of N126,540, a 35.9 per cent reduction.

Speaking with PREMIUM TIMES on phone, Falola Ahmed, the leader of the Ogun State chapter of the National Association of Nigerian Student, NANS, described Mr. Amosun as “a pathological liar” who wanted to use the “tactical deduction” to score cheap political goals.

“The governor has been making political statements about the fees he reduced, but this is a jamboree reduction, it is a tactical deduction. If he must reduce the tuition fee, he must reduce it to the minimum affordable to the people of Ogun State,” Mr. Ahmed said.

“As we speak, over 1,000 students of OOU are presently on their way to Oke Mosan to protest. We want Ibukunle Amosun to be sincere and stop media lies. He should fix the laboratories in the school.”

He alleged that the governor had organised an opposing group, composed of students of Moshood Abiola Polytechnic, MAPOLY, who would visit the Government House by 1 p.m. for a “thank you visit.” He also claimed that the governor paid the MAPOLY students N500 each.

“The clashes will start between the aggrieved and the hired,” he stated.

Another student leader, who gave his name as Success, said the students were revolting following a directive that the reduction in school fees would be implemented next session.

“The school fees have been reduced by mere talk and not implementation. The implementation is billed for next session. We want it implemented now because it is a political gimmick,” Success said.


Source: Premium Times News

OAU To Participate In Maiden Quantity Survey Convention

At least students from 20 higher institutions would attend the first annual convention of the National Association of Quantity Surveying Students (NAQSS) South West, Zone, which will hold from 15-16 August at the Federal University of Technology Akure, FUTA, Ondo State.

The convention with the theme/lecture, “Emerging Development In Nigeria Construction Industry; How Can Young Quantity Surveyors Optimize The Opportunity Available?,” would be delivered by Mr. Ogunfidodo Adegbemibo ‘Ade, the National Vice President, Nigeria Institute of Quantity Surveyor (NIQS) and the Chairman, NIQS Lagos chapter, Mr Shonubi Olayemi.
President of the Nigerian Institute of Quantity Surveyors, Mr Agele Alufohai

President of the Nigerian Institute of Quantity Surveyors, Mr Agele Alufohai

Other dignitaries billed to attend are the President, Nigeria Institute of Quantity Surveyor (NIQS) Mr Murtala
Aliyu, who is the Chairman of the occasion, former minister, Mr. Onashile Obafemi, the Vice President west Africa Association of Quantity Surveyor (AAQS), among others.

In a statement made available to P.M.NEWS Campus Square, Stanley Orji, a student from Obafemi Awolowo University, who doubles as the Chairman NAQSS southwest transition committee, said some of the institutions expected include Obafemi Awolowo University (OAU) Ile-Ife; Federal University of Technology Akure (FUTA); Federal Polytechnic Ede; Federal Polytechnic Offa; Osun State College of Technology (OSCOTECH) Esa-Oke; Osun State Polytechnic (OSPOLY) Iree; Ibadan Polytechnic; Lagos State Polytechnic (LASPOTECH) Ikorodu and Yaba College of Technology (YABATECH) Lagos.

Others are Moshud Abiola Polytechnic (MaPoly) Abeokuta; Rufos Giwa Polytechnic (RUGIPOL) Owo; Federal Polytechnic Ilaro; Kwara state Polytechnic; Federal Polytechnic Ado-ekiti; Joseph Ayobabalola University Ikeji-arakeji; Interlink Polytechnic and University of Lagos (UniLag).
The association comprised all Quantity Surveying students of higher institutions in Kwara State and western Nigeria.


Source: PM News

OAU Fee Hike Novella (Episode 10)

Who is calling me now jare, Tunde thought. Tunde's Mum called to inform him that she is trying to get the school fee and has been able to raise 8,000naira so far,she also told him she wouldn't be able to send his weekly stipend of 1000naira, she sounded sober on phone and with this ended the call.I didn't mention to you that Tunde's home is located at Iropora(a small village in Ekiti State) so the mum wasn't aware of any increment in school fee or any protest in OAU and Tunde decided not to tell her because he didnt want her to worry too much,all his hope now hinged on the school management not increasing stalites fee. Tunde dropped the call and decided not to bother himself thinking too much,he continued chatting with his friends and left some few minutes later.

