#N50 million

[betanewsngr]

Police recover N50 million stolen from Mr Ibu, charge son and lover

[tracknews1]

Almost 4Million Nigerians Applied For N50,000 Tinubu Govt’s Palliative, Only 1 Million Will Get – Minister

The Nigerian Government on Thursday said almost 4 million Nigerians applied for the palliative grant of N50,000, but only 1 million beneficiaries were accommodated for palliative grant aimed to alleviate economic hardship worsened by recent challenges. The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, disclosed this on her X account, stating that 60 percent of the proposed one…

[city24times]

Former Nigerian House Of Reps Member, Robinson Uwak Allegedly Orders Police To Arrest Estranged Wife’s Father

A former member of the House of Representatives, Robinson Uwak, has allegedly influenced the police to arrest the father of his estranged wife, Kezia.

Uwak is a former member of the House of Representatives who represented Oron, Mbo, Okobo, Ure-Offong/Oruko and Udung-Uko federal constituency of Akwa Ibom State at the 7th Assembly.

“Honorable Robinson just sent policemen to arrest the lady’s father for nothing in Calabar where they live,” a source said. The alleged harassment of Kezia’s family comes amid several allegations of domestic violence levelled against the former lawmaker by his estranged wife. 

The woman had alleged that Uwak attempted to kill her for trying to leave the marriage. On May 29, she posted on Facebook that the former lawmaker strangled her and attempted to kill her, adding that he also inflicted physical injuries on her mother.  

She wrote, "Hon. Robinson Uwak strangled me and attempted to kill me when he found out I was trying to leave the marriage and he did this right in the room where my children were asleep.   "He kicked my parents out of his house at 2 am after he put a machete to my mom’s neck and kicked her twice to the ground causing her to injure herself and break her phone.   "He lied to me that he was not married to his ex-wife anymore- that he was divorced.   "He is now threatening to kill me and my parents for me leaving him. I have Pictures, Videos & Audio evidence. I got married to him after he deceived my family and I that he was divorced from his ex-wife.   "Stating that his marriage was annulled because it didn’t legally exist- this was a lie. He deceived my family and I into being married to him. I sit here in terrible pain from my head to my toes after I was terribly battered by my so-called “husband” while he accused me of unfounded and blatant lies.   "My neck is swollen and hurts- I can’t swallow well- from how he tied my neck with the nape of what I was wearing and used both hands to strangle me telling me he will “kill me and go to jail.”   "He used his feet to stomp on my chest with all of his might and I have severe chest pains & aches. He slapped and pounded my skull with his fists so many times- hitting my head hard against the tiles in his room over and over while my children slept in the next room.   “On the 27th of May around 8 am, he charged into my room where I sleep with my twins and started to accuse me falsely.   "Before I could open my mouth to even understand what was happening, he flung me on the floor and began to strangle me. I was screaming. I was horrified.   "He then told me to move to his room- next door- he locked all the windows and doors & commanded me to sit on the floor & then proceeded to tell me that I can never leave the marriage- and break up his home- he said will kill my family and I. He said he is ready to commit murder. He said it doesn’t matter how long it takes, 5-10-15-20 years, that he will find my parents and I and kill us.   "He will use N50 million, even N100 million to send kidnappers and killers to end my life and that of my parents. He said I cannot embarrass him maritally a second time.   "That he only let his first wife go because she didn’t have kids. But he will kill me before I leave him. And that I cannot have custody of his kids. He said I will always look over my shoulder in this country for the rest of my life.   "And that he will leave to the U.S. and pay people here in Nigeria to kill me and my parents. He swore over and over on a hard copy of the Bible that he will kill me & my parents.   "He claims he uses the services of the SSS (State Security Service) to track the phones of people in my life against their wills. Please his friends in DSS (Department of State Services) & SSS need to be investigated. He threatens my friends and family at any provocation.   "I found out he is still in a divorce tussle with his ex-wife and I began to make moves with my lawyer on how to leave the marriage because it means my marriage to him is void & he’s committing bigamy...”

Also on June 4, she alleged that her husband had been sponsoring people to share false stories about her despite having threatened to kill her. However, the lawmaker earlier this week accused the House of Representatives spokesperson, Benjamin Kalu of having an illicit affair with Kezia and being responsible for his broken marriage. According to Uwak, Kalu has refused to allow his (Robinson) family to run smoothly.

