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Recession: Government should consider Taxing every call above 3 minutes – Godwin Emefiele

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Governor of CBN - Godwin Emefiele

Governor of CBN – Godwin Emefiele

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has said that in order to raise additional revenue and get Nigeria’s economy back on track, the government should consider taxing every call above three minutes.

According to TheCable, he made this known at the Annual Bankers’ Dinner in Lagos. Emefiele said:

There are several ways we can raise additional revenue to finance the increased expenditure that is needed to engender fast and sustainable growth in the economy.

I think we can consider introducing a negligible telecom surcharge to be entirely borne by the initiator of a call. In order to protect the poor and vulnerable amongst us, we could structure it to only take effect after the third minute of talk.

Some analyses have indicated that the government could earn about N100 billion per annum from this alone. Obviously this surcharge will mainly be borne by middle and upper class people since I do not know many poor people who make calls for more than 3 minutes.

He also suggested property taxes. He said the government should “consider introducing minimal property taxes across the country. This not only raises money for the government but also could be a veritable weapon against corruption since it creates a database of who really owns homes in this country”.

“Another option to consider would be to fully implement the 2003 Cabotage Act. This is Act stipulates that all cargoes and passengers in the inland and coastal waters be transported by ships and ferries built, owned, crewed and manned by Nigerians.

Contrary to the requirement of this Act, there are several foreign-owned vessels providing shipping services locally. Out of about 600 ships that operate within our waters, only about 60 of them are owned by Nigerians and are mostly idle, in violation of the Act.

Industry sources suggest Nigeria may be losing as much as N2 trillion annually from this anomaly. In addition to raising revenue, a full implementation of the Act could also spur job creation, capacity building, and significant backward integration,” Emefiele said.

52 Comments

  1. Babycakes

    November 19, 2016 at 6:37 pm

    What sort of nonsense is he spewing?

    • Implement for real, already!

      November 19, 2016 at 10:08 pm

      On the Cabotage Act, he is right on point, and only saying what all Niegrians especially those in the industries affected have been saying for years but the FG has never truly implemented the Act which indeed would have brought a whole lot of revenue and would have taken a whole lot of Nigerians out of unemployment and poverty.

    • tunmi

      November 20, 2016 at 1:11 am

      2 of the 3 things he said are actually good. Fully implement the Cabotage Act and introduce property taxes.

    • Mujer

      November 19, 2016 at 10:26 pm

      Godwin, stop screwing with poor people. Maybe you should tax people with high call volumes because those are your Dangotes. What are you trying to do? Prevent children selling oranges from telling their parents they are being robbed? Well, you would not know about that because you sit in Aso Rock in your economic bubble. Just turn off the lights, go to sleep and wake up in 3 years.

    • FasholasLover

      November 20, 2016 at 1:38 am

      Emefiele has lost touch with reality just like his principal. This is what happens when they “call you to come and chop” and you forget that you were only invited thus making you a guest in govt/power. Emefiele has chopped belle stupid him forget himsef.

      We know who Emefiele was before he became CBN gov’. Plus, how money started pouring in from rent seekers and how he is cleaning out with all the crooks now in govt/power. Continu. Every day for tif…..

    • Wale

      November 20, 2016 at 11:32 am

      Why is our central bank ćhief so involved in “daily” economic matters? It never used to be like this, we never even used to know they existed and only saw their signatures on our currency. In most, countries, you rarely hear from them and only when monetary policies are announced. This is supposed to be a very conservative role. Now, this one is almost acting like he is minister of finance, he loves attention and publicity sote they even kidnapped his wife- we have a minister of finance, but she is incompetent and only got the job because of amosun’s close ties to buhari. Now, BBC is talking about major famine and food shortages anticipated for 2017 in Nigeria that the government is ashamed to admit to. In the voice of Beavis and Butt-head, that country is fcukinly messed up!

    • Wale

      November 20, 2016 at 11:47 am

      Why doesn’t he start by giving up 9 of the 10 cars CBN gave him as the head of the bank? They should reduce the waste in government first if they are looking for money to run government. The MAN has 10 cars allocated to him by CBN and All his debuties have similar amounts. This is unheard of In Any country. Then the senate should be eliminated-they just took delivery of 100 plus imported vehicles and the fuck face called Saraki is preaching made in Nigeria. They whole lot should be fired and the country taken back. Better still they should all be lined up and shot. They are of no use to Nigerians but rather enablers of the sufferings. We need to take back the country.