Fresh Students who had arrived were checking into their rooms, presenting their documents at the gate to the hall wardens before proceeding into the hostel.Later in the day the SU released information concerning the orientation of the freshers.When Tunde read the release,he needed no one to tell him that another protest will be held soon after the orientation.Well,it is freshers that are concerned sha, i shouldn't kill myself;Tunde consoled himself,he never knew the fate the will befall him the next day.Tunde retired into his new room at Awo hall where he was squating at around 8pm,tired he fell asleep an hour later not minding the noise been made by his new roomates.

Tunde woke up the next morning very early and washed his clothes. Tunde saw guys gathered around Awo Cafe discussing when he decided to join them so he would know what the discussion centered on.When he got there,he met Ayo who on sighting him,started hailing him. Tunde,my main Man,Iwe of OAU,you dan hear the NEWS wey dey sup for OAU now?Ayo asked Tunde.No i havn't,Tunde replied. Well, our school fee has been increased, na 40 sumtin thousand una go pay now, you are in Med.Rehab, are you not? Ayo innocently asked Tunde, without waiting for an answer Ayo continued, if na Med Rehab you dey, please go prepare your 40thousand naira plus, Ayo concluded.Stop everything you are saying, must you always talk? Tunde angrily asked Ayo. Please you have to direct your anger at DSA and not me, Ayo also replied,laughing and surprised at Tunde's action at same time. Tunde left the guys and went back to his room.Good Morning Tunde,how you dy?Saheed a new roomate of Tunde greeted.He didnt received answer as Tunde was deep in thought,he was thinking about how he would manage to raise 40thousand naira or how he will break the news to his Mum,or my dream will end abruptly, i ater slept off.

Episode 11 loading...


 The writer of this story, Oyedeji Olanrewaju is a Part 2 student of  the Department of Accounting, Obafemi Awolowo University. You can reach Oyedeji through his e-mail: Olanrewajusamuel8@gmail.com

9ice Releases Campaign Poster For House Of Reps

Abolore Akande Popularly called 9ice has declared his intention to go into Politics. 9ice is yet to indicate any Political Party now though.

In January 2014 the pic below saw Abolore’s intention to go into Politics made public but he refuted the story claiming he was on the set of a music video and a member of his team posted the image.

AIRTEL Introduces Android Internet Subscription(AIS)

These GSM provider are trying to bring down data subscription affordable for Nigeria. That is why Airtel came up with a new package for Nigeria.

These are new Airtel data bundle for android users.

The Android Bundles are designed to help you get more from your Android device. With the Android bundle you will never have to worry about how much data you consume.
The Android Bundle allows you to enjoy browsing the way you like.

To activate the 2GB Android bundle @ N2000 for 30days, simply dial *437#
To activate the 4.5GB Android bundle @ N3500 for 30days, simply dial *438#
To check your Android data balance, simply dial *223#

BURN RATE
1 kobo/kb from 9:59pm - 5:59am & 1.5 kobo/kb from 5:59am - 9:59pm

Life just keeps getting easier on the No1 http://www.africa.airtel.com/wps/wcm/connect/africarevamp/Nigeria/Home/personal/Internet/Services/Android-Bundlemobile Internet service provider that makes you Come Alive in Nigeria! Tell your friends and family about it.

Full Fixtures For The 2014/2015 English Premier League Season

The fixture list for the 2014/15 Barclays Premier League season has been released.


Please find below the fixtures. All kick-off times are 3pm, unless stated. Please note these fixtures are subject to change.

16 August 2014

Arsenal v Crystal Palace
Burnley v Chelsea
Leicester City v Everton
Liverpool v Southampton
Manchester United v Swansea City
Newcastle United v Manchester City
Queens Park Rangers v Hull City
Stoke City v Aston Villa
West Bromwich Albion v Sunderland
West Ham United v Tottenham Hotspur

23 August 2014

Aston Villa v Newcastle United
Chelsea v Leicester City
Crystal Palace v West Ham United
Everton v Arsenal
Hull City v Stoke City
Manchester City v Liverpool
Southampton v West Bromwich Albion
Sunderland v Manchester United
Swansea City v Burnley
Tottenham Hotspur v Queens Park Rangers

30 August 2014

Aston Villa v Hull City
Burnley v Manchester United
Everton v Chelsea
Leicester City v Arsenal
Manchester City v Stoke City
Newcastle United v Crystal Palace
Queens Park Rangers v Sunderland
Swansea City v West Bromwich Albion
Tottenham Hotspur v Liverpool
West Ham United v Southampton