[nigeria-law]

Former Nigerian House Of Reps Member, Robinson Uwak Allegedly Orders Police To Arrest Estranged Wife’s Father

A former member of the House of Representatives, Robinson Uwak, has allegedly influenced the police to arrest the father of his estranged wife, Kezia.

Uwak is a former member of the House of Representatives who represented Oron, Mbo, Okobo, Ure-Offong/Oruko and Udung-Uko federal constituency of Akwa Ibom State at the 7th Assembly.

“Honorable Robinson just sent policemen to arrest the lady’s father for nothing in Calabar where they live,” a source said. The alleged harassment of Kezia’s family comes amid several allegations of domestic violence levelled against the former lawmaker by his estranged wife. 

The woman had alleged that Uwak attempted to kill her for trying to leave the marriage. On May 29, she posted on Facebook that the former lawmaker strangled her and attempted to kill her, adding that he also inflicted physical injuries on her mother.  

She wrote, "Hon. Robinson Uwak strangled me and attempted to kill me when he found out I was trying to leave the marriage and he did this right in the room where my children were asleep.   "He kicked my parents out of his house at 2 am after he put a machete to my mom’s neck and kicked her twice to the ground causing her to injure herself and break her phone.   "He lied to me that he was not married to his ex-wife anymore- that he was divorced.   "He is now threatening to kill me and my parents for me leaving him. I have Pictures, Videos & Audio evidence. I got married to him after he deceived my family and I that he was divorced from his ex-wife.   "Stating that his marriage was annulled because it didn’t legally exist- this was a lie. He deceived my family and I into being married to him. I sit here in terrible pain from my head to my toes after I was terribly battered by my so-called “husband” while he accused me of unfounded and blatant lies.   "My neck is swollen and hurts- I can’t swallow well- from how he tied my neck with the nape of what I was wearing and used both hands to strangle me telling me he will “kill me and go to jail.”   "He used his feet to stomp on my chest with all of his might and I have severe chest pains & aches. He slapped and pounded my skull with his fists so many times- hitting my head hard against the tiles in his room over and over while my children slept in the next room.   “On the 27th of May around 8 am, he charged into my room where I sleep with my twins and started to accuse me falsely.   "Before I could open my mouth to even understand what was happening, he flung me on the floor and began to strangle me. I was screaming. I was horrified.   "He then told me to move to his room- next door- he locked all the windows and doors & commanded me to sit on the floor & then proceeded to tell me that I can never leave the marriage- and break up his home- he said will kill my family and I. He said he is ready to commit murder. He said it doesn’t matter how long it takes, 5-10-15-20 years, that he will find my parents and I and kill us.   "He will use N50 million, even N100 million to send kidnappers and killers to end my life and that of my parents. He said I cannot embarrass him maritally a second time.   "That he only let his first wife go because she didn’t have kids. But he will kill me before I leave him. And that I cannot have custody of his kids. He said I will always look over my shoulder in this country for the rest of my life.   "And that he will leave to the U.S. and pay people here in Nigeria to kill me and my parents. He swore over and over on a hard copy of the Bible that he will kill me & my parents.   "He claims he uses the services of the SSS (State Security Service) to track the phones of people in my life against their wills. Please his friends in DSS (Department of State Services) & SSS need to be investigated. He threatens my friends and family at any provocation.   "I found out he is still in a divorce tussle with his ex-wife and I began to make moves with my lawyer on how to leave the marriage because it means my marriage to him is void & he’s committing bigamy...”

Also on June 4, she alleged that her husband had been sponsoring people to share false stories about her despite having threatened to kill her. However, the lawmaker earlier this week accused the House of Representatives spokesperson, Benjamin Kalu of having an illicit affair with Kezia and being responsible for his broken marriage. According to Uwak, Kalu has refused to allow his (Robinson) family to run smoothly. He also alleged that “despite being a married woman, Kalu continued his illicit affair with her, booking and inviting her to hotels to sleep with her”. He added, “When I confronted my wife about it, she cried and pleaded profusely at a family meeting and I forgave her. “Despite her pleas, she continued with her cheating, which led to the last altercation with me.” However, efforts to reach Uwak on his mobile line were not successful as it was unavailable for hours, up till the time of filing this report. 

[lawreports]

Former Nigerian House Of Reps Member, Robinson Uwak Allegedly Orders Police To Arrest Estranged Wife’s Father

A former member of the House of Representatives, Robinson Uwak, has allegedly influenced the police to arrest the father of his estranged wife, Kezia. Uwak is a former member of the House of Representatives who represented Oron, Mbo, Okobo, Ure-Offong/Oruko and Udung-Uko federal constituency of Akwa Ibom State at the 7th Assembly.

