CBN N50 STAMP DUTY CHARGE

To attain personal financial freedom, you need to be up to date with financial information in every society you find yourself. The Central Bank of Nigeria recently introduced a N50 Stamp Duty Charge for payments of N1000 and above received into your account. Initially, not everyone was able to understand the information. So I saw this on FCMB Facebook page, a clarity on the CBN N50 Stamp Duty charge.

Dear Customer,

The Central Bank of Nigeria (CBN) recently announced the introduction of a Stamp Duty Charge for payments of N1000 and above received into your account.

Effective January 15, 2016, you will be charged N50 as a recipient of funds via cash deposit, cheque deposit or electronic transfers of N1000 and above.

These accounts types are not included;

- Savings accounts

- Salary accounts

- Account transfers to your own account within or outside FCMB (Your other accounts)

Please note that this Stamp Duty Charge applies to transactions of N1000 and above, and NOT every N1000 deposited to your account.

Culled from: www.facebook.com/fcmbmybank/