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Joe Effiong, Uyo
The current policy of taxing some percent off certain amount deposited or withdrawn from the bank has been described as a senseless act that would further increase harship in the courtry.
A member of House of Representatives, Mr Patrick Ifon, speaking aside with our correspondent while waiting for the vice president Prof Yemi Osinbajo to inaugurate Kings Flour Mill in Onna LGA, Akwa Ibom State on Saturday, said Nigeria cannot begin to implement cashless economy by inflicting hardship on the poor people.
Accordingly to Ifon who represents Eket federal constituency of the state, the policy ” is senseless” because there is no facilities in Nigeria to support cashless economy at the moment.
“Like now, there is no ATM in Onna and you transfer money to someone who cannot get it meaning since there is no bank here, you have to bring the cash to them else the whole world would be told that you played them 419.
“If someone lends money and the person wants to pay back and you begin to tax some percentage of the money, it means that the whole interest would be wiped off and that would discourage lending which eventually would adversely affect business development,” Ifon reasoned.
He expressed satisfaction at the rate Akwa Ibom State government is implementing its industrialisation policy, stressing that with the industries so far in place, unemployment would greatly reduce in the state.
Ifon whose election was unsuccessfully challenged by his APC opponent at the tribunal, said the recent rulings in which the different tribunals in the state dismissed petitions filed by the APC candidates was a confirmation of the fact that Akwa Ibom is a PDP state.