“Honorable Robinson just sent policemen to arrest the lady’s father for nothing in Calabar where they live,” a source said. The alleged harassment of Kezia’s family comes amid several allegations of domestic violence levelled against the former lawmaker by his estranged wife.  The woman had alleged that Uwak attempted to kill her for trying to leave the marriage. On May 29, she posted on Facebook that the former lawmaker strangled her and attempted to kill her, adding that he also inflicted physical injuries on her mother.   She wrote, "Hon. Robinson Uwak strangled me and attempted to kill me when he found out I was trying to leave the marriage and he did this right in the room where my children were asleep.

"He kicked my parents out of his house at 2 am after he put a machete to my mom’s neck and kicked her twice to the ground causing her to injure herself and break her phone.   "He lied to me that he was not married to his ex-wife anymore- that he was divorced.   "He is now threatening to kill me and my parents for me leaving him. I have Pictures, Videos & Audio evidence. I got married to him after he deceived my family and I that he was divorced from his ex-wife.  "Stating that his marriage was annulled because it didn’t legally exist- this was a lie. He deceived my family and I into being married to him. I sit here in terrible pain from my head to my toes after I was terribly battered by my so-called “husband” while he accused me of unfounded and blatant lies.   "My neck is swollen and hurts- I can’t swallow well- from how he tied my neck with the nape of what I was wearing and used both hands to strangle me telling me he will “kill me and go to jail.”

"He used his feet to stomp on my chest with all of his might and I have severe chest pains & aches. He slapped and pounded my skull with his fists so many times- hitting my head hard against the tiles in his room over and over while my children slept in the next room.   “On the 27th of May around 8 am, he charged into my room where I sleep with my twins and started to accuse me falsely.   "Before I could open my mouth to even understand what was happening, he flung me on the floor and began to strangle me. I was screaming. I was horrified.

"He then told me to move to his room- next door- he locked all the windows and doors & commanded me to sit on the floor & then proceeded to tell me that I can never leave the marriage- and break up his home- he said will kill my family and I. He said he is ready to commit murder. He said it doesn’t matter how long it takes, 5-10-15-20 years, that he will find my parents and I and kill us.   "He will use N50 million, even N100 million to send kidnappers and killers to end my life and that of my parents. He said I cannot embarrass him maritally a second time.

"That he only let his first wife go because she didn’t have kids. But he will kill me before I leave him. And that I cannot have custody of his kids. He said I will always look over my shoulder in this country for the rest of my life.   "And that he will leave to the U.S. and pay people here in Nigeria to kill me and my parents. He swore over and over on a hard copy of the Bible that he will kill me & my parents.

"He claims he uses the services of the SSS (State Security Service) to track the phones of people in my life against their wills. Please his friends in DSS (Department of State Services) & SSS need to be investigated. He threatens my friends and family at any provocation.   "I found out he is still in a divorce tussle with his ex-wife and I began to make moves with my lawyer on how to leave the marriage because it means my marriage to him is void & he’s committing bigamy...”

[ejesgistnews]

New N50 Electronic Money Transfer Levy Takes Effect.   Abuja, Nigeria – A wave of anger and frustration has swept across Nigeria as a new electronic money transfer levy, imposed by the Federal Government, came into effect on Monday, September 9, 2024.   The levy, which charges a one-time fee of ₦50 for transfers of ₦10,000 and above, has been met with widespread criticism and concerns about its impact on the already struggling economy.     Read Also :   Mobile payment platforms like OPay and Moniepoint notified their customers of the new levy, explaining that it is a direct charge imposed by the Federal Inland Revenue Service (FIRS) and not a fee collected by the platforms themselves. The introduction of the levy has sparked outrage among Nigerians, who are already grappling with rising inflation, unemployment, and other economic challenges. Critics argue that the levy is a disproportionate burden on ordinary citizens who rely on electronic transfers for daily transactions and remittances. President Bola Tinubu's administration has faced mounting criticism for its economic policies, which many Nigerians perceive as harsh and insensitive to the needs of the population. Despite repeated calls for sacrifices, the government has been accused of lavish spending, including the purchase of a presidential jet worth over $150 million and a yacht costing over ₦5 billion.   Additionally, the government's recent decision to increase fuel prices to ₦1500 per liter and devalue the naira has further exacerbated economic hardship and fueled discontent among Nigerians.   As the new levy takes effect, it remains to be seen how Nigerians will respond and whether the government will face increased pressure to reconsider its economic policies.

