Access Bank reverses stamp duty deductions

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Access bank has said it would reverse the stamp duty charges on behalf of its customers which means deductions made between Saturday and Sunday would be reversed to customers.

Customers of the bank had complained on social media on Saturday and Sunday over stamp duty deductions.

The bank said it is aware that it is a tough period for customers In a statement on Sunday.

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.

See statement below;

Source: The Witness

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