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Fuel Stations To Charge N50 On Point of sales transactions From Dec 1

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced that beginning from December 1, 2019, a fee of N50 will be charged on all Point of Sale (PoS) transactions from N1,000 at petrol stations.

 IPMAN, which members own 19,000 out of the 25,000 registered filling stations said this in an advertorial published on Monday, saying it was based on a directive of “the Central Bank of Nigeria (CBN) dated 17th September, 2019, to all commercial banks that charges of taxes and duties be imposed on all electronic transactions.

“In view of the foregoing, the general public should please note that this additional charge shall be deducted at source by the commercial banks in compliance with the directive above.

Therefore, IPMAN is in no way beneficiary to it,” IPMAN noted. 

However, President of IPMAN, Chinedu Okoronkwo told Daily Trust that he did not sign the notice and was unaware of it.
 “It is not true. (The public notice has) no address and was not signed,” and added that the notice could be the work of fraudsters and did not emanate from IPMAN. 

Daily Trust reports that CBN in September, 2019 directed banks to charge N50 Stamp Duty on individual transactions that occur on PoS.

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