Hi fellow Nigerians .pls I will like to know if this new CBN stamp duty policy is applicable to only current account or all accounts . because UBA as been charging my savings account and customer care in d bank told me dey charge on all account.
Tnx 4 ur response.

mentain:
Hi fellow Nigerians .pls I will like to know if this new CBN stamp duty policy is applicable to only current account or all accounts . because UBA as been charging my savings account and customer care in d bank told me dey charge on all account.
Tnx 4 ur response.

My bank charges me same for every deposit above 1000 made by someone else into my account.

I contacted my bank and they said it's the new CBN policy as directed by Buhari and CBN Boss and it's applicable to all accounts.

mentain:
Hi fellow Nigerians .pls I will like to know if this new CBN stamp duty policy is applicable to only current account or all accounts . because UBA as been charging my savings account and customer care in d bank told me dey charge on all account.
Tnx 4 ur response.

The bank is right depending on the activity you performed on your bank then you can determine the illegality of the deduction the CBN excluded savings account on the basis of self withdrawal and bank to bank deposit if it the deposit being made belongs to the depositor and also the second exclusion says any form of withdrawal or transfer FROM a savings account .

Note the use of the word from in that statement this means if I send 1k to your account you would be charged for stamp duty because the transaction was TO your account and not FROM your account either in transfer or in person. I hope you understand better now.

The only way to avoid that stamp duty on deposits made to your account is only if the depositor fills "SELF" in the deposit slip. This I think my elude the stamp duty

The last i checked and when the officials of cbn were interviewed on television.they said that the stamp duty is only applicable to current accounts. is even stated in the circular but just that Nigeria banks do not understand English. Can a genuine banker confirm this information?