I got a debit alert twice from my bank reading something like this-

A debit of NGN50.00 occurred on your A/C XXXXXX. Date:17-02-2016 at 08:43 Details:CBN STAMPDUTY:21JAN2016/ S710820

A debit of NGN50.00 occurred on your A/C XXXXXX. Date:19-02-2016 at 03:58 Details:CBN STAMPDUTY:03FEB2016

I don't know what the stamp duty is for and why I was only charged for the months of January and February when I've been using the account for a long time.
What aroused my curiosity more is the fact that the transaction was made simultaneously with just 2 days interval.
Fellow nairalanders, did any of you get similar message?

Are there no other ways to generate revenue?

Flexherbal:
Are there no other ways to generate revenue?

sorry, but i don't understand u.

over three stamp duty charges...the tin tire me

talktonase:
over three stamp duty charges...the tin tire me

Hmm, so I'm not alone in this...
how much were you charged?

Got some clarifications on the internet. The


Central Bank of Nigeria (CBN) has clarified that the N50 stamp duty imposed on bank customers is not per N1000 but on the whole amounts received as long as it is beyond N1000,

The apex bank had earlier announced that a N50 duty would be imposed on an amount received by a customer exceeding N1000 but there has been rumour that the N50 would be deducted per N1000 received.

READ ALSO: N50 Stamp Duty: Nigerians React

Leadership reports that Mallam Ibrahim Mu’azu, the director of corporate communication of the CBN said on Thursday, January 21 that it was necessary to make the clarification following the rumour and misconception in circulation.

He clarified that eligible transactions that will be charged include all receipts given by a bank or financial institution in acknowledgment of services rendered in respect of teller deposits and electronic transfers for of the value of N1000 and above.

He explained that exeptions to the N50 charge include payments of salaries and wages, payments, deposits by self to self whether inter or intra bank among others.

Mu’azu said the implementation came after a federal high court ordered the CBN to direct Deposit Money Banks (DBM) to collect the duty on behalf of the federal government.

READ ALSO: FG To Make Billions Of Naira From stamp Duty

“Consequently, the DMBs have been directed to commence the collection of the duty thus: Banks are to collect the N50 stamp duty and remit same to the Nigerian Postal Services on behalf of the customer,” he said.

Source:https://www.naij.com/704761-n50-stamp-duty-cbn-makes-clarification.html

enieme:
Hmm, so I'm not alone in this... how much were you charged?

for each transaction 50naira is deducted.

I was charged N50 on my account and i didn't deposit, receive, withdrew or carry out any transaction on the said account. Please can somebody explain to me why Stanbic Bank charge me unjustly, even when CBN excludes savings account from stamp duty

I guess this is the APC's change we are promised!

Linzo:
I was charged N50 on my account and i didn't deposit, receive, withdrew or carry out any transaction on the said account. Please can somebody explain to me why Stanbic Bank charge me unjustly, even when CBN excludes savings account from stamp duty

I also with stanbic though mine is a current account.
u sure u haven't been using the account at all?

LogoDWhiz:
I guess this is the APC's change we are promised!

I don't think this move taken by the govt is fair at all. We need to know why especially why we have to be charged this much.

enieme:

I don't think this move taken by the govt is fair at all. We need to know why especially why we have to be charged this much.

Not fair at all!

Let's say 1 million nigerians recieves money in a day, that's #50million naira to the government in a day.
In a month, (30 days) on average, that's #1.5 billion.


APC and FG I hail o



#50 is too much.
It should be reduced.
The House of Assembly should review this bill.


The common man, low class in the society will have the full effect of this charge

LogoDWhiz:


Not fair at all!

Let's say 1 million nigerians recieves money in a day, that's #50million naira to the government in a day.
In a month, (30 days) on average, that's #1.5 billion.


APC and FG I hail o




#50 is too much.
It should be reduced.
The House of Assembly should review this bill.


The common man, low class in the society will have the full effect of this charge

let's face the issue as a national one instead of shouting apc.
Im even curious to know why they started imposing this tax in the first instance

enieme:

let's face the issue as a national one instead of shouting apc.
Im even curious to know why they started imposing this tax in the first instance

As you can see I said APC and FG.

APC is the FG's party.
Moreso, APC promised change not FG. And then we are seeing something entirely different.



They need to generate revenue.

same thing happen to me,
no deposit no withdrawal but I was charge 3 times daily since 3 days ago

When I got the news I thought it was a joke till it started working. Even the unemployed that still collect money from their parents pay this online stamp duty

The charges is not a crime but it becomes a crime cos they are only ripping off the masses and it won't be used in appropriate manner

enieme:
Hmm, so I'm not alone in this... how much were you charged?

50naira for each transaction i make.

dav8id:
same thing happen to me,

no deposit no withdrawal but I was charge 3 times daily since 3 days ago

3 times daily for 3 days? Is it food.
I feel for u o. I hope it doesnt continue that way.