  2. Concerned Taxpayer

    November 19, 2016 at 7:06 pm

    The personal income taxes we have been paying since, what have you done with it? The cost of everything has skyrocketed, but our employers are slashing salaries and allowances. We still find way to survive. Now to call our friends, loved ones and business associates, we have to pay extra once we exceed 3mins.

    Dear Uncle Godwin, it’s like the CBN you govern is in another Nigeria, not this one, cuz you seem to be totally oblivious of what the average Nigerian is passing through in this recession. This is like flogging a dead horse, kuku kill the masses already.

  3. Thatgidigirl

    November 19, 2016 at 7:08 pm

    Someone opened this man’s skull up, took out his brain and took a dump in the skull….can only be the explanation for the amount of bullshit coming out of his mouth lately

  4. vikai

    November 19, 2016 at 7:13 pm

    From the moment this man took over the CBN and gave the go ahead for the introduction of ATM charges, I knew he was a misfit. Sanusi brought in potent enduring changes to the Nigerian financial landscape and deliberately held back from ATM charges. He even set up an organisation parallel to Interswitch, all in an effort to prevent a monopoly. What has this one done for the country now? Imagine this ineffectual as the president of the country. He will instigage every hardship his warped mind can concoct.

  5. Eii

    November 19, 2016 at 7:14 pm

    The price of airtime per minute is built with telecoms owners cost and value added taxes. Any other tax is unnecessary and very unfair!!

  6. Luqman

    November 19, 2016 at 7:14 pm

    The struggle is real. It’s so glaring that these people do not know what to do to improve the economy. Nigerian Government should amend the constitution to dissolve the lower house and reduce the number of senatorial seats to two and also slash their salaries, so as to save money in this recession. It’s not the masses that have to pay for the corruptions that have been retrogressing the nation for a very long time. It is going to 2 yrs now and it’s as if we don’t have ministers in this dispensation.
    Charity begins at home, Nigerian government

    • nene

      November 19, 2016 at 7:24 pm

      don’t mind the useless people. i’m wondering why niger delta militants or boko haram has not bombed that senate house. all they know how to do is to kill innocent citizens. there was a nollywood movie called “state of emergency”, i wish the events in that movie could happen in real life.

    • A Real Nigerian

      November 19, 2016 at 7:48 pm

      LOOOL

  7. Aminu

    November 19, 2016 at 7:15 pm

    As if the harsahip we are currently experiencing is not enough.

  8. justice nathaniel

    November 19, 2016 at 7:17 pm

    Imagine the nonsense that this grown man is spitting out of his gutter mouth.

  9. Anonymous

    November 19, 2016 at 7:17 pm

    Stupid people and stupid government.

  10. nene

    November 19, 2016 at 7:23 pm

    look at these people. when nigerians get upset they won’t have the mouth to talk. tax who? for what?

  11. Nellyv

    November 19, 2016 at 7:25 pm

    Imagine d rubbish. This empty skull of a CBN governor, what a dumb ass u are. Must you always say it to our face that u are so damn freaking incompetent for that position you are occupying. Why dont u consider telling d government to reduce ur salary and that of other government officials instead of taxing d poor masses from a mere phone call. Every month u receive a whooping sum for nothing because u are doing nothing for ds country, and all u could think out from dt ur skull is how to add to d sufferings of already suffering masses. E no go better for u

  12. Muse

    November 19, 2016 at 7:31 pm

    Why is Emefiele just famous for extremely silly ideas? Tax on recharge cards, tax on voice calls? Of all ideas he has to raise money, the most brilliant one is to tax voice calls? This people should tax the air we breathe, so we’ll know we are dead.

    Annoying set of humans.

  13. GANNY OGUNSHAKIN

    November 19, 2016 at 7:31 pm

    This guy is surely a certified lunatic. His ideas are out of this world. With moron like this at the helms of affairs at the Central Bank of Nigeria. The Country is in a bigger trouble than I ever imagined. everybody makes a call. Rich or poor. So Mr emefiele such taxation is unfair to anyone. Rich or poor. Nigeria needs to look for better alternatives to generate revenue. Following his idea will affect the bottom lines of all telecommunications companies in Nigeria. Which may result in mass layoffs of Nigerians by those Companies consequential effect of which may further worsen Nigeria’s economic woes. A Word is enough for the wise. I ‘ m just saying.

