COVID19: Nigerians Lament Deduction Of “Crazy” Stamp Duties By Banks | Sahara Reporters SaharaReporters gathered that the banks in a series of debit alert messages to their customers, have started to deduct the charges. READ MORE:
Nigerians have condemned the deduction of stamp duties by banks as they battle the economic impacts of Coronavirus.The United Bank for Africa announced that stamp duty charge would apply on all customers’ savings account from April 1, 2020, few days after donating $14m to the country’s COVID-19 fight.
Also, Access Bank, in a message to its customers, said the deduction of the charges would take effect from February 1, 2020, when the Finance Act 2020 came into effect. Miss Zipporah, a Twitter user, revealed that N6,100 was deducted from her account for stamp duty by UBA.
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