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We Will Refund Stamp Duties- Access Bank

OKEKUNKE SUNDAY, IBADAN

The bank stated on Sunday, that it has recognised that it is a tough period for their customers.

The bank’s customers has been complaining since Saturday and Sunday, using various social media platforms deductions of their money by the Banks which they referred to as stamp duty deductions.

“The Banks said they hope this gesture goes some way to make this better.”

In an earlier statement, the bank had notified customers that it did not deduct stamp duty charges on transactions that occurred between February 1, 2020, and April 30, 2020.

The 2019 finance act provides that bank customers pay a N50 stamp duty charge on every N10,000 deposit.

“We have considered your feedback and have decided to pay the stamp duty on our customers’ behalf for the affected period only,” the bank said in a statement.

“This means that individuals and SMEs who were debited for the accumulated stamp duty charge for February to April 2020 will be refunded.

“While we still have to remit these funds via the CBN to the federal government, we realise that we got it wrong by debiting our customers late, and we are refunding the affected stamp duty charge today to all affected customers.

Also stated that the deductions made between Saturday and Sunday would be reversed to customers.

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