  14. Bella

    November 19, 2016 at 7:34 pm

    Government should consider SACKING you. Specialist in failure

  15. OMG

    November 19, 2016 at 7:37 pm

    I swear these people are so clueless. Wow!! Which way, Nigeria? APC is rubbish, PDP is rubbish. What do we do???

    • Wale

      November 20, 2016 at 11:37 am

      Form a new party – that is a way forward. We need to take back the country.

  16. john

    November 19, 2016 at 7:46 pm

    the worst CBN governor in history. .in a civilised world,this guy would have resigned a long time ago

  17. o

    November 19, 2016 at 7:55 pm

    It’s now so obvious this guy is clueless!!!

  18. Marian

    November 19, 2016 at 8:20 pm

    If it was a postpaid system yes but with a prepaid system??? Nah!
    What have they done with the one they are taking from bank transactions?? Transfered less than 50k to two different people on the same day and was charged 105 naira on each transaction. Multiply that by all the online transactions that takes place and in a year and that’s a whole lotta money.

  19. Huh?

    November 19, 2016 at 8:31 pm

    An Igbo man in politics and this is what you get. I remember when igbos were screaming for appointment, they take sanusi out and bring this clown and voila! Madness from the first minute he stepped his foot in that office.
    I know it’s bad to wish people death but that is the only thing that will take some of these politicians out of office.

    • olleny

      November 21, 2016 at 10:22 am

      You better close your mouth there. Wasn’t Soludo an Igbo made.

  20. Josephine

    November 19, 2016 at 8:35 pm

    I’m actually speechless

  21. Beard gang

    November 19, 2016 at 8:50 pm

    all this man talks about is raising revenue, how about implementing? after all the bank charges!!
    this is a ridiculous tax reform! after phone calls what next? text messages or data usage? oga you are much smarter than this.. govermental austerity is what this country needs… i see so many inflated (over-priced) contracts, lawmakers riding in luxury SUVs, state governors having absolute authority over ‘security votes’ (whatever that means), governors handing state earned forex to footballers among other outrageous and redundant govermental expenses yet you say this?! your administration keeps complaining about excessive looting of the previous administration, you know who they are go after them with everything you got and recover. you emefiele made foolish moves with our reserves (dasuki saga) why didn’t you advise the president against it? oga just resign abeg

  22. Head Master

    November 19, 2016 at 8:52 pm

    Godwin, son of Emefiele! Kneel down, hands-up and close your eyes.

    • tunmi

      November 20, 2016 at 1:12 am

      Lmaoo

  23. RichyGame

    November 19, 2016 at 8:59 pm

    I think this man is detached from reality on ground…

  24. beauty

    November 19, 2016 at 9:01 pm

    The masses are already suffering and Emefiele is advising the government to tax calls??? Exchange rates are ridiculous, prices of everyday essentials are spiraling and standard of living is rising at an alarming rate and all he can say is ” government should tax calls that are above 3 mins”

    • Cindy

      November 20, 2016 at 8:13 am

      I wonder why Nigerians find it difficult to differentiate “standard of living” from “cost of living”. My dear, standard of living is falling at an alarming rate. The number of things you could afford with your income one year ago has reduced drastically. However, cost of living is increasing rapidly. Cheers.

  25. nwaoma

    November 19, 2016 at 9:27 pm

    U guys have said it all but pls, cN they tax only his family members, the suffering around me I weep for my fellow Nigerians, Governor of no mentality

  26. Dee

    November 19, 2016 at 9:28 pm

    http://www.emefielemustgo.com ..check this out for clues on CBN corruption..

  27. def

    November 19, 2016 at 9:42 pm

    Ehn,
    1) He isn’t the finance minister mbok. He was just talking in a fora. U know d way we gather at our offices and give our summation of the way forward. LOL.
    2) However since he is ” management” his argument matters.
    3) in this forum(bellanaija) were I have mouth I can say let’s go and task a foreigner than us. Manufacture, mine, refine and export some of the suntins we have. If an analyst plays with d figures you will see that it will be bigger than 100billion.

