Home » News »  HOUSE OF REPS QUERIES CBN, COMMERCIAL BANKS OVER ALLEGED EXTRA CHARGE ON STAMP DUTY

 HOUSE OF REPS QUERIES CBN, COMMERCIAL BANKS OVER ALLEGED EXTRA CHARGE ON STAMP DUTY

 

House of Representatives panel has queried the Central Bank of Nigeria (CBN) and some commercial banks for allegedly charging extra amount out of the approved 50naira stamp duty collected on behalf of the government.

The Committee on Telecommunications chaired by Representative SAHEED AKINADE-FIJABI (APC, Oyo), said from the available records presented by some of the commercial banks, it appeared they charge two-naira-fifty-kobo extra from the approved stamp duty.

At an interactive session with officials of some of the banks, including Skye Bank, Guarantee Trust Bank, Access Bank, Keystone Bank, among others, the panel accused some of the banks of holding back the stamp duty without remitting same to government coffers.

However, representatives of the banks denied any wrongdoing in the transactions.

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