I really don't understand these banks in Nigeria. I thought the N50 stamp duty charge is for current account? Why are they charging me N50 from my savings account? I just received this message from Stambic IBTC

A debit of NGN50.00 occurred on your A/C XXXXXX2606. Date:07-04-2016 at 12:16 Details:CBN STAMPDUTY:07APR2016/ S981446 Balance:NGNXXXXXXXX.XX.

PLEASE I NEED HELP UNDERSTANDING THIS STAMP DUTY.

I experienced this last month when I made a deposit to my saving account thinking it was a mistake.

Stanbic bank extorting through stamp duty.

I think the best thing Is to gonto the bank and find out what this scam is all about

I tire oh

prestige2013 anisalome
you should visit your branch to complain if not handled well, read the CBN Complaints Guideline Here

Make sure you research a bank's terms and conditions on their bank account before signing up to avoid disappointment later on. As you probably know, banks are crooks anyway and they always find ways to deduct.

I definitely will do that. I will complain and get them to retify it immediately. I am sure they are doing that with notion that since the money is little the owner will not ask questions. Thieves.

Its a fraud, by stanbicibtc, I was in dia office in ilorin demanded for d cbn circular, but dey could not provide it, was told dat dey have a circular from dia HO to dat effect which is not for public consumption

I think the best thing is to close the account. I don't really understand these South African companies.