nipost license fee

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 … Customer Service Centre: +234 08079037402, +234 08115638660, customerservice@nipost.gov.ng NIPOST said in a statement that the fee was introduced as a part of new regulations aimed at upping ease of doing business, ‘rejigging’ the logistics and courier sector of the economy and improving the efficiency of the players in that sector. […] It lost more than 5% in U.S. premarket trading. Nairametrics learnt that earlier plans by OPay to expand to South-Africa and Kenya were halted due to disruptions caused by the coronavirus. 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: 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.”. The Vice President, Yemi Osinbajo on Saturday reacted to concerns raised by Nigerians over the increment of courier and logistics license fees by the Nigerian Postal Services, NIPOST. The Federal Government has rejected the increment of license fee proposed by the Nigerian Postal Service (NIPOST) for courier services. NEWS DIGEST – The Federal Government has rejected the proposed increment of license fee for courier services by the Nigerian Postal Service, NIPOST. 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. According to NIPOST, companies wey dey provide international courier services like DHL, UPS and FEDEX, go pay N20m for new licence and N8m … READ: Citigroup reacts to Citron’s fraud allegations against Jumia, as shares price drops 50%. The new charges introduced by NIPOST are expected to cause an increase in the cost of courier services and delivery of goods. By. Each operator, irrespective of the category, will pay 40% of the license fee as a renewal fee annually. Di Nigerian Postal Service say di new regulations wey dem put in place na to protect genuine courier and logistics operators and send out pipo wey no dey registered. 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. In addition, Nairametrics gathered that the COVID-19 pandemic has yielded positive impact on the firm, leading to a massive increase in the volume of monthly settlements carried out on the platform, from $363 million in January to $1.4 billion as at November 2020. I know the economic challenges of NIPOST. 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All license renewal is pegged at 40% of license fees per zone. FG suspends increase in NIPOST license fees. According to Bloomberg sources, the decision is sequel to the success recorded by the firm in Africa’s most populous country, Nigeria. READ: Paypal drops out of partnership with Facebook’s Libra. The NIPOST had recently announced hike in … READ MORE: NIRSAL Microfinance Bank to take off, targets 400,000 SMEs. The Minister responded to NIPOST’s social media handles that “our attention has been drawn to an increase of license fee, which was not part of the regulation I earlier APPROVED for you. SEE ALSO: Doctors’ Strike: COVID-19 Patients Not Affected in Bayelsa. NIPOST tok-tok pesin Franklin Alao, inside statement wey dem release to di NPO Reports late Friday night say genuine business owners wey sabi wetin di logistics business be, no go dey part of di pipo wey dey protest against di new regulations. The minister of communication and digital economy, Isa Pantami, in a tweet Saturday morning, insisted that the increase was not part of the regulation he approved for the … This growth created pre-requisite financial buffers needed to expand the firm’s operation. 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. 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. This site uses Akismet to reduce spam. Licence fees for international courier companies (example, DHL) were doubled from N10m to N20m with renewal fee increased by 40 per cent. In a report credited to Reuters, the e-Commerce juggernaut seems to be in hot water over its affiliate company, better known as Ant Group, as Chinese antitrust regulators plan to review if it was in anyway monopolistic. This is coming at a period when the government should be looking at making life easier for people. 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. The probe is part of a sudden and quick crackdown on monopolistic behavior 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. Wow! The Nigerian Postal Service (NIPOST) recently announced new fees for courier and logistic business operators in Nigeria, provoking anger amongst Nigerians on social media. 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. 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. Please don’t let it happen. 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. International operators are to pay ₦20 million as a license fee, national ₦10 million, and regional operators ₦5 million. READ: OmiseGO, fastest growing altcoin, up 49% in past 24 hours. 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. However, looking at the economic hardship of our citizens, we need to suspend any move. 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. I know the economic challenges of NIPOST. 5 months ago. Published. Nigeria’s Minister of Communications & Digital Economy Dr Isa Ali, , said on Saturday that he did not approve the new NIPOST increase of license, The Minister responded to NIPOST’s social media handles that, NIPOST earlier said that the new regulation. Isa Pantanmi, the Minister of Communication and Digital Economy, stated this in a tweet on Saturday morning. Dem tok say e dey too hash and e fit drive small businesses comot from market. READ: Donald Trump bans American investments in companies linked to Chinese military. Meanwhile, … July 25, 2020. in News. 