This clarification was made in a statement sent out by the Director Corporate communication of CBN, Mallam Ibrahim Mu'azu yesterday January 21st.
The management of the apex bank had on Monday January 19th sent out 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 theStamp Duties Act”, mandating it to collect N50 stamp duty for deposit transactions.
The N50 stamp duty is being introduced to help increase the tax revenue of the Federal government. Part of the statement released by the CBN Director of Corporate Communication's reads “The implementation of the Stamp Duty at this point in time emanated from a Federal High Court order that the CBN should direct deposit money banks under its supervision to commence the collection of the duty on behalf of the federal government.
Consequently, the money deposit banks have been directed to commence the collection of the duty. Banks are to collect the N50 stamp duty and remit same to the Nigerian Postal Services (NIPOST) on behalf of the customer.
The N50 stamp duty is charged per transaction and NOT per volume. Hence, irrespective of the amount, the sum of N50 is to be charged provided such a transaction is N1,000 and above. There are however some exemptions and these include payments of salaries and wages, payments and deposits for self-to-self transactions whether inter or intra bank among others,’’ the statement said.
119 comments:
Wonderful time.. sweet & nice...LIB Tins
Na them sabi! * it's well*
ALRIGHT.
This people should mind their self ooooo.
Shoro lele yi sha
@ d end there won't be any improvement on tax revenue..
my God I just deposited 3k to my younger brother's account o. I shud hv seen dis b4 going na. Linda plz wen de go start d stamp collecting?
COMMENDABLE
Ok
Ok...#LindaConfirm
Makes no difference plz
Okiie, dats much better. Linda take note!
Am happy I did not vote for this Apc.Abi linda!
Oh that's new
Hmmmmmmmm noted anyway
#she'sunique#
Am happy I did not vote for this Apc.Abi linda!
which implies one has present his/her ID during self to self transaction so they wud be sure u ar actually paying into ur own acct...smh only in naija
Oh better
Meaning
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They are not serious
this is absolutely nonsense.... there are other ways to generate revenue for d govt.. but in nigeria d only way to generate revenue is by milking d poor dry.... Dis APC wey we vote don dey becom complete sell out...
Total crap is dis the forward in d 21st century hmmmm Nigeria need wisdom seriously cos is like dey dnt know what to do orwhat dey re doing
BEAUTIFUL9JADELTABABE... make CBN go behave demselves ohh hmm anyway me am Justsayingmaownohh via ma LATEST TECNO F7.
@lindaikeji d lindus am still waiting
And there will still b bank charges at d end of d month hmmm
Would you collect N15,000 for two years on a job, even with your B.Sc certificate (2.1)? READ how a Nigerian graduate overcame the challenge of unemployment in the country.
Cbn are coming up with another confusion method, God helps us,
Since we are now paying for stamp, I will be telling d cashiers in d banking hall not to stamp my money.
Observed, with all humility and honesty I have feelings for Linda Ikeji and would sincerely wish to meet her in person this year as part of my resolution.
cash deposit by 'self' henceforth..
Hmmm ...
Ah... Nigerians complain too much because of common N5O nai we no go hear word?
But that is not my business... My business is Diezani Alison-
Madueke! What's happening with that witch? Is she dead or alive , still sick? Make she no think say we don forget her o.
WE STILL REMEMBER.
They shouldn't even try that their N50 stamp duty.
On top how much?
Is clearer now
Issokay
...merited happiness
TyrantBuhari is a thief, it will never be well with him. APC has succeeded in scamming poor nigerian citizens. May amadioha strike TyrantBuhari for all the atrocities he's been committing against the masses.
Hmm God is watching...
#FINEST
Nawa ooo
Nawa ooo
It's still a foolish move...so if my buisness is an online business..for every money paid to me i'll loose 50 naira... Odiegwu... this is very bad...not even monthly but for every transaction..
It's still a foolish move...so if my buisness is an online business..for every money paid to me i'll loose 50 naira... Odiegwu... this is very bad...not even monthly but for every transaction..
Very good
Makes no difference. Lift it entirely.
