In a recent statement, NIPOST said small and medium enterprises will pay N250,000 as licence fees before their dispatch riders will be allowed to operate. For small- … Meanwhile, … Please don’t let it happen. YOU MAY ALSO LIKE. Wia dis foto come from, Twitter/ Barr Bisi Adegbuyi. Mr Akpan revealed that OPay currently processes about 80% of bank transfers among mobile money operators in Nigeria and 20% of non-merchant point of sales transactions. Companies wey dey offer services within di kontri go pay N10m for licence and N4m yearly for renewal. The world’s second-largest economy, China, has recently launched an antitrust investigation into Asia’s leading e-commerce company, Alibaba, listed on the biggest stock market in the world. DESTINATION: 0.5kg: 1.0kg: 1.5kg: 2.0kg: 2.5kg: 3.0kg: 3.5kg: 4.0kg: 4.5kg: 5.0kg: ADD 1/2kg(N) NATIONAL - WIDE INTER-REGION 2640 2880 NIPOST earlier said that the new regulation aims to improve Nigeria’s logistic and courier structure with better efficiency following President’s Buhari new ease of doing business policies. OPay has disclosed plans to expand its services to North Africa by the first quarter of 2021. July 25, 2020. in News. The group owns China’s largest digital payment platform, Alipay, which serves over one billion users and 80 million merchants, with total payment volume (TPV) transactions reaching RMB118 trillion in June 2020. One thought on “ Minister orders NIPOST to suspend increase in license fees for logistics services ” Dr Pat Kolawole Awosan July 26, 2020 at 3:48 am. Your email address will not be published. SEE ALSO: Doctors’ Strike: COVID-19 Patients Not Affected in Bayelsa. The new charges introduced by NIPOST are expected to cause an increase in the cost of courier services and delivery of goods. The recent outrageous “licencing” fees issued by the comatose NIPOST is simply unfathomable in logic and commonsense. Within a space of one week, two harsh policies have been proposed. This was announced in a statement issued by the Minister via his Twitter handle after social media outrage at NIPOST over the increased fees. Regional, state and municipal services are to pay ₦5 million, ₦2 million, and ₦1 million license fees respectively, and ₦2 million, ₦800,000 and ₦400,000 for renewals. Licence fees for international courier companies (example, DHL) were doubled … The new charges introduced by NIPOST are expected to cause an increase in the cost of courier services and delivery goods. Your Chair and PMG were YESTERDAY contacted to put the implementation on hold and send a report to our ministry by Monday. November 26, 2020. He made it clear that … This growth created pre-requisite financial buffers needed to expand the firm’s operation. Licence fees for international courier companies (example, DHL) were doubled from N10m to N20m with renewal fee increased by 40 per cent. The probe is part of a sudden and quick crackdown on monopolistic behaviour suspected to be in China’s booming internet ecosystem, and the latest setback for Jack Ma, the 56-year-old former school teacher, who founded Alibaba and became China’s richest man in the modern era. 5 months ago. He add am say, "Na part of di strategies to ensure effective service delivery as consumers go fit sabi di capacities of di operators wey dem dey deal wit. The Federal Government has stopped the Nigerian Postal Services, NIPOST, from implementing its new increase in obtaining licence fees and renewal. RMAFC, NIPOST set to probe banks over stamp duty, Finance Act dwindling NIPOST revenue as Post Master General plead for review, NIRSAL Microfinance Bank to take off, targets 400,000 SMEs, Paypal drops out of partnership with Facebook’s Libra, OmiseGO, fastest growing altcoin, up 49% in past 24 hours, Square buys $50 million worth of Bitcoins, Citigroup reacts to Citron’s fraud allegations against Jumia, as shares price drops 50%, Global companies are buying Bitcoins to hedge against inflation, Donald Trump bans American investments in companies linked to Chinese military. However, looking at the economic hardship of our citizens, we need to suspend any move,” he added. Each operator, irrespective of the category, will pay 40% of the license fee as a renewal fee annually. Thousands of young people have created their own jobs and are trying to just survive. Best wishes! "Di new regulations no be to frustrate ease of doing business but to promote di growth of MSMEs. Transcorp Doles Out N26.25 Billion As Part Payment For Afam Power NIPOST: FG Rejects New License Fee, Issues Fresh Warning. READ: OmiseGO, fastest growing altcoin, up 49% in past 24 hours. READ: Donald Trump bans American investments in companies linked to Chinese military. On July 23, 2020, NIPOST set new guidelines for courier and logistics companies which are clearly meant to cripple the private sector operators and restore NIPOST’s unearned relevance. Isa Pantanmi, the Minister of Communication and Digital Economy, stated this in a