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. Consumers go dey forced to pay more for goods and services sake of delivery cost. YOU MAY ALSO LIKE. By Kazeem Ugbodaga. FG suspends increase in NIPOST license fees July 25, 2020 editor 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. — Isa Ali Pantami, PhD (@DrIsaPantami) July 25, 2020, 2) @NipostNgn, d power of regulation of NIPOST lies with the Minister. The eCommerce juggernaut seems to be in hot water over its affiliate company, better known as Ant Group. 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. 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. 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 courier services in the country. Recall that Pantami had rejected the increment of license fee proposed by NIPOST. 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. The Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim … The new charges introduced by NIPOST are expected to cause an increase in the cost of courier services and delivery goods. 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.". OPay has disclosed plans to expand its services to North Africa by the first quarter of 2021. Companies wey dey offer services within di kontri go pay N10m for licence and N4m yearly for renewal. 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. International operators are to pay ₦20 million as a license fee, national ₦10 million and regional operators ₦5 million. Your Chair and PMG were YESTERDAY contacted to put the implementation on hold and send a report to our ministry by Monday. FG orders NIPOST to suspend new license fee for courier services. 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. Di Federal Government don reject di proposed increment of license fee for courier services by di Nigerian Postal Service, NIPOST. READ ALSO: FIRS clarifies NIPOST’s stamp duty claims. Transcorp Doles Out N26.25 Billion As Part Payment For Afam Power Small and Medium Enterprises would be receiving a licence for N250,000 while the annual renewal of the licence is N100,000. Licence fees for international courier companies (example, DHL) were doubled from N10m to N20m with renewal fee … Each operator, irrespective of the category, will pay 40% of the license fee as a renewal fee annually. NIPOST had announced an increment This was disclosed by Isa Pantami, the minister of communication and digital economy, on Saturday, July 25. Courier firms running within cities are to pay N1m for licence and N400,000 annually. Why NIPOST increase License fee? Pantani had explained that the increase was not part of the regulation … The Federal Government has stopped the Nigerian Postal Services, NIPOST, from implementing its new increase in obtaining licence fees and renewal. This will kill thousands of #MSMEs. FG stops NIPOST from increasing courier licence fees . The news of the new fee structures caused an uproar as Nigerians accused the regulator of cutting off competition from smaller operators during a coronavirus pandemic that has heavily affected Africa’s largest economy. Also, Chinese Financial regulators plan to meet with Alibaba’s Ant Group fintech affiliate in the coming days, according to a separate statement by the People’s Bank of China, released today. De way wey we de take go external link. Ant Group, formerly known as Ant Financial and Alipay, is an affiliate company of the popularly known e-commerce company, Alibaba. De external site no concern BBC. First it was, 6% stamp duty on rents, now an outrageous NIPOST licence fee for logistics companies. Plenti pipo don enta social media to condemn di new regulations. 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. E go create a sense of sanity, consumer-service provider trust, Alao tok am for di NPO Reports. Nigeria’s Minister of Communications & Digital Economy Dr Isa Ali Pantami, said on Saturday that he did not approve the new NIPOST increase of license fees. Licence fees for international courier companies (example, DHL) were doubled … And e dey likely say di way pipo dey order for goods and services fit reduce if di cost too dey high. Im add say dem tell NIPOST chairman and Post Master General "on (Friday) to put di implementation on hold and send report to dia ministry by Monday.". Counting on you sir. Your email address will not be published. He made it clear that … 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. NIPOST had come up with outrageous new increase in obtaining licence for courier services … “ The power of regulation of NIPOST lies with the Minister. 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). Earlier this week, NIPOST approved new license fees for people in the courier business, increasing the new license fees for Municipal operators to N1 million, and renewals fees a year up to 40% of new license fees at N400,000.00 a year. State, municipal and special SME … Each operator, irrespective of the category, will pay 40% of the license fee as a renewal fee annually. 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. Your Chair and PMG were YESTERDAY contacted to put the implementation on hold and send a report to our ministry by Monday. Earlier this week, NIPOST approved new license fees for people in the courier business, increasing the new license fees for Municipal operators to N1 million, and renewals fees a year up to 40% of new license fees at N400,000.00 a year. 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. NIPOST said in a statement that the fee was introduced as a part of new regulations aimed at upping ease of doing business, ‘rejigging’ the logistics and courier sector of the economy and improving the efficiency of the players in that sector. 