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Access bank to charge customers omitted 3 months Stamp Duty payment



Access Bank Plc disclosed yesterday that it discovered a omission error in its operations records, where Stamp Duty charges on applicable transactions were not passed on to customers in the last 3 months.

This was announced to its bank customers via an email where the bank mentioned that the omissions occurred between February and April 2020.

According to the lender’s email, the accrued N50 Stamp Duty charge will be debited to applicable customers’ accounts for remittance to the Central Bank of Nigeria, CBN. The affected customer were thus advised to keep enough money in their bank accounts to accommodate the charges.

The bank mail reads: “We recently discovered that the charges on applicable transactions carried out between February 1, 2020, and April 30, 2020, were inadvertently not passed on your account. We sincerely apologise for this.

However, in compliance with the CBN mandate, we will be required to process the accumulated charges for the said period on your account for remittance to the Central Bank of Nigeria. We request that you fund your account to accommodate this charge,”

Stamp Duty charge of N50 was recently imposed on electronics transactions in addition to over the counter deposit transactions and are to be paid by Savings and Current Account holders on amounts exceeding N10,000 only.

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