NAIJA_Wait, we will now pay N50 to FG every time we receive money in our account?

The Federal Government has imposed a stamp duty of N50 on bank customers for money received into their accounts. This implies that every bank customer will henceforth pay N50 stamp duty for money received into their accounts through electronic transfer, cash and cheques.
This directive was contained in a circular to all Deposit Money Banks and Other Financial institutions titled, “Collection and Remittance of statutory charges on receipts of Nigeria Postal Service under the Stamp Duties Act”.

The circular in part reads

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About Admin MC3

This is dummy text. It is not meant to be read. Accordingly, it is difficult to figure out when to end it. But then, this is dummy text. It is not meant to be read. Period.

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