Deposit money banks (DMBs) say they will deduct stamp duty for transactions carried out in December 2016 and January 2017 effective May.
According to banks, the move is as a result of a circular from the Central Bank of Nigeria (CBN),
“Following CBN directive, please note that we will be retrieving stamp duty on all your December 2016 and January 2017 transactions,” a commercial bank said in a text message to it customers.
According to Isaac Okorafor, the acting director of corporate communications of the CBN, “the directive was as a result of a court order.
“It is in compliance with the order of a court,” Okorafor added.
The development comes at a time Nigerians are struggling to cope with the economic hardship in the land.
Culled From: TheCable