POPULAR LIB READER!
Seen
Noted
Lol, seriously
#*karlishah*
Berra
Nigeria is broke
it is well. Linda see to that case
This is Bullshit whic kind rubbish be this My president biko if you knw abut this Sir its not a good idea ; and its not has if they get the tax money and will use it to fix the country or sometin else. #WeSayNoTo50NairaStampDuty
*dEW*
this form of funds raising for Nigeria to work again,in absence of crude oil money is a welcome development
Better
Meaning??
Post my comment.
.
Hmmn always finding ways to extort nigerians
-D great anonymous now as Vivian Reginalds
*Sigh*
If 10 million people have 1000 deposited into their accounts per day,that's how much? There are more than 100 million nigerians with active accounts...I wonder how much the govt will get in a month alone.
Hmmn government always finding ways of extorting nigerians
-D great anonymous now as Vivian Reginalds
Sai baba! Change!
O better beyen o
Wlcm to change
wow....angelmakiz@yahoo.com
What of self to child in university? Fucking retards
WHAT EXACTLY DO THEY MEAN? THEY SHOULD EXPLAIN AND MAKE IT CLEAR. NDI OSHI
Hmmmmm. I still don't understand what's happening seriously
#iT wiLL oNLy gET beTTer
#iT mUsT eNd iN prAise
So as a student if someone sends money for me you just take 50 from it really?
Rapuluchukwuifenineadigommakings@yahoo.com
Direct from Delsu.
We cannot protest against that even when we want to...
We will survive in this beautifuL country of ours.
I just dey look una #Lindangwanu#
hmmmm ok well it will always be good if its finally utilized after collection.
All these money that this govt claim that some people stole that they re recovering is it not enugh to run dis country?
Collecting our money forcefully yet the so called leaders won't sacrifice their luxury living and do away with private jets,wicked government. May DEATH caught anyone who will squander a penny of mine because this is not oil boom but my hard earned sweat.
This is another avenue to raise money for the federal government. If this would help to boost our fallen economy then it's a welcomed concept.
Nigerians stop f***king complaining. This is extremely cheap compared to various taxes u have to pay when living abroad. Everything get tax for here and i mean EVERYTHING
So federal govt can't find other means of raising revenue in the country but have decided to steal the people of nigeria's hard earn money? This is wickedness in high places. What about the stolen money that have been returned we no hear how d money take waka o. Una when vote for change Weldon o.
If someone send 1000 naira for you and 50 naira was deducted from it, is now remain 950 nairn ooh my God.
You people raise money for Nigeria from the masses then expend it on buying fleet of cars, pay outrageous sitting and standing allowances, etc for the senators while others suffer abi?
The thing is jst confusing. I don't understand a thing I read up there. Lol
Am not yet convinced about this stamp duty stuff.... Great discovery of sports news here
With all d abacha loot being returned,money stolen by politicians being returned and all d money recovered so far from #Dasukigate are not enough to boost d economy abi? You still want to forcefully take from d poor! Oh no its only God that can punish this heartless Buhari administration. Why don't you say this before election and c if people go vote 4 u.APC shame
2019 is what we are waiting for to kick out this government who do not want to face agriculture
2019 is what we are waiting for to kick out this government who do not want to face agriculture
Which kind rubbish tin, the charges that they countless times isn't enuf for dem abi? This tins they're introducing every day ain't making sense no more cos I don't have extra #50 to dash anybody, this one is my business oh. Ain't in support of this...
Rubbish
For me, this whole N50 deduction is insult to injury to an already depressed population. Nigerians are really suffering, instead of finding ways to increase people's bank accounts, even if it's a free 5 naira for every transaction, you are busy finding ways to deduct the little one we dey manage. It is well. Oh Nigeria. I pity you.
So, if I send 10k to my sister at school, N500 will be deducted. Meaning she'll get 9k5 instead. School fee nko? If u pay 100k for example 5k will be deducted, so to make up for this, schools will increases fees. What d heck is wrong with our govt? Past presidents, governors and Co. Receivehusge amounts of money every month for doing absolutely nothingggg! 25million naira for d presidents I think, d same ppl who embezzled n made this country what it is today, no one is talking about that, they sit down n think of how to make life difficult for the ppl. What is NLC doing? Nothing, can't we protest against this? How can we sit n watch this happen? Nawa o!