KINGOZEK:
When I got the news I thought it was a joke till it started working. Even the unemployed that still collect money from their parents pay this online stamp duty

thats the issue.

phemmie06:
The charges is not a crime but it becomes a crime cos they are only ripping off the masses and it won't be used in appropriate manner

phemmie06:
The charges is not a crime but it becomes a crime cos they are only ripping off the masses and it
won't be used in appropriate manner

its a total rip off. The minimum amount should be raised from 1000 to at least 5000.
maybe we'd all just have to go back to hand to hand transactiOn.

I did....no probs.

enieme:

let's face the issue as a national one instead of shouting apc.
Im even curious to know why they started imposing this tax in the first instance

Because...thanks to the drop in oil prices...we do not have the cash for all the good things you Nigerians like...like subsides, low university fees,low hospital fees,roads,etc.

Nigeria needs oil to be at $123 per barrel just to keep the books balanced. Oil is at $35 per barrel. You do the math.

Sorry....but the era of awoof cash is over.Countries like Denmark that have lots of goodies pay heavy taxes.

And the stamp duty has always been there

Fraudulent Goverment, robbing peter to pay paul.


Agbalowomeri, Oba jountolo

Na their ways..

LogoDWhiz:
I guess this is the APC's change we are promised!

No...this is the effect of living on just one stream of revenue....oil....whose price you cannot control, and once the price goes down....things begin to get bad.

All oil producers are now looking for alternatives......Saudi,UAE and recently Venezuela have removed subsidies on fuel for instance.

While the last government did try to do some diversification....it was not enough....and there was a sense that most of the gains of the last government were powered by oil price increases. I knows that if I was GEJ then or even Buhari now....I would have spent money on just power, railways,roads and some ports.....and technical education.....and defence....and told everybody else to forget about money. And I would have removed all subsides.

Anything to get us off oil.

Seun

My greetings to you. It's with great pleasure I minute this important observation to you. I commend your good effort in making the world a global village, since that is what we in IT are born to do.

Nairaland is a great forum and we all are trying to build it to compete with top-notch media, but I've notice the abuse of power/privileges exhibited by some of your moderators. We Africans are known to act irrational when conferred with power. Your mod acts as mini gods not knowing that a single tree doesn't make a forest. Banning people simply because they air a view (I don't mean those that incite hate speeches or use vulgar language ) and now twist the Nairaland rule to suit their action. I believe ban should suffix after a caution and not just hacking into a user account without users knowledge (you can delete the users quote or comment with warning, not outright ban). Banning people without warning connotes users privacy are not secured. It simply means your mod can give his password to God knows who and the person meddle with users privacy.

There are hackers out there who will want to spoil the reputation of this forum with the way your mod are running the show. I was almost tempted to hack one of your mod account not until I discover he is someone I know.

Please, caution your mods, we all are benefitting from this forum. If a mod mis-act and complaint is made to you, please reply even though its a mono syllabic response.

Long Live Nigeria
Long Live Nairaland
Long Live the founder and members of this forum

KT

N.B Dont mind my grammatical blunder, I will review it later

I got charged and I was really pissed.

I mean.. Who pays the government for using their own accounts?

There must be better ways of generating income without hurting the man who didn't contribute to the economic rundown.

This will only lead to over taxation. Thereby causing more inflation

Me ooo.

Me

Was charged 50# on my Eco Bank savings account some 2wks back, buh got an alert saying the money has been reversed this week.

For those not sure what the charges are for, it's a charge for voting a dullard.

KINGTELLER:
Seun

My greetings to you. It's with great pleasure I minute this important observation to you. I commend your good effort in making the world a global village, since that is what we in IT are born to do.

Nairaland is a great forum and we all are trying to build it to compete with top notch media, but I've notice the abuse of power/priviledges exhibited by some of your moderators. We africans are known to act irrational when conferred with power. Your mod acts as mini gods not knowing that a single tree doesnt make a forest. Banning people simply because they air a view (I dont mean those that incite hate speeches or use vogal languages ) and now twist the Nairaland rule to suit their action. I believe ban should suffix after a caution and not just hacking into a user account without users knowledge (fine you can delete the users quote or comment with warning, not outrightly ban). Baning people without warning connotes users privacy are not secured. It simply means your mod can give his password to God knows who and the person mindles with nairaland users privacy.

There are hackers out there who will want to spoil the reputation of this forum with the way your mod are running the show. I was almost tempted to hack one of your mod account not until I discover he is someone I know.

Please, caution your mods, we all are benefitting from this forum. If a mod mis-act and a complaint is made to you, kindly reply even though its a mono syllabic response.

Long Live Nigeria
Long Live Nairaland
Long Live the founder and members of this forum

KT

N.B Dont mind my grammatical blunder, I will review it later

Afi vogal languages na