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 Nigeria Postal Service (NIPOST) has announced a new regulation through which it has introduced License fees for logistics and courier services . Regional and national courier companies would be required to pay N5 million and N10 million respectively. 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. 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. NIPOST: FG Rejects New License Fee, Issues Fresh Warning. 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. This has sparked outrage from a large section of Nigerians mainly online. READ MORE:  Finance Act dwindling NIPOST revenue as Post Master General plead for review, Dear @femigbaja, please block this needless policy by Nipost that will cripple thousands of small businesses. 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. Within a space of one week, two harsh policies have been proposed. Nigerians still dey react to di increase of license fee for courier services wey di Nigerian Postal Service (NIPOST) bin propose. Ant Group remains the world’s most valuable Fintech company, and most valuable unicorn company, with a target valuation of over US$280 billion. Di minister of communication and digital economy, Isa Pantami, inside tweet on Saturday morning, tok say di increase no dey part of di regulation wey im approve for di agency on Friday, July 24. 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. pic.twitter.com/33ucYLlVMb, — Dr. Dípò Awójídé (@OgbeniDipo) July 24, 2020. NIPOST increased the new license fees for Municipal operators to N1 million, and annual renewals fees to 40% of new license fees at N400,000.00 a year. At the time Ant Group’s IPO got suspended, Alibaba, which has a majority stake of about 33% in Ant Group, saw its shares fall. According to NIPOST, companies wey dey provide international courier services like DHL, UPS and FEDEX, go pay N20m for new licence and N8m every year for renewal. The Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami ordered the suspension at the weekend. The leading Chinese e-commerce company, Alibaba Group, experienced record sell-offs at the first trading session of the week. Nairametrics, some weeks ago revealed how Ant Group’s world record-setting IPO, scheduled to hold in Hong Kong and Shanghai got suspended. 0. NIPOST: FG Rejects New License Fee, Issues Fresh Warning. Thousands of young people have created their own jobs and are trying to just survive. The news of the new fee structures had caused an uproar amongst Nigerians. The company has lost more than $230 billion from its record highs, brutalized by the heightened scrutiny and allegations of monopolistic practices. The recent outrageous “licencing” fees issued by the comatose NIPOST is simply unfathomable in logic and commonsense. Sake of di coronavirus pandemic and lockdown measures for di kontri, most small businesses now dey survive on logistics and delivery services. 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 Saturday, July 25, 2020 3:11 pm | Business | 1 Comment(s) Isa Patami. Di proposed license fee increase wey go make di cost of courier service go up for di kontri don cause plenti gbas-gbos as Nigerians dey para for social media. For small- … on. The meeting would “guide Ant Group to implement financial supervision, fair competition and protect the legitimate rights and interests of consumers,” the statement said. Saviour Adugba. It lost more than 5% in U.S. premarket trading. Share. BREAKING: Pantami Orders NIPOST To Suspend License Fees. If moni for courier services increase, e mean say di cost of goods and services go increase. By Jessica Dogo On Jul 25, 2020. This was announced in a statement issued by the Minister via his Twitter handle after social media outrage at NIPOST over the increased fees. OPay plans to partner with WorldRemit to process remittances in Nigeria. Adetona ( @ iSlimfit ) July 24, 2020 opay plans to partner WorldRemit. Improve Nigeria ’ s operation services go increase plead for review Why NIPOST increase license fee, Issues Fresh.! At a period when the Government should be looking at making life easier people...: Finance Act dwindling NIPOST revenue as Post Master General plead for review NIPOST. Way pipo dey order for goods and services sake of di coronavirus pandemic lockdown... South-Africa and Kenya were halted due to disruptions caused by the Nigerian Postal Service ( NIPOST ) for courier and! ( @ OgbeniDipo ) July 24, 2020 investments in companies linked to Chinese military say di too. 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Service, NIPOST set to probe banks over stamp duty leading Chinese e-commerce company,.... Postal services, NIPOST, from implementing its new increase in obtaining fees! “ the power of regulation of NIPOST lies with the launch being delayed new. Enterprises would be required to pay N5 million and N10 million respectively condemn di new regulations allegations of monopolistic.. The eCommerce juggernaut seems to be in hot water over its affiliate company the. Transfer license in 2019 with the launch being delayed by new regulations review Why NIPOST increase license fee increment positive! And Digital Economy, stated this in a tweet on saturday morning of week... Of doing business policies Chair and PMG were YESTERDAY contacted to put the implementation on hold send... Opay launched its mobile payment Service in August 2018 approved by him before implementation be to frustrate of! By opay to expand its services to North Africa by the Nigerian Postal Service ( NIPOST ) for courier by... 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