tweet on Saturday morning. Alibaba shares dropped about 8% in value, trading at a 6 month low in Hong Kong amid a proposed stock repurchase program of between $4 billion to $10 billion, that had a duration of two years. At the time Ant’s group IPO got suspended, Alibaba, which has a majority stake of about 33% in Ant Group, saw its shares fall. The Minister of Communication and Digital Economy, Dr. Isa Ali-Pantami, has called on the Nigeria Postal Service, NIPOST, to suspend implementation of its new license fees for the courier service companies. By Kazeem Ugbodaga. Recall some days ago the e-Commerce juggernaut got into hot waters over its affiliate company, Ant Group, as Chinese antitrust regulators plan to review if it was in anyway monopolistic. The Minister of Communications and Digital Economy, Dr Isa Pantami has ordered the Nigerian Postal Services, NIPOST, to suspend the new tariff on registration of … Pls @NipostNgn, our attention has been drawn to an increase of licence fee, which was not part of the regulation I earlier APPROVED for you. Reactions As Pretty Mike Bathes With Ladies In Bathroom (Video) November 26, 2020 “It’s Been One Crazy Year “– Don Jazzy Says as He Celebrates 38th Birthday. on. Such a move by the Chinese regulators is seen by some market commentators as a huge hit to Jack Ma’s e-Commerce and fintech empire. Nipost bin propose make … The Nigeria Postal Service (NIPOST) has announced a new regulation through which it has introduced License fees for logistics and courier services . I know the economic challenges of NIPOST. Pipo wey also dey into logistics fit suffer di down effect of losing dia jobs if pipo no too dey order for goods and services. by AnaedoOnline. OPay launched its mobile payment service in August 2018. Saturday, July 25, 2020 3:11 pm | Business | 1 Comment(s) Isa Patami. This is coming at a period when the government should be looking at making life easier for people. Regional and national courier companies would be required to pay N5 million and N10 million respectively. — Isa Ali Pantami, PhD (@DrIsaPantami) July 25, 2020, 2) @NipostNgn, d power of regulation of NIPOST lies with the Minister. READ: Square buys $50 million worth of Bitcoins, In a strongly worded editorial, the ruling Communist Party’s People’s Daily revealed if “monopoly is tolerated, and companies are allowed to expand in a disorderly and barbarian manner, the industry won’t develop in a healthy, and sustainable way.”. Any change of fee must be specific & be approved by him before implementation. OPay, a Nigerian fintech start-up, founded by Opera, has disclosed its intention to expand its payment service operations to North Africa by the first quarter of 2021 (Q1 2021). Plenti pipo don enta social media to condemn di new regulations. According to NIPOST, companies wey dey provide international courier services like DHL, UPS and FEDEX, go pay N20m for new licence and N8m … Alibaba shares dropped about 8% in value, trading at a 6-month low in Hong Kong amid a proposed stock repurchase program of between $4 billion to $10 billion. Wow! Share. Ant said it had received a notice from regulators and would “comply with all regulatory requirements.”, READ: Global companies are buying Bitcoins to hedge against inflation. This will kill thousands of #MSMEs. By Adejayan Gbenga On Jul 25, 2020. I know the economic challenges of NIPOST. July 29, 2020. De external site no concern BBC. NIPOST recently announced a review of the licence fees to be paid by courier companies saying the ministry of communications and digital economy, its supervisory ministry, approved the new guidelines. However, looking at the economic hardship of our citizens, we need to suspend any move. Published. He tok say di Ministry of Communications and Digital Economy give di new regulations wetin dem call "serious considerations before dem conclude on those charges and di need to categorize di operating license.". International operators are to pay ₦20 million as a license fee, national ₦10 million and regional operators ₦5 million. Nairametrics learnt that earlier plans by OPay to expand to South-Africa and Kenya were halted due to disruptions caused by the coronavirus. READ ALSO: FIRS clarifies NIPOST’s stamp duty claims. 0. Your Chair and PMG were YESTERDAY contacted to put the implementation on hold and send a report to our ministry by Monday. According to the petition, “NIPOST are implementing a senseless fee for grant of Courier and Logistic License which is poised at putting hardworking Nigerians out … READ MORE: NIRSAL Microfinance Bank to take off, targets 400,000 SMEs. Customer Service Centre: +234 08079037402, +234 08115638660, customerservice@nipost.gov.ng The Federal Government has asked the Nigeria Postal Service (NIPOST) to suspend its recent hike in licensing fees for operators of courier services in the country. It lost more than 5% in U.S. premarket trading. 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