Public institutions in Nigeria have a knack for policy inconsistency. They can aggressively pursue a course of action one moment and, the very next, introduce measures that directly contradict their stated objectives. The Central Bank of Nigeria (CBN) is currently at the centre of one such paradox.
Everyone alive in the last couple of years witnessed the CBN champion financial inclusion, digital banking and cashless transactions. It actively encouraged banks to expand their digital footprint, increase adoption of digital payments and decongest the banking halls. Nigerians responded positively. People embraced digital banking, relying on ATMs, mobile transfers and POS terminals instead of entering the banking halls.
The chairman of the United Nigeria Airlines, Professor Obiora Okonkwo, has lamented that multiple taxation coupled with rising foreign exchange regime are some factors pushing up the cost of air tickets in the country, reports ITREALMS.
Stressing that for Nigerians to enjoy lower air travel tickets, the Federal Government must step in to save the aviation sector by moderating the over 20 taxes paid on every ticket purchased by travelers as well as reign in the astronomical rise in the foreign exchange regime.
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