₦airaland Forum

It's Highly unfair to say the least by CBN as an organization to continue with the proposed stamp duty as it is evidence, the harsh realities created by the Covid 19 pandemic is alarming.

In the news the other day, I read where CBN stated it was giving out soft loans as palliatives to SME's this period to cushion the effect on their establishment and revenue generation, but the painstakingly forgot to anul the inhumane Stamp duty imposed on them on financial institutions.

Imagine getting such news from my banking institution at such time....


On February 1st 2020, the Federal Government of Nigeria (FGN) released a policy directing all banks to apply a stamp duty charge of ₦50 to all inflows of ₦10,000 and above.



You may have noticed this charge on a few of your transactions from April 1st 2020. The charges for February and March 2020 will be deducted from your account on May 9th.



What this means

A charge of ₦100 will be deducted from your account for inflows above ₦10,000 received in February and March 2020. As directed by FGN, funds will be transferred to CBN immediately.


I write from a place of pain and as a Nigerian on behave of the masses, that CBN should look into the issue of Stamp duty and call it off.

Thanks.

Cc. dominique, FOD

If this is not UBA lemme break ���

The stamp duty is being collected by CBN on behalf of the federal government and NIPOST, it's not a CBN initiative
The proceeds are accessed by NIPOST
https://www.globasure.net/stamp-duty-in-nigeria-all-you-need-to-know-about-pos-n50-stamp-duties-charges/

Princeadonis:
If this is not UBA lemme break ���

It's them ooo! Imagine what they sent out to customers on top corona palava.

chigoziri2403:
The stamp duty is being collected by CBN on behalf of the federal government and NIPOST, it's not a CBN initiative
The proceeds are accessed by NIPOST
https://www.globasure.net/stamp-duty-in-nigeria-all-you-need-to-know-about-pos-n50-stamp-duties-charges/

OK sir. Let the Federal government cancel it na.

Palliatives I didn't see, instead they are collecting money from me in this hard times.

Hmmmn. This one pass 19!

MummyIMadeIt:
OK sir. Let the Federal government cancel it na.

Palliatives I didn't see, instead they are collecting money from me in this hard times.

Hmmmn. This one pass 19!

if you want to survive in this country, just understand that you don't have a government that cares about you,

UBA have been deducting #50 from my account in the name of stamp duty

chigoziri2403:
if you want to survive in this country, just understand that you don't have a government that cares about you,

Ofcos but how long should a frog stay in water. We need to speak out via any way lossible or else the will sell us and our two generations without our consent.

Since they didn't give me palliative they should cancel this wicked stamp duty na.

bustykasa:
UBA have been deducting #50 from my account in the name of stamp duty

Now it's #100. UBA is one of the most annoying banks in Nigeria.

They were subcharging me unnecessarily and even after complains nothing was done, I had to port.

See UBA their own 19 is more than other banks

MummyIMadeIt:
Now it's #100. UBA is one of the most annoying banks in Nigeria.

They were subcharging me unnecessarily and even after complains nothing was done, I had to port.

See UBA their own 19 is more than other banks

why are they the only ones deducting the stamp duty

bustykasa:
why are they the only ones deducting the stamp duty

Other banks do, I have recieved mails from other banks stating they will kick of next week.

Na 450 dey wan comot from my own

MummyIMadeIt:
It's them ooo! Imagine what they sent out to customers on top corona palava.

Princeadonis:
Na 450 dey wan comot from my own

Ur bank account large be that na