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Nairaland Forum / Nairaland / General / Business / 50 Naira Stamp Duty For Transactions Above 1000 Naira (55646 Views)
CBN Bars Agents From Using Pos Terminals For Transactions / Stamp Duty Charges Extended To Savings Account / POS Stamp Duty: FG Reviews 50 Naira To Transactions Above 10 Thousand Naira (2) (3) (4)
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Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by chubinwa(m): 3:42pm On Oct 16, 2019 |
All of this is happening because Buhari is on seat. A common man can hardly eat rice these days because of the hike in price |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by DennisEche(m): 3:42pm On Oct 16, 2019 |
Goldencheese:SHOW UR BANK STATEMENT WHERE 50 NAIRA CBN STAMP DUTY WAS CHARGED FOR TRANSACTION OF 1K |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Nobody: 3:45pm On Oct 16, 2019 |
MrNipplesLover: what makes you think they are stupid? The question you should ask is what is their motive? If they are genuine in taking the country forward then they are stupid but the blame will lie on the people who voted for stupid people. When they were campaining did you ask serious questions? most likely no...because the focus on most of the electorate is which part of the country the candidates come from, and which religion. If they are not sincere in moving the country forward, then they are not stupid because all they care about is themselves and this is not a stupid act from their point of view because it gives them more money to loot. As you can see in both cases the real stupid people are the people who vote for these leaders. 6 Likes |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Dadadavid12(m): 3:47pm On Oct 16, 2019 |
This is serious. I just pray that they should use all the charges well |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Donchukz(m): 3:47pm On Oct 16, 2019 |
With this kind of policy in place,federal government is trying to force Nigerians into banking their monies at home,or other unconventional means of banking,thereby increasing crime rate,because most Nigerians who wouldn't want to lose a kobo to any body will end up digging ground at there backyards,nawaoh! What kind of retrogressive taxation is this 4 Likes 3 Shares |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Nobody: 3:50pm On Oct 16, 2019 |
Goldencheese: This is a new charge.....stamp duty was formally on all deposit u receive above 1000naira.” Which started since 2016 .... now if u pay money try a supermarket’s POS u will be charged 50naira, if u buy something online with ur card u will be charged 50naira...this took effect in September 2019 1 Like |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by DonFreshmoney(m): 3:51pm On Oct 16, 2019 |
Seun: I disagree with you on this.. Only average or Rich people use POS. Most poor people dont even own an ATM or cant even use ATM not to talk less of using a POS.. I Support the Government on this only if the money would be channelled to a better purpose. |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by lloyds(m): 3:51pm On Oct 16, 2019 |
TBH Nigerians needs to stand up and raise a collective voice against these oppressionnform government of Buhari. These taxes are too much now. . Whay kind of insensitive leaders are these. . Only the masses suffers here. . Nigerians need to wake up |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Goldencheese(m): 3:53pm On Oct 16, 2019 |
1StopRudeness: OK. Thanks |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Omooba77: 3:55pm On Oct 16, 2019 |
Seun:We are not ready to be free when we stand up for our right................... 3 Likes |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Nobody: 3:55pm On Oct 16, 2019 |
somehow: I reported fcmb to cbn, they stoped charging me for stamp duty on savings account.... the directive of the CBN was to charge stamp duty on current account when it came out at the end of 2016.. some banks seized the opportunity to do anyhow 1 Like |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by od501: 3:56pm On Oct 16, 2019 |
No be una ask for minimum wage? Here come your minimum wage! You still call this shit hole a country?! Shame; |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by beambally: 3:56pm On Oct 16, 2019 |
DennisEche: yes, the guy you quoted is correct, stamp duty on deposit of over 1k have been on for over 2 yrs for pple using current accounts and not savings account, maybe u don't monitor you account.but this new policy is talking to web & POS merchants, for any settlement they receive daily , the bank will unbundle dat settlement (because transaction settlement are lumped together) for every transaction above 1k the merchant will get debited for stamp duty, if u v done 100 transactions above 1k, u get debited 5k for stamp duty. 3 Likes 2 Shares |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by MrNipplesLover(m): 3:56pm On Oct 16, 2019 |