[newsbreak365blogs]

One of the students, Kwaghaondo Aondona Kingsley, managed to alert the public by posting a desperate message on his X account. The kidnappers who have taken 20 medical and dental students in Benue State are demanding a ransom of N50 million for their release. One of the students, Kwaghaondo Aondona Kingsley, managed to alert the […]

[gossipinfo]

“50million to anyone that will marry me” – 38-year-old single businesswoman offers as she looks for submissive husband (Video)

A 38-year-old unmarried businesswoman from Nigeria has declared her readiness to give any man who consents to marry her N50 million. The young woman, Ella Ada, is looking for a husband who doesn’t have to worry about financial obligations because she owns a sizable chicken farm. Ella was seen on a TikTok video expressing her desperate need for a partner who would be ready to get married while…

[aalawsng]

REGISTRATION REQUIREMENTS FOR AN INSURANCE BROKERING COMPANY

Registration with the Corporate Affairs Commission as a Limited Liability Company with Five (5) million Share Capital. 

Registration of the individual broker with the Nigerian Council of Registered Insurance Brokers (NCRIB)

Requirements for NCRIB Registration     

Copies of forms CO2 & CO7 stating that the Chief Executive Officer is a director with at least 25% equity shares in the Company.

Certificate of Incorporation.

Professional Indemnity Cover (any one loss 10m)

Memorandum & Articles of Association

Operations Manual of the Company

5-year Business Plan

Affidavit that: a) The Company has a Clients' Account b) The Company does not have more than 10% interest in a loss adjusting firm or Reinsurance Company

Application Fee N50, 000 payable on submission of application forms

The statutory fees are as follows

REGISTRATION FEE - N500, 000BUILDING LEVY - N200, 000PRE-INDUCTION TRAINING - N50, 000COMPULSORY LEVY - N50, 000ASSOCIATESHIP ADMISSION - N50, 000INDUCTION FEE - N30, 000

TOTAL:  N880, 000

Requirements for Individual Registration

Duly completed and signed Application Form (TO BE PROPOSED BY TWO ACIB OR FCIB HOLDERS)

Copies of all Credentials

Detailed Curriculum Vitae

Letter of Resignation from previous employer

Letter of Acceptance of Resignation from previous employer

Letter of Appointment from current employer

CEO must be a director in the broking outfit

CEO must be an insurance professional (Associate of the Chartered Insurance Institute of Nigeria) with at least 5 years post-qualification experience, two of which must be in a broking firm at senior management level.

Application for license as an Insurance Agent 

Registration with the National Insurance Commission (NAICOM)

Kindly note that: the application for registration/ renewal as an Insurance Broker under the Insurance Acts 2003 is made by the Chief Executive on behalf of the applicant organization. The application is made by filling NAICOM’s Form 20.

In addition, NAICOM carries out registration only twice a year. The first cycle commences in March and ends in May with the issuance of the license/ operating certificate while the second cycle commences in August and ends in October.

Submission of anti-money laundering registration in addition to NAICOM registration. This new guideline, provided in November, 2022 aims to ensure due diligence before licensing insurance institutions that may finance terrorism and proliferation of weapons of mass destruction. The requirements for this additional registration includes:

Completed and personally signed BOs Declaration Form (Appendix A) 

Notarised statement of net worth for all Beneficial Owners. 

Completed and personally signed (Politically Exposed Persons) Declaration Form 

Anti-Money Laundering, Combating The Financing Of Terrorism And Countring Proliferation Financing Of Weapons Of Mass Destruction In Financial Institutions  (AML/ CFT/ CPF) Compliance policy, which shall at a minimum cover: 

i. Compliance Unit/ Department structure; 

ii. Designation and status of a compliance officer; 

iii. Employee screening and monitoring; 

iv. Customer identification and verification; 

v. Customer due diligence measures;

vi. ML /TF /PF Risk Assessment; 

vii. AML/ CFT/ CPF Training of the board, executive/ senior management, and other employees; 

viii. Independent assessment of the AML/ CFT/ CPF Programme; 

ix. Record Keeping, Suspicious transaction monitoring and reporting. 

x. Oversight functions over Compliance activities.

