galantjoe:
10% inheritance tax is payable to state govt on proceeds of deceased assets. The money is not for the bank but for state govt. The money must be paid upfront before letter of administration will be issued.

Dear op, it is standard procedure one must follow before accessing the deceased money. The issue of next of kin is nothing but void in accessing the dead acct. It is only letter of administration or will can be used access the deceased acct.

Consult your lawyer or accountant to help u to process the documents

Thanks boss. I've gotten the clarifications I sought after. I appreciate everyone.

elchariotlp:
Either the Staff that advised you is ignorant or you did not understand the advise given.

10% of the money is payable as Estate Fee to the Government. The sum is usually paid by the Administrators (survivors of the deceased) before the Letter of Administration is issued while in some states, the Court directs the Bank to deduct the 10% and remit it to the state while the Balance is made available to the Administrators.

All that the Bank deducts averages 5k to 10k expanded in confirming the Letters of Administration or Court Order from the Probate Registry or Court respectively.

Thanks for the clarification.

Omihanifa:
The percentage varies from 5% to 10% depending on the State and it's going to be paid to the state government where the letter of adminstration is made and approved

Okay, so what's the charge actually for? Which service have the provided? I'm sure that they will pay for the letter of Administration when it's time to get it

BabaOwen:
No, they don't.

Write about it to the CBN, so far the deceased no owe dem any money.

I wonder oo, we will do as advised. Thanks

Dear Nairalanders,

Trust we all keeping safe.

I really need clarification from bankers and experienced persons in the house. A friend of my lost her father recently and they have started receiving their father’s entitlement which was paid into the account domiciled with a Nigerian bank operated by the deceased.

However, my friend’s mum lost their dad’s ATM, so they reported to the bank with the death certificate and requested for a new ATM or the money moved to another account but the bank is now asking for a letter of Administration and they will take 10% of the money left in the deceased account.

My grouse is not the letter of administration but the 10% they are asking on another person’s entitlement. Is there any law backing this? How can we go about it because the money is a substantial amount?

I'd appreciate your advice and clarifications. Thanks

All these cele babes fear them, den go dey do like witches

DJ mumuni at ajegunle would have done better

aduntemi:


With gloves and all

Exactly

Lay on and team dey do the kind choreography we did in primary school

Why is neo giving instructions? That’s really not too good

Wetin neo wan do?

Kidd don spoil the dance ooo

Neo is the best liar biko

Laycon is a lazy ass answer, can't wait to see him doing pushups

Lucy ti ya werey oooo

tonididdy:

She is worse a weirdo than kaisha.... In fact she psychopathic

Ahswear, she’s the type that get so obsessed and can go to any length to hold tight her man

It’s quiet obvious that Tolanibaj really likes prince, i hope he reciprocates.

Omenyi1:
So las las that nwanyiobasi of a lady na scam.

The big head is not a scam

Ahswear kidd is a sweet guy eventho he’s flirtatious

Froshloaded:
Who saw the way Neo spanked Vee's ass.

Thats kinda rude and disrespectful

What’s rude there? Both are together now not just mere friends

Neo na ediot

Laycon mates are investing on physical body that springs up physical attractions but my guy is there sitting like an umpire. The dude should join them biko

Is laycon stupid? What is the reason for this? He should let her go and move biko, vee and Neo already advised this mofo.

Laycon wants to cry, the dude is turning to a weakling..

This is a big lesson to all guys, never allow yourself to be an appendage which only serves as cushion during down times. If it's not yes, it's not yes. Don't allow any ”maybe” to make you lurk around thinking you gonna be given chance. Erica actually knows what he wants but seems laycon is confused and believes that she loves him but just avoiding it. Guys wise up and if you no dey gym please start���

The girl is already clearing laycon that you don't wanna stay with me cos you want your space. She's gonna pick kidd

Ozo is just making this mgbeke looks special �

So, nobody cares about Dora? Where is she biko? The girl is really hurt, I'm not her fan but I feel for her. I missed her vibes

Well, it will be somewhat but has he thought about the other effects that comes with it.

It's apparent that Covid 19 is really hitting hard and it shows on their report that Nigeria only accounts of 11.6% of the total group sales while SA with 1/4 of our population accounts for 78% of the group sales, that means SA has got a better Purchasing power parity than ours and we have very low middle class and high class level in the country. They will be selling it to another investors which means the FX remittances will be to the head in SA and Nigeria will only benefit from the taxes accrued from the sales. Also, the investors might decide to shut down some of the retails that is not adding quantitative and qualitative values to the chain, hence there will be job loss. I heard from grapevines it's going to be a franchise, I just hope it won't be another case of Mr biggs.

Wtf is wrong with Keisha?

ntyce:
What's Dora doing?

Egbami

Oun fi omu gbe ball

What’s dora doing biko? ��