13 September 2014

Arsenal v Manchester City
Chelsea v Swansea City
Crystal Palace v Burnley
Hull City v West Ham United
Liverpool v Aston Villa
Manchester United v Queens Park Rangers
Southampton v Newcastle United
Stoke City v Leicester City
Sunderland v Tottenham Hotspur
West Bromwich Albion v Everton

20 September 2014

Aston Villa v Arsenal
Burnley v Sunderland
Everton v Crystal Palace
Leicester City v Manchester United
Manchester City v Chelsea
Newcastle United v Hull City
Queens Park Rangers v Stoke City
Swansea City v Southampton
Tottenham Hotspur v West Bromwich Albion
West Ham United v Liverpool

27 September 2014

Arsenal v Tottenham Hotspur
Chelsea v Aston Villa
Crystal Palace v Leicester City
Hull City v Manchester City
Liverpool v Everton
Manchester United v West Ham United
Southampton v Queens Park Rangers
Stoke City v Newcastle United
Sunderland v Swansea City
West Bromwich Albion v Burnley

4 October 2014

Aston Villa v Manchester City
Chelsea v Arsenal
Hull City v Crystal Palace
Leicester City v Burnley
Liverpool v West Bromwich Albion
Manchester United v Everton
Sunderland v Stoke City
Swansea City v Newcastle United
Tottenham Hotspur v Southampton
West Ham United v Queens Park Rangers

18 October 2014

Arsenal v Hull City
Burnley v West Ham United
Crystal Palace v Chelsea
Everton v Aston Villa
Manchester City v Tottenham Hotspur
Newcastle United v Leicester City
Queens Park Rangers v Liverpool
Southampton v Sunderland
Stoke City v Swansea City
West Bromwich Albion v Manchester United

25 October 2014

Burnley v Everton
Liverpool v Hull City
Manchester United v Chelsea
Queens Park Rangers v Aston Villa
Southampton v Stoke City
Sunderland v Arsenal
Swansea City v Leicester City
Tottenham Hotspur v Newcastle United
West Bromwich Albion v Crystal Palace
West Ham United v Manchester City

1 November 2014

Arsenal v Burnley
Aston Villa v Tottenham Hotspur
Chelsea v Queens Park Rangers
Crystal Palace v Sunderland
Everton v Swansea City
Hull City v Southampton
Leicester City v West Bromwich Albion
Manchester City v Manchester United
Newcastle United v Liverpool
Stoke City v West Ham United

8 November 2014

Burnley v Hull City
Liverpool v Chelsea
Manchester United v Crystal Palace
Queens Park Rangers v Manchester City
Southampton v Leicester City
Sunderland v Everton
Swansea City v Arsenal
Tottenham Hotspur v Stoke City
West Bromwich Albion v Newcastle United
West Ham United v Aston Villa

22 November 2014

Arsenal v Manchester United
Aston Villa v Southampton
Chelsea v West Bromwich Albion
Crystal Palace v Liverpool
Everton v West Ham United
Hull City v Tottenham Hotspur
Leicester City v Sunderland
Manchester City v Swansea City
Newcastle United v Queens Park Rangers
Stoke City v Burnley

29 November 2014

Burnley v Aston Villa
Liverpool v Stoke City
Manchester United v Hull City
Queens Park Rangers v Leicester City
Southampton v Manchester City
Sunderland v Chelsea
Swansea City v Crystal Palace
Tottenham Hotspur v Everton
West Bromwich Albion v Arsenal
West Ham United v Newcastle United

2 December 2014

Arsenal v Southampton, 7.45pm
Burnley v Newcastle United, 7.45pm
Crystal Palace v Aston Villa, 8pm
Leicester City v Liverpool, 7.45pm
Manchester United v Stoke City, 7.45pm
Swansea City v Queens Park Rangers, 7.45pm
West Bromwich Albion v West Ham United, 8pm

3 December 2014

Chelsea v Tottenham Hotspur, 7.45pm
Everton v Hull City, 7.45pm
Sunderland v Manchester City, 7.45pm

