More Grief For Account Holders As CBN Quietly Extends Payment Of Stamp Duty To Savings Accounts In Attempt To Increase Govt Revenue

Details available have it that saving accounts holders now pay the controversial N50 stamp duty formerly restricted to current accounts.

According to information available it is not clear when the contentious deduction was extended.

Information monitored on news platform Punch indicates the move aimed at shoring up government revenue was quietly done.

It means the savings accounts holders now share in the grief of having N50 deducted

from each deposits made into the accounts with a value of N1,ooo and above by a third party in attempts to increase government revenue.

The deduction was initially restricted to current accounts.