FG CMakes Clarification On N50 Stamp Duty

The Central Bank of Nigeria (CBN) has clarified that the N50 stamp duty imposed on bank customers is not per N1000 but on the whole amounts received as long as it is beyond N1000.

Central Bank of Nigeria (CBN)
The apex bank had earlier announced that a N50 duty would be imposed on an amount received by a customer exceeding N1000 but there has been rumour that the N50 would be deducted per N1000 received.


Leadership reports that Mallam Ibrahim Mu’azu, the director of corporate communication of the CBN said on Thursday, January 21 that it was necessary to make the clarification following the rumour and misconception in circulation.

He clarified that eligible transactions that will be charged include all receipts given by a bank or financial institution in acknowledgment of services rendered in respect of teller deposits and electronic transfers for of the value of N1000 and above.

He explained that exeptions to the N50 charge include payments of salaries and wages, payments, deposits by self to self whether inter or intra bank among others.

Mu’azu said the implementation came after a federal high court ordered the CBN to direct Deposit Money Banks (DBM) to collect the duty on behalf of the federal government.

OJPals, what do you think? Sound off below!

Comments

Post a Comment

Popular posts from this blog

Slavery: See How White Slave Traders Dehumanised Naked Black Slave Women

Image
Sexual assault of black female folks was paramount during the slave trade era as perpetrated by white people who degraded their Africans to assets rather than human beings.  Sexual assaults of female black slaves by white male plantation owners, their sons, brothers and other male acquaintances were heartlessly perpetrated unhindered in the 15th and 19th centuries before its abolition. Black women were technically degraded to objects for hard work and pleasure with no real value attached to their feelings. History recorded that black women were raped and dehumanized without fear of punishment. The reasons of their white owners couldn't be justified as they smelt of share hatred and xenophobia for their skin colour. Black men were also sexually abused by slaveholders, and sometimes, their wives were not spared from the ill-treatment as they worked tirelessly on farmlands with stipends that amounted to virtually nothing. The slave trade refers to the transatlantic tradi...
Read more

Get in Here, Ladies! Tyson Beckford Strips for Massive Eggplant Selfie on Instagram; Fans React

Image
Tyson Beckford is getting older, but the actor and supermodel has refused to quit taunting his Instagram fans with explicit photos. Moments ago, Beckford stripped down to his underwear, showing off his massive meat print and the 45-year-old hunk went on to brag about his anatomy. “Since my team don’t want me posting pics with gunz, as a concealed weapons licensed owner, I give you my .44 Magnum!” he said, sending Instagram on yet another meltdown. In April 2015, the famous black supermodel stripped butt naked for the gram just to promote his new movie, ‘Chocolate City’ where he went nude for the camera in a role as a stripper. Now, he is back, and already fans are flooding his page with comments. See some of the reactions: OJPals, what do you think? Tell us in the comments! @OJ’s Blog  EXCLUSIVE
Read more

‘Queen of SnapChat’ YesJulz Sex Tape Hits the Internet, and it’s Horrible

Image
YesJulz’ sex tape has finally hit the internet. The tape which shows the acclaimed ‘Queen of Snapchat’ having sex with a male photographer was leaked by two people she recruited to work with her. According to  Bossip , the two people – a Miami-based fitness model, Hencha Voigt, and another man, Wesley Victor – hacked into Julz’ phone, got her explicit photos and the sex tape YesJulz recorded. The duo then threatened to release them to the public within 24hrs if she didn’t pay them $18,000 cash. The Miami Beach Police said that Voigt and Victor sent Julz some of the pictures and videos as proof. “ 18K cash … you can have them back as I said you dope chick. I like your movment look if I feel any fun business game over your choice,”  Victor said in his message to Julz last week, and then they gave her a 24-hour deadline. However, the two were arrested hours ago by the police, the cellphone retrieved, and both have confessed to threatening Julz wh...
Read more