6 December 2014

Aston Villa v Leicester City
Hull City v West Bromwich Albion
Liverpool v Sunderland
Manchester City v Everton
Newcastle United v Chelsea
Queens Park Rangers v Burnley
Southampton v Manchester United
Stoke City v Arsenal
Tottenham Hotspur v Crystal Palace
West Ham United v Swansea City

13 December 2014

Arsenal v Newcastle United
Burnley v Southampton
Chelsea v Hull City
Crystal Palace v Stoke City
Everton v Queens Park Rangers
Leicester City v Manchester City
Manchester United v Liverpool
Sunderland v West Ham United
Swansea City v Tottenham Hotspur
West Bromwich Albion v Aston Villa

20 December 2014

Aston Villa v Manchester United
Hull City v Swansea City
Liverpool v Arsenal
Manchester City v Crystal Palace
Newcastle United v Sunderland
Queens Park Rangers v West Bromwich Albion
Southampton v Everton
Stoke City v Chelsea
Tottenham Hotspur v Burnley
West Ham United v Leicester City

26 December 2014

Arsenal v Queens Park Rangers
Burnley v Liverpool
Chelsea v West Ham United
Crystal Palace v Southampton
Everton v Stoke City
Leicester City v Tottenham Hotspur
Manchester United v Newcastle United
Sunderland v Hull City
Swansea City v Aston Villa
West Bromwich Albion v Manchester City

28 December 2014

Aston Villa v Sunderland
Hull City v Leicester City
Liverpool v Swansea City
Manchester City v Burnley
Newcastle United v Everton
Queens Park Rangers v Crystal Palace
Southampton v Chelsea
Stoke City v West Bromwich Albion
Tottenham Hotspur v Manchester United
West Ham United v Arsenal

1 January 2015

Aston Villa v Crystal Palace
Hull City v Everton
Liverpool v Leicester City
Manchester City v Sunderland
Newcastle United v Burnley
Queens Park Rangers v Swansea City
Southampton v Arsenal
Stoke City v Manchester United
Tottenham Hotspur v Chelsea
West Ham United v West Bromwich Albion

10 January 2015

Arsenal v Stoke City
Burnley v Queens Park Rangers
Chelsea v Newcastle United
Crystal Palace v Tottenham Hotspur
Everton v Manchester City
Leicester City v Aston Villa
Manchester United v Southampton
Sunderland v Liverpool
Swansea City v West Ham United
West Bromwich Albion v Hull City

17 January 2015

Aston Villa v Liverpool
Burnley v Crystal Palace
Everton v West Bromwich Albion
Leicester City v Stoke City
Manchester City v Arsenal
Newcastle United v Southampton
Queens Park Rangers v Manchester United
Swansea City v Chelsea
Tottenham Hotspur v Sunderland
West Ham United v Hull City

31 January 2015

Arsenal v Aston Villa
Chelsea v Manchester City
Crystal Palace v Everton
Hull City v Newcastle United
Liverpool v West Ham United
Manchester United v Leicester City
Southampton v Swansea City
Stoke City v Queens Park Rangers
Sunderland v Burnley
West Bromwich Albion v Tottenham Hotspur

7 February 2015

Aston Villa v Chelsea
Burnley v West Bromwich Albion
Everton v Liverpool
Leicester City v Crystal Palace
Manchester City v Hull City
Newcastle United v Stoke City
Queens Park Rangers v Southampton
Swansea City v Sunderland
Tottenham Hotspur v Arsenal
West Ham United v Manchester United

10 February 2015

Arsenal v Leicester City, 7.45pm
Crystal Palace v Newcastle United, 8pm
Hull City v Aston Villa, 7.45pm
Liverpool v Tottenham Hotspur, 8pm
Manchester United v Burnley, 7.45pm
Southampton v West Ham United, 7.45pm
West Bromwich Albion v Swansea City, 8pm

11 February 2015

Chelsea v Everton, 7.45pm
Stoke City v Manchester City, 7.45pm
Sunderland v Queens Park Rangers, 7.45pm

21 February 2015

Aston Villa v Stoke City
Chelsea v Burnley
Crystal Palace v Arsenal
Everton v Leicester City
Hull City v Queens Park Rangers
Manchester City v Newcastle United
Southampton v Liverpool
Sunderland v West Bromwich Albion
Swansea City v Manchester United
Tottenham Hotspur v West Ham United

