Archive for February, 2016

Health tips for the day

  1. The recommendation for salt in your diet is to have less than 2,400 mg of sodium a day which is equal to about one teaspoon to prevent hypertension.
  2. Immunizations work better if given at the right ages or as close to those ages as possible.
  3. The best at-home treatment for mild acne is gentle cleansing and skin care. Never pick or squeeze pimples.
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Naira falls to N345/$ in parallel market

The naira, yesterday, suffered its biggest daily depreciation against the dollar as it exchanged for N345 to a dollar in the parallel market. This represents N20 depreciation when compared with the closing exchange rate of N325 per dollar in the market on Friday. But the naira was relatively stable at the official interbank foreign exchange market as the interbank rate stood at N197.47 per dollar at the close of business, yesterday.

The naira also depreciated by N45 against the British pound as the parallel market exchange rate rose to N485 per pound, yesterday, from N340 on Friday. Bureau de Change sources, who confirmed the development to Vanguard, attributed the sharp depreciation to persistent scarcity of the dollar and pound sterling in the market.

According to an Abuja-based BDC operator, who spoke on condition of anonymity, “the market is experiencing huge demand for dollars but there is no supply. Even those who have dollars are not willing to sell. The way things are going, the rate might reach N350 per dollar before it stabilises.”

Culled from Vanguard

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Health tips for the day

  1. When a person has high blood pressure, he or she will experience dull vision and if not managed properly may lead to severe loss of vision.
  2. As a woman’s uterus grows in pregnancy, it begins to press on the bladder, causing her to urinate more frequently.
  3. Every child needs series of immunizations during the first year of life for protection against diseases that can cause poor growth, disability or death.
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CBN clarifies N50 stamp duty on bank transactions

The Central Bank of Nigeria recently explained some misconceptions among members of the public on the implementation of stamp duty on bank transactions.

The Director, Corporate Communications, CBN, Mr. Ibrahim Mu’azu said the guidelines simply advised banks and other financial institutions operating in the country to commence the collection of N50 on eligible transactions only, which include all receipts given by a bank or financial institutions in acknowledgement of services rendered in respect of teller deposits and electronic transfers for the value of N1, 000 and above.

The N50 stamp duty is charged per transaction and not per volume. Hence, irrespective of the amount, the sum of N50 is to be charged provided such a transaction is N1,000 and above.

He also said that there are, however, some exemptions including payment of salaries and wages, payments and deposits or self to self whether inter or intra bank.


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