[leedsomics]

Expanding the Triangle of U: The genome assembly of Hirschfeldia incana provides insights into chromosomal evolution, phylogenomics and high photosynthesis-related traits

The Brassiceae tribe encompasses many economically important crops and exhibits high intraspecific and interspecific phenotypic variation. After a shared whole-genome triplication (WGT) event (Br-, ~15.9 million years ago), different lineages and species underwent differential chromosomal rearrangements (diploidization) leading to diverse patterns of gene retention and loss (fractionation). Lineage diversification and genomic changes contributed to an array of divergence in morphology, biochemistry, and physiology underlying photosynthesis-related traits. The C3 species Hirschfeldia incana is studied as it displays high photosynthetic rates under high-light conditions. We present an improved chromosome-level genome assembly for H. incana (Nijmegen, v2.0) using nanopore and chromosome conformation capture (Hi-C) technologies, with 409Mb in size and an N50 of 52Mb (a 10x improvement over the previously published scaffold-level v1.0 assembly). The updated assembly and annotation allowed to investigate the WGT history of H. incana in a comparative phylogenomic framework from the Brassiceae ancestral genomic blocks and related diploidized crops. Hirschfeldia incana (x=7) shares extensive genome collinearity with Raphanus sativus (x=9). These two species share some commonalities with Brassica rapa and B. oleracea (A genome, x=10 and C genome, x=9, respectively) and other similarities with B. nigra (B genome, x=8). Phylogenetic analysis revealed that H. incana and R. sativus form a monophyletic clade in between the Brassica A/C and B genomes. We postulate that H. incana and R. sativus genomes are results of reciprocal hybridization combinations of the Brassica A/C and B genome types. Our results might explain the discrepancy observed in published studies regarding phylogenetic placement of H. incana and R. sativus in relation to the ''Triangle of U'' species. Expression analysis of WGT retained gene copies revealed sub-genome expression divergence, likely due to neo- or sub-functionalization. Finally, we highlighted genes associated with physio-biochemical-anatomical adaptive changes observed in H. incana which likely facilitate its high-photosynthesis traits under high light. http://dlvr.it/T7KlM4

[gidd-blog1]

BREAKING: Lagos court grants Emefiele N50 million bail

A High Court sitting in Ikeja, Lagos State, has granted bail to Godwin Emefiele, the embattled former governor of the Central Bank of Nigeria (CBN), in the sum of N50 million. Ruling on the bail application on Friday, the presiding judge, Rahmon Oshodi, admitted Emefiele on bail with two sureties in like sum. The former CBN governor is facing trial in Lagos on a 26-count charge bordering on abuse…

[hardynwa]

Bishops, Imams pray for Abba Kyari

The Nigerian Cleric Council of Bishops and Imams, NCCBI, has organised a prayer session for the former head of the Intelligent Response Team, IRT, Abba Kyari, in Abuja.Also, they called on President Bola Tinubu to look at the security situation in the country and release him.The group of Bishops and Imams held the prayer for Abba Kyari at the Unity Fountain in Abuja on Thursday.They said it was in collaboration with Leadwell Africa Global Initiative to offer prayer for peace in the country and urged Nigerians to support the current leadership in Nigeria.Bishop Lawrence Ngene, President of NCCBI, who addressed the media said they were “driven by the spirit of oneness and “as concerned citizens of our dear nation”.He added that it was to “share the pain we suffered from the country that is being covered with a cloud of darkness and stained with the blood of some of her innocent citizens.”Abba Kyari detainedRecall that the embattled Deputy Commis­sioner of Police, Abba Kyari, was retained in the custody of the Nigerian Correctional Service, NCoS, last year. This was despite being granted N50 million bail.The bail was in relation to the allegation that Kyari failed to declare his assets to the National Drug Law Enforcement Agency, NDLEA.Furthermore, the ‘Super Cop’ is facing a separate charge over alleged involvement in drug trafficking. He was arrested in 2022.The bishop said the souls of the innocent ones were “either restless in the sky or in the hands of kidnappers, bandits, armed robbers and terrorists, who have turned our day to perilous and fearful night, where evils prevail.”He noted that as concerned citizens of Nigeria, the bishops and imams feel the pain “over the ugly situations in the country.“We feel the pain and the loss of the departed souls of innocent Nigerians. Their lives were cut short by the enemies of the country called bandits, armed robbers, kidnappers and terrorists.“We feel the pain of the rising cases of insecurities across the country” and “the rising cost of living in Nigeria and hardship in the land.“We feel the pain of Nigerians. They feel disappointed that fellow Nigerians take advantage of the weakness of Naira against dollars to inflate and manipulate prices of goods and services in the country.“We feel the pain of the rising cases of corruption. This ranges from embezzlement of public funds, nepotism, favouritism, tribalism, amongst others that have taken the order of the day both at the public and private institutions.”Why we pray for Abba Kyiari — Bishops, ImamsThe bishops and imams, who prayed for Abba Kyari said it’s sad that “common Nigerians are losing their lives. Others have lost hope and confidence in the judiciary system.”Furthermore, he noted that some Nigerians have also “lost trust in their representatives at both the lower and upper chambers of the national assembly.”They decried the “loss of hope and trust in the electoral system in Nigeria. There are Nigerians in the Nigerian Correctional Centres that have not been tried at competent jurisdiction for their alleged crimes.”The bishops and imams further said they “feel the pain of Nigerians who are calling for the immediate release of Abba Kyari and his team.“It is upon these pains in the hearts of Nigerians that have prompted our gathering here today as concerned citizens of Nigeria. We pray to God Almighty to intervene in the ugly situations in which we have found ourselves as a nation.‘It’s urgent’“It is upon these pains that we are here to pray to President Ahmed Bola Tinubu, members of the National Assembly, the judiciary, and all the security agencies. They should wake up to their mandates and rescue Nigerians from the pains in their hearts.“Most urgently, is the pain arising from the insecurities in the country, which is very alarming, and this is where as concerned citizens of our dear nation, we bishops and imams pray to God Almighty and to the leadership of Nigeria to bring Abba Kyari and his team back to Nigerian security architecture“We know how the doggedness of Abba Kyari and his team brought down high-profile criminals, terrorists, assassins, and kidnappers.“We share the feeling of the majority of Nigerians that Abba Kyari and his team can largely take away the pain of fear of unknown gunmen.“We pray for the presence of tested and trusted hands of Abb a Kyari,” the bishops and imams prayed. And we pray for good governance and good leadership in Nigeria,” they added. Read the full article