28 February 2015

Arsenal v Everton
Burnley v Swansea City
Leicester City v Chelsea
Liverpool v Manchester City
Manchester United v Sunderland
Newcastle United v Aston Villa
Queens Park Rangers v Tottenham Hotspur
Stoke City v Hull City
West Bromwich Albion v Southampton
West Ham United v Crystal Palace

3 March 2015

Aston Villa v West Bromwich Albion, 7.45pm
Hull City v Sunderland, 7.45pm
Liverpool v Burnley, 8pm
Queens Park Rangers v Arsenal, 7.45pm
Southampton v Crystal Palace, 7.45pm
West Ham United v Chelsea, 7.45pm

4 March 2015

Manchester City v Leicester City, 7.45pm
Newcastle United v Manchester United, 7.45pm
Stoke City v Everton, 7.45pm
Tottenham Hotspur v Swansea City, 7.45pm

14 March 2015

Arsenal v West Ham United
Burnley v Manchester City
Chelsea v Southampton
Crystal Palace v Queens Park Rangers
Everton v Newcastle United
Leicester City v Hull City
Manchester United v Tottenham Hotspur
Sunderland v Aston Villa
Swansea City v Liverpool
West Bromwich Albion v Stoke City

21 March 2015

Aston Villa v Swansea City
Hull City v Chelsea
Liverpool v Manchester United
Manchester City v West Bromwich Albion
Newcastle United v Arsenal
Queens Park Rangers v Everton
Southampton v Burnley
Stoke City v Crystal Palace
Tottenham Hotspur v Leicester City
West Ham United v Sunderland

4 April 2015

Arsenal v Liverpool
Burnley v Tottenham Hotspur
Chelsea v Stoke City
Crystal Palace v Manchester City
Everton v Southampton
Leicester City v West Ham United
Manchester United v Aston Villa
Sunderland v Newcastle United
Swansea City v Hull City
West Bromwich Albion v Queens Park Rangers

11 April 2015

Burnley v Arsenal
Liverpool v Newcastle United
Manchester United v Manchester City
Queens Park Rangers v Chelsea
Southampton v Hull City
Sunderland v Crystal Palace
Swansea City v Everton
Tottenham Hotspur v Aston Villa
West Bromwich Albion v Leicester City
West Ham United v Stoke City

18 April 2015

Arsenal v Sunderland
Aston Villa v Queens Park Rangers
Chelsea v Manchester United
Crystal Palace v West Bromwich Albion
Everton v Burnley
Hull City v Liverpool
Leicester City v Swansea City
Manchester City v West Ham United
Newcastle United v Tottenham Hotspur
Stoke City v Southampton

25 April 2015

Arsenal v Chelsea
Burnley v Leicester City
Crystal Palace v Hull City
Everton v Manchester United
Manchester City v Aston Villa
Newcastle United v Swansea City
Queens Park Rangers v West Ham United
Southampton v Tottenham Hotspur
Stoke City v Sunderland
West Bromwich Albion v Liverpool

2 May 2015

Aston Villa v Everton
Chelsea v Crystal Palace
Hull City v Arsenal
Leicester City v Newcastle United
Liverpool v Queens Park Rangers
Manchester United v West Bromwich Albion
Sunderland v Southampton
Swansea City v Stoke City
Tottenham Hotspur v Manchester City
West Ham United v Burnley

9 May 2015

Arsenal v Swansea City
Aston Villa v West Ham United
Chelsea v Liverpool
Crystal Palace v Manchester United
Everton v Sunderland
Hull City v Burnley
Leicester City v Southampton
Manchester City v Queens Park Rangers
Newcastle United v West Bromwich Albion
Stoke City v Tottenham Hotspur

16 May 2015

Burnley v Stoke City
Liverpool v Crystal Palace
Manchester United v Arsenal
Queens Park Rangers v Newcastle United
Southampton v Aston Villa
Sunderland v Leicester City
Swansea City v Manchester City
Tottenham Hotspur v Hull City
West Bromwich Albion v Chelsea
West Ham United v Everton

24 May 2015

Arsenal v West Bromwich Albion
Aston Villa v Burnley
Chelsea v Sunderland
Crystal Palace v Swansea City
Everton v Tottenham Hotspur
Hull City v Manchester United
Leicester City v Queens Park Rangers
Manchester City v Southampton
Newcastle United v West Ham United
Stoke City v Liverpool