Access Bank to recover 3 months stamp duty from customers
Access Bank Plc has disclosed that it recently discovered a mistake in its operations records, whereby stamp duty charges on applicable transactions were not passed on to customers.
The bank said in the mail to its customers that the omissions occurred between February 1st, 2020, and April 30th, 2020.
While apologising for the error, the lender stated that all concerned customers should prepare to pay off the accrued charges.
In the
sent
to customers, the accrued N50 stamp duty charge will be debited from applicable customers’ accounts for remittance to the Central Bank of Nigeria, CBN.
Concerned customers were, therefore, advised to keep enough money in their bank accounts in order to accommodate the charge.
It stated: “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,” the email from the bank read in part.
The email further explained that the CBN requires that a stamp duty charge of N50 be imposed on savings and current account holders for transactions (both deposits and electronic transfers) exceeding N10, 000.