It is no longer news that the Central Bank of Nigeria had through a circular issued on Jan 15, 2016 directed Deposit Money Banks to deduct 50 naira stamp duty on each deposit on each deposit made into current accounts with a value of 1000 naira and above in order to boost government's revenue drive in compliance with the Stamp Duty Act of 2004.

It would be proper for Nigerians to know how much was realised from the stamp duty contributed in 2016. This stamp duty was introduced due to the drop in revenue accrued to the government from crude oil sale as result of fall in its price and pipeline vandalism.

Unfortunately, the federal government has directed banks as from January 2017 to extend the 50 naira collections to the savings accounts. https:///skbTLOll1w

Why was the government taking loans and still making moves to obtain another $30bn loans? Why has the finance minister put Nigerians in the dark as touching the trillions on naira made from the stamp duty collections? How much revenue is expected to accrue this year when it has now been extended to the savings account? These questions and more are begging for answers.

This 50 naira deducted from each deposit 1000 naira and above is transferred into the account of NIPOST. Some people abandoned their current accounts and moved to the savings account last year because of the deduction, but now the deduction is now inevitable.

Is this the change promised Nigerians?


Is this diversification?


Revenue-accountability=corruption

rusher14:
That's a NIPOST/CBN/FIRS initiative.
Channel your questions appropriately.

Whose government did they make the money for?


Who gave them the directive to collect the money?

solutionsnow:
Is this the change promised Nigerians?


Is this diversification?


Revenue-accountability=corruption

Yes oooooo