[9jaboizgistworld-blog]

How to Calculate Charges On Moniepoint POS and Save Money

If you are a business owner in Nigeria, you might have heard of Moniepoint POS, a device that allows you to accept card and transfer payments from your customers. Moniepoint POS is one of the most popular and reliable POS services in the country, with over 100,000 agents and millions of transactions processed every month. But how much does Moniepoint POS charge you for each transaction? And how can you reduce your charges and save money? In this article, we will explain how to calculate charges on Moniepoint POS, and share some tips and tricks to help you optimize your POS usage and increase your profits.

How to Calculate Charges On Moniepoint POS

Moniepoint POS charges you differently depending on the type and amount of the transaction. There are two main types of transactions: withdrawals and transfers. Withdrawals Withdrawals are when you allow your customers to withdraw cash from their bank accounts using your Moniepoint POS device. For withdrawals, Moniepoint POS charges you a percentage or a flat rate of the transaction amount, depending on the amount. - For withdrawals between N1 to N20,000, Moniepoint POS charges 0.5% of the transaction amount. For example, if you withdraw N10,000, you will pay N50 as a charge. - For withdrawals above N20,000, Moniepoint POS charges a flat rate of N100. For example, if you withdraw N50,000, you will pay N100 as a charge. To calculate the charge for a withdrawal, you can use this formula: Charge = 0.5% x Amount (if Amount N20,000) Transfers Transfers are when you allow your customers to send money to another bank account using your Moniepoint POS device. For transfers, Moniepoint POS charges you a flat rate of N20, regardless of the amount. To calculate the charge for a transfer, you can use this formula: Charge = N20

Moniepoint POS Transaction Charges

Moniepoint POS stands out for its simplicity and affordability, making it an ideal choice for businesses of all sizes. Here's a closer look at the key aspects of Moniepoint transaction charges: 1. Withdrawal Charges Moniepoint charges a minimal fee for withdrawals, ensuring that businesses can maximize their profits. The withdrawal charges are as follows: - For transactions up to N20,000: 0.5% of the transaction amount. - For transactions above N20,000: A flat rate of N100. This transparent fee structure allows businesses to plan their finances effectively, avoiding any surprises in transaction costs. 2. Flat Fee for Withdrawals Moniepoint further simplifies its fee structure by applying a flat fee of ₦100 for any withdrawal amount. This cost-effective approach makes Moniepoint an attractive option for businesses looking to optimize their expenses. 3. Cost-Effective Option to Kickstart Your Business Starting a business involves careful financial planning, and Moniepoint understands the importance of keeping costs manageable. With a flat fee of ₦100 for withdrawals and a minimal percentage for transactions within the N1 to N20,000 range, Moniepoint provides a cost-effective solution for businesses at various stages of growth.