  28. arin

    November 19, 2016 at 10:17 pm

    I am usually very careful with my words but today…you people are mad people very mad,you put us in this situation and until you draw blood out of us you all wont be satisfied. I dont care if it makes sense or not. Nonsense!!???

  29. arin

    November 19, 2016 at 10:20 pm

    Dumb ass idea…ohhhhhh!!! I am so upset!!

  30. mr.berg

    November 19, 2016 at 10:28 pm

    ….Nonsense,,If u don’t av anytin reasonable to say y nt shut ur mouth up…#Bloodyfool

  31. P!e

    November 19, 2016 at 10:33 pm

    Emefiele! You’ve got to start living and speaking like your name suggests.

  32. Anon

    November 19, 2016 at 10:43 pm

    Mr Emefiele please hand in your resignation first thing on Monday morning. It haff do! With your dearth of ideas, you will only increase the hardship people are facing in this recession.

    • Iyayayo

      November 20, 2016 at 5:39 am

      The man is very bereft of good ideas, pshew. Tax calls? You do realise taxes are already built into the recharge cards we buy, won’t it amount to double taxation?
      Working in the shipping industry, I can tell you that the prohibitive cost of capital is what keeps a lot of Nigerian companies away from taking advantage of the cabotage and local content acts. We do not build vessels in Nigeria, we import them and pay in dollars. How many honest Nigerians can make a lump sum payment on a vessel of any kind? So we opt for bareboat charters and leases so we can pay for the vessel over time. In my company, we leased some vessels when dollar was 120 to complete payment of over 8years. Guess what dollar is now 460, hire rates have fallen and the shipbuilders are demanding payment. Please Emefiele bring dollar back to 120 thank you.

    • Josephine

      November 20, 2016 at 6:58 am

      @ Anon he will never resign. We don’t have that culture here and also can’t see when we are not up the job. We listen to hangers-on who need you stay put so they can chop. He also can’t be sacked just like that by Buhari. Its the Senate that can remove him and while we are still so tribalist and backward no Senator from his South-South zone will allow their colleagues to do it. They will raid CBN coffers to buy Senators’ votes to keep him there regardless of what the people think.

  33. Ada

    November 20, 2016 at 2:04 am

    Derailed man. What kind of country are we living in? Where people at the helm of affair derive pleasure from punishing the masses. Nigeria need to wake up. Which kin suffer head be this one? People have lost their jobs, home and income now this mad man do come again. They sit in their high horse enjoying the nation’s wealth while the masses suffer. Why can’t theY cut their salary in half and increase their tax. Abi recession no reach that level? A special place in hell await these fellas. Good riddance to bad rubbish.

  34. #MadeInNaija

    November 20, 2016 at 12:53 pm

    Bia, Dede Godwin, even we contribute all salaries as Tax, the money will be “”wacked” by the powers that be. Nobody gives account on how our tax money is spent. Regarding Cabotage, we do not have capacity (vessel & qualified personnel), if we ban foreign vessels, there will be huge gap that will affect supply chain.. How many Nigerian vessels owners have been able to access the Cabotage fund from NIMASA to up their game? Was it not the same money that was “”wacked” by its leadership? I am not an Economist but I advocate a reduction of VAT from 5% to 2% until we are out of recession. Nigerians need palliative measures. Daalu.

  35. treasure

    November 20, 2016 at 2:47 pm

    Hmmm. If the govt wants more money, they should cut their salaries into half, turn their so-called govt land into public farm lands,that pple can farm n export so the economy can grow!…. Bad adviser @Eme wat?

  36. Onye

    November 20, 2016 at 3:42 pm

    1) He does not know any poor person.
    2) If Nigerians are unable to invest in their ships and offer competitive services then you cant blame those that are capable of doing so because they are foreigners.
    3) This man does not understand economics.

  37. Rampage

    November 20, 2016 at 3:43 pm

    Haba! Naja which way na!?

  38. Moyo

    November 21, 2016 at 8:44 am

    Is it that this man does not know his job description or has he taken over the job of the Finance Minster and the chairman of FIRS

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