isthatso: in summary of your comment, the people who voted them in got served. couldn't agree more to your last statement. if anybody comes here and starts posting to express his/her displeasure to what these people are coming up with, he/she must be stupid. I spit and piss on the heads of the hypocrites in this thread ![]() |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Nobody: 3:57pm On Oct 16, 2019 |
What d heck are they stamping? Which kinda stamp duty? |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Medanoski(m): 3:57pm On Oct 16, 2019 |
No be only gbese una enter, by the time they are done with Nigeria una eyes go clear. I don't know if any of you have been keeping tabs on the long list of both the indiscriminate tax increments and the introduction of new taxes. Next level things. 3 Likes |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by permit(m): 3:57pm On Oct 16, 2019 |
God bless MKN for his prophecies. This government Came to kill and destroy 3 Likes |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Angelfrost(m): 3:58pm On Oct 16, 2019 |
Well... Since this is the best the professionals in the economic team could come up with to fund the economy, I can only smile and shake my head... My simple questions are: 1. How long do they intend to run this "revenue generation" drive??! 2. To what national economic end??! 3. What is the target generated amount??! 4. How economically equitable is it to tax all classes of Nigerians the same amount??! Won't that simply make the already poor simply die of hunger, or increase crime rate??! 5. Finally... What mechanism is actually in place to properly account for the money??! 2 Likes 1 Share |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Nobody: 3:59pm On Oct 16, 2019 |
Omooba77: No mind that guy, e dey take style dey defend the govt. For the past 5 years, I have been doing online transactions nothing deducted from my account. |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Ganiyu2021: 3:59pm On Oct 16, 2019 |
what is wrong our leaders that they no longer think of developing the country even if they have not done anything good when it comes to development in the country. Now all what they think about is a way to collect the poor peoples money. What is happening in this Nigeria........ |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Nobody: 3:59pm On Oct 16, 2019 |
Goldencheese: Infact the charge is illegal if ur account is a savings account....CBN gave the directive for them to charge stamp duty for all deposit on current accounts.....I saw the CBN memo with my two eyes, some of these banks just decided to do anyhow.... I reported my bank FCMB to cbn and they’ve stopped charging me stamp duty on my savings account since 2017.....GTB doesn’t charge me such nonsense.... 3 Likes |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Nobody: 4:00pm On Oct 16, 2019 |
DonFreshmoney:Hasty generalization. Those who result to pos to withdraw and pay in money nkor? What's ur definition of poor? 2 Likes |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by wizkidblogger(f): 4:01pm On Oct 16, 2019 |
many people are not aware |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by ihitenansa: 4:01pm On Oct 16, 2019 |
A305:sowore that was the first to congratulate this disaster? Abeg no insult the great Socrates.. ![]() 1 Like |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Nobody: 4:02pm On Oct 16, 2019 |
Dadadavid12: Hey y’all come and see this comedian..... 2 Likes
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Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by DonFreshmoney(m): 4:02pm On Oct 16, 2019 |
AwkaetitiBabe: Its meant to be a cashless system. POS is meant for payment and not to make withdrawals |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Goldencheese(m): 4:02pm On Oct 16, 2019 |
1StopRudeness: All my accounts are current and business accounts, may be that is why I see so many deductions. Many thanks for your kind clarification and informed responses. 2 Likes 1 Share |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by OROSUNBOLB(m): 4:02pm On Oct 16, 2019 |
Another dividend of next level ! Sai baba! |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by freeman67: 4:05pm On Oct 16, 2019 |
This is not new..it's has been the law for a while now |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Nobody: 4:06pm On Oct 16, 2019 |
Goldencheese: You are the small mind because you are a bloody liar. |
Re: 50 Naira Stamp Duty For Transactions Above 1000 Naira by Akano5(m): 4:06pm On Oct 16, 2019 |
Omooba77: Where are we going in this country. I go run away at last. :| |
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