How to Reduce Charges On Moniepoint POS and Save Money

Now that you know how to calculate charges on Moniepoint POS, you might be wondering how to reduce them and save money. Here are some tips and tricks that you can use to optimize your POS usage and increase your profits. Tip 1: Set a Minimum Withdrawal Amount One way to reduce your charges on Moniepoint POS is to set a minimum withdrawal amount for your customers. This way, you can avoid paying the 0.5% charge for small withdrawals, and pay the flat rate of N100 for larger withdrawals. For example, if you set a minimum withdrawal amount of N10,000, you will pay N50 as a charge for each withdrawal, instead of paying N5 for a N1,000 withdrawal, or N25 for a N5,000 withdrawal. This will save you N45 or N20 per withdrawal, respectively. To set a minimum withdrawal amount, you can display a sign or a notice at your POS location, or inform your customers verbally before they make a withdrawal.

Tip 2: Encourage Your Customers to Use Transfers

Another way to reduce your charges on Moniepoint POS is to encourage your customers to use transfers instead of withdrawals. Transfers have a lower charge of N20, compared to the 0.5% or N100 charge for withdrawals. For example, if your customer wants to withdraw N50,000, you can suggest them to transfer the money to their own bank account, or to someone else's bank account, using your Moniepoint POS device. This way, you will pay N20 as a charge, instead of N100. To encourage your customers to use transfers, you can offer them incentives, such as discounts, rewards, or freebies. You can also educate them about the benefits of transfers, such as convenience, security, and speed. Tip 3: Negotiate With Moniepoint for Lower Charges A third way to reduce your charges on Moniepoint POS is to negotiate with Moniepoint for lower charges. Moniepoint offers different commission structures for different agents, depending on their volume, location, and performance. If you are a high-volume, loyal, and consistent agent, you might be able to negotiate with Moniepoint for lower charges, or higher commissions. You can contact Moniepoint's customer support or your account manager, and request for a review of your charges and commissions. To negotiate with Moniepoint, you should prepare some data and evidence to support your case, such as your transaction history, your customer feedback, your market share, and your growth potential.

FAQs

What is Moniepoint POS?Moniepoint POS is a device that allows you to accept card and transfer payments for your business. Moniepoint POS is one of the most popular and reliable POS services in Nigeria, with over 100,000 agents and millions of transactions processed every month.How much does Moniepoint POS charge for withdrawals?Moniepoint POS charges differently for withdrawals depending on the amount. For withdrawals between N1 to N20,000, Moniepoint POS charges 0.5% of the transaction amount. For withdrawals above N20,000, Moniepoint POS charges a flat rate of N100.How much does Moniepoint POS charge for transfers?Moniepoint POS charges a flat rate of N20 for transfers, regardless of the amount.How Much Does Moniepoint Charge For 10,000?Moniepoint charges a flat rate of N100 for withdrawals above N20,000. So, for a withdrawal of N10,000, the charge will be N100. This is the same for any withdrawal amount between N1 and N20,000. For transfers, Moniepoint charges a flat rate of N20, regardless of the amount.How can I reduce charges on Moniepoint POS and save money?You can reduce charges on Moniepoint POS and save money by setting a minimum withdrawal amount, encouraging your customers to use transfers, and negotiating with Moniepoint for lower charges or higher commissions.How can I get a Moniepoint POS device?You can get a Moniepoint POS device by visiting their website or blog, and filling out an application form. You will need to provide some personal and business details, such as your name, phone number, email address, bank account number, business name, location, and type. You will also need to pay a one-time fee of N25,000 for the device.What is the transaction charge for withdrawals below N1,000? Moniepoint's transaction charges apply to withdrawals starting from N1, and the fee is based on the transaction amount. For withdrawals below N1,000, the 0.5% fee still applies.