Amen my sister Amennnnnn! Neither them nor their silly spoilt brat children will make it in life if they even attempt to steal our money!
Okay na
They will just be looking for ways to embezzle our money, the CBN governor is mad and all those in support of this scam are all fools, or maybe money don't enter your accounts on a daily basis that's why you are supporting this rubbish stamp duty mtewwwwww!!!
They will just be looking for ways to embezzle our money, the CBN governor is mad and all those in support of this scam are all fools, or maybe money don't enter your accounts on a daily basis that's why you are supporting this rubbish stamp duty mtewwwwww!!!
Ode!!!
Yet u wud still be charged 50naira with or without ur vote dats if u are up to 18 years from this foolish comment of urs
Is as if a certain group of people has sworn to make Nigerians suffer by all means possible....#myview
All those alaba men should just remove 250 naira at the start of each week and remit to their account officers, coz e sure die say na dem go dey pay pass. Lol
Unfortunately it does not matter if u voted for APC or not. U are bound to obey what ever policy is passed into law or you become a 'criminal' if u fail to. We are all basking in the aftermath of PDP's years of wrong policies and wrong implimenations. Just pray for good implementation of the policies, because at the end it is not about the political parties but about Nigeria and Nigerians. God bless Nigeria.
Theft on fleek...
Enugu's second shoe designer
Ya mad... u and who vote? ??
Noted
No your BVN would be used to determine if both accounts are yours
So if I can't go to the bank to deposit mysel and I send someone to help me, cbn will charge 50naira? Issorai
Wetin concern me...I don go buy shovel...I go just dig ground bury my money for a very strong thick iron safe...make I see weda buhari go con collect stamp duties for house...mtchewwww.....
~make I go drink one bottle of beer~
If you don't complain about small things now, big things will come upon you and it may be too late to complain. With due respect, you lack understanding!
Your passport will show on. Your mandate as the acct holder while trying to deposit.
Go to school Nba read it again and again until u understand it. Mtchewww can't u see no stamp for self-to -self deposit.
আবুধাবি প্রিন্স
always generating...yet nothing to show for it
What! !! They should make it N5
Sai Change! Sai Buhari! Kikikikikikiki. I still dey laugh!
This administration lacks wisdom. Milking the poor masses just to enrich the government. God dey.
Never in my life have I ever heard of a duty to deposit money in the bank. Did I read right? Wow, money must be tight in Naija when you have to pay to put money in the bank. I have a feeling mattress and hole in the ground savings will be back in swing...lol
BUHARI IS STEPPING ON MY TOES OOO. WAT NONSENSE. SO EVERYTYM I RECEIVE CASH FROM OBODO OYINBO, THEY'LL REMOVE N50
FG sucking the poor dry... nonsense
Very good, so why are u still there if life is so hard? U open your tap n get clean water, so clean that u can actually drink it, we buy our water here, even d ones we drink right in our living room, light nko? Pls how much do u spend on fuel per month? Buying generator? repairing n maintaining d generator? How bad n your roads n wt effect does it hv on your car, u want to use d f word, okay, we f***king pay for every single thing we use here, every single thing, so leave us to complain!
This CHANGE is what Conductors are fighting over on commercial buses... We Need Positive Transformation (Better Leader) #BuhariNotGoodEnough.
Change una want, change una dey see. Another one dey come very soon. Sai Baba.
All hail Nigeria
What if person send 50naira give me nkor???
From today I will be going to take my money in cash and deposit myself "if I hear say I give bank N50
Like seriously!
Well understood.
#Linda'spal
It's simple. Nigerians are wiser now. Even if my friend is paying, I will ask him or her to use my name. That's self to self transaction
If a debtor pays, them go collect #50 on top your money
Yahoo yahoo alert...
Lolzzzzzz
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