Access Bank Customers To Pay Accrued Stamp Duty Charges

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By Our Reporter

Access Bank Plc has apologised to its customers over a mistake in its operations records which was recently discovered.The bank said stamp duty charges on applicable transactions were not passed on to customers. The omissions occurred between February 1st, 2020, and April 30th, 2020.

The bank said all concerned customers are to prepare to pay off the accrued charges.

According to an email that was sent by Access Bank to its customers over the weekend, 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.

Access Bank said “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 Central Bank of Nigeria 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’.

 

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