Conclusion

Moniepoint POS is a great device that allows you to accept card and transfer payments for your business. However, you should also be aware of the charges that Moniepoint POS imposes on each transaction, and how to calculate them. In this article, we explained how to calculate charges on Moniepoint POS, and shared some tips and tricks to help you reduce them and save money. By following these tips and tricks, you can optimize your POS usage and increase your profits. We hope you found this article helpful and informative. If you have any questions or feedback, please feel free to leave a comment below. And if you are interested in getting a Moniepoint POS device, you can visit their website or blog for more information. Read the full article

[reportafrique]

Mr. Ibu's Shocking Scandal: N50 Million Recovered, Son and Lover Face Charges

Detectives at the Force Criminal Investigation Department Annex, Alagbion, Ikoyi, Lagos, have made a significant breakthrough in the case involving the hacked bank account of renowned Nollywood actor, Mr. John Okafor, popularly known as Mr. Ibu. The investigation has revealed a complex web of conspiracy and financial malfeasance, leading to the arrest of Mr. Ibu's son, Onyebuchi Okafor, and his lover, Jasmine Okekeagwu. Ibu with his adopted daughter, Jasmine The unraveling of this financial scandal began with a petition filed by Diamond Waves Law on behalf of Mr. Ibu's wife, Stella Maris Okafor, on September 6, 2023. The petition alleged that Mr. Ibu's sons, Daniel and Valentine Okafor, along with Jasmine Okekeagwu, conspired to defraud the actor. The subsequent investigations by the Force Criminal Investigation Department (FCID) revealed a shocking misuse of funds meant for Mr. Ibu's medical bills. According to ASP Mayegun Aminat, the spokesperson for the FCID, Mr. Ibu initiated a public fundraising campaign to support his medical expenses. The funds garnered from fans, industry players, and well-wishers were deposited into a dedicated bank account, managed initially by Mrs. Stella Maris Chinyere Okafor, Mr. Ibu's wife. However, the investigation uncovered a sinister plot where Mr. Ibu's sons and Jasmine Okekeagwu manipulated Mrs. Stella Maris Okafor to gain control of Mr. Ibu's phone and subsequently hack into his banking details. "Onyeabuchi Daniel Okafor and Jasmine Chioma Okekeagwu manipulated Mrs. Stella Maris Okafor, took possession of Mr. Ibu’s phone, and hacked into the banking details therein," explained ASP Mayegun Aminat. "Through this fraudulent act, Onyeabuchi Okafor and Jasmine Okekeagwu started transferring funds from Mr. Ibu’s public fundraising account to Onyeabuchi Okafor’s personal bank." Forensic analysis revealed that a total of N55 million had been criminally transferred before the arrest of the suspects. Further investigation unearthed incriminating WhatsApp messages between Jasmine Chioma and Daniel Okafor, detailing the stages of their fraudulent plans. It was also discovered that the duo had a sham marriage at the Ikoyi Marriage Registry, with plans to escape to the United Kingdom with their ill-gotten gains. The investigation concluded that N5 million of the stolen funds had already been spent on questionable transactions. However, the authorities successfully recovered the remaining N50 million from Onyeabuchi Okafor. Both suspects, Onyeabuchi Okafor and Jasmine Okekeagwu, now face charges of conspiracy and stealing. As the legal proceedings unfold, the case has been forwarded to the Office of the Director of Public Prosecutions for further evaluation. The Chief Magistrates Court 1, Yaba, has granted the defendants bail in the sum of N15 million each, with two sureties in like sum. The case is set to resume on March 11, 2024, shedding light on a disturbing episode that underscores the vulnerability of public figures' financial dealings. Read the full article

[ejesgistnews]

Abducted Medical Student Appeals for Help, Demands Ransom for Release.   A distressing message has emerged from one of the 20 medical and dental students abducted in Benue State, revealing the captors' demand for a ransom of N50 million.   Kwaghaondo Aondona Kingsley, a 20-year-old medical student, shared the urgent plea via social media, detailing the dire conditions faced by the group. According to Kingsley, the students have been without food for two days.   Also Read : Full List of 20 Nigerian Medical and Dental Students Kidnapped in Benue Emerges   In a tweet sent from the captors' location, Kingsley said, “We were kidnapped on our way to Enugu for a convention. They are asking for 50 million naira for the release of the 20 of us. Please help; we haven’t eaten for two days. Contact Pius at 08163420157—he is managing the funds,” Kingsley wrote.   The abductors have reportedly threatened to begin executing the students if their ransom demands are not met by tomorrow. “They said they would start killing us tomorrow,” Kingsley warned in the tweet.   The students, affiliated with the University of Maiduguri and University of Jos, were en route to a convention when they were ambushed by armed assailants around 5:30 pm in the Otukpo area of Benue State.

[newsbreak365blogs]

A 38-year-old single Nigerian businesswoman has offered money to any submissive man ready to marry her. The young woman, identified as Ella Ada took to social media to make her beg for love. According to her, she is the owner of a large poultry farm . A video posted by TikTok user @signedollar shows the […]