I am sick and tired of excesses of Nigerian government, CBN, & all Nigerian banks.
it is no longer news that we pay extra 7.5% as VAT on every transfer we made from our bank account but this stamp duty charge add to it is completely out of it.
it's very difficult to run successful business in Nigeria considering the fact that you provide power supply for your business, security, etc yet you pay excessive tax to government. As far as am concerned, federal government supposed to be satisfied with 7.5% tax on all electronic transfer but 50naira deduction on every 10,000naira and above deposit to ones savings account is step taken too far. On every transaction, be it debit or credit bank deduct 4naira as sms alert charges, we pay card maintenance fee every month, we pay 7.5% VAT on every transfer from our bank account and now they add 50naira stamp duty charge on every credit of 10,000naira and above ok our account. the worst part was that if you received 10,000naira 10 times in a day, you get charged 50naira each time and that amount to 500naira loss. I see no reason why we should be paying execessive fee on savings account because there's no justification for this. Even on calls we make, we get charged 7.5% VAT and Nigerians cannot point to exact thing their money is been spent on. Nigerians need to come out of our shell and ask government & CBN why they want to kill us with excessive charges and tax, even during this bad time that most Nigerians have turned to beggars, government still continue to tax us this bad.

Nigerians should let's reject this completely and let our government knows we are not fools

If we should fold our arms am sure they will introduce more hardship to make many Nigerians resort to committing suicide

cc lalasticlala, seun please help push this to front page

Did you vote Buhari or not ?

GamalNasser:
Did you vote Buhari or not ?

I did not
I'm a good student of history
1983-1985 is still fresh in my brain when ordinary bread becomes gold

godoluwa:
I am sick and tired of excesses of Nigerian government, CBN, & all Nigerian banks.
it is no longer news that we pay extra 7.5% as VAT on every transfer we made from our bank account but this stamp duty charge add to it is completely out of it.
it's very difficult to run successful business in Nigeria considering the fact that you provide power supply for your business, security, etc yet you pay excessive tax to government. As far as am concerned, federal government supposed to be satisfied with 7.5% tax on all electronic transfer but 50naira deduction on every 10,000naira and above deposit to ones savings account is step taken too far. On every transaction, be it debit or credit bank deduct 4naira as sms alert charges, we pay card maintenance fee every month, we pay 7.5% VAT on every transfer from our bank account and now they add 50naira stamp duty charge on every credit of 10,000naira and above ok our account. the worst part was that if you received 10,000naira 10 times in a day, you get charged 50naira each time and that amount to 500naira loss. I see no reason why we should be paying execessive fee on savings account because there's no justification for this. Even on calls we make, we get charged 7.5% VAT and Nigerians cannot point to exact thing their money is been spent on. Nigerians need to come out of our shell and ask government & CBN why they want to kill us with excessive charges and tax, even during this bad time that most Nigerians have turned to beggars, government still continue to tax us this bad.

Nigerians should let's reject this completely and let our government knows we are not fools

If we should food our arms am sure they will introduce more hardship to make many Nigerians resort to committing suicide

cc lalasticlala, seun please help push this to front page

So how do we reject said excesses? {Question for all not just OP}

sonofthunder:

So how do we reject said excesses? {Question for all not just OP}

Many ways sir, both online & offline.

Seun, lalasticlala & other mods should please move this thread or any thread related to this subject matter to front-page

If not for coronavirus, I would have done one man protest to CBN office in my state & capture my activities for the day

Stamp duty charges is completely uncalled for, no justification for it at all

Nigerians are suffering already

godoluwa:

Many ways sir, both online & offline.

Seun, lalasticlala & other mods should please move this thread or any thread related to this subject matter to front-page

If not for coronavirus, I would have done one man protest to CBN office in my state & capture my activities for the day

Stamp duty charges is completely uncalled for, no justification for it at all

Nigerians are suffering already

I'm totally with you boss but unfortunately most Nigerians don't know their rights or make any efforts to fight for it. Its a big shame. Many a times I think I just worry for nothing.