STAMP DUTY KE?
Imagine! This new hand wey CBN carry show us na wa oh. I jus open paper say make I dey updated on who dem don catch again (Dasukigate tinz) but wetin my eye first see fear me! Our President jus dey find every which way to generate revenue as oil price dey drop like Manchester United form. According to reports, the Central Bank of Nigeria has mandated all commercial banks and other financial institutions where people deposit money, to charge a sum of N50 on every cash deposit or electronic transfer from N1000 ranging upward.
These charges are payable only by the receiving accounts and it is in compliance with the Stamp Duty Act 2004.
The good news is that this stamp duty kini doesn’t affect salary accounts or student savings accounts or normal savings accounts but current account holders will definitely be affected. Plus, if you deposit one million naira for example, the receiving account will only be charged N50 naira. In other words, the charges apply only to each transaction irrespective of the amount of money in question. Again, self-deposits or transfers from one of your account to another of your accounts either within that bank or between two different banks, will not be charged.
On second thoughts, if someone were to deposit N1000 only into my account, does that mean that I will only receive N950? Gbese!! Oh Lord, is this a sign? Speak to me Lord, should I close the current account I opened just 2 weeks ago?? If you know you owe me money, please DON’T PAY INTO MY ACCOUNT! Abeg, just call me and we’ll negotiate where I will come and meet you. Or if u must pay, pay N950. Keep paying N950 daily till your debt is complete, thank you.
So, fellow Nigerians, do share your thoughts on this latest policy while we keep our fingers crossed for the next episode in our economic series. Sayonara!
@NiranNoni
The President needs to fund the budget, he is looking for money anywhere. this is our only way of contributing to the change.
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