NAIJA_Wait, we will now pay N50 to FG every time we receive money in our account?

The Federal Government has imposed a stamp duty of N50 on bank
customers for money received into their accounts. This implies that
every bank customer will henceforth pay N50 stamp duty for money
received into their accounts through electronic transfer, cash and
cheques.

This directive
was contained in a circular to all Deposit Money Banks and Other
Financial institutions titled, “Collection and Remittance of statutory
charges on receipts of Nigeria Postal Service under the Stamp Duties
Act”.

The circular in part reads

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