In case you are not aware, you either have so much not to notice unscrupulous deductions in your account or in the group of those who are yet informed on this stamp duty imposed by Federal govt. The stamp duty does not only include every money you receive, it also include every transaction you made via your current account.
The Centre for Global Solutions and Sustainable Development (CGSSD) strongly condemns the outrageous N50 stamp duty which the Federal Government through the Central Bank of Nigeria imposed on Nigerians for money received into their accounts. The order, if not reviewed, will not only worsen the poverty level in the country, it will also increase the burden on businesses and promote inequality.
It is true that there is no issue about the legality of this measure as it is backed by the Stamp Duty Act (2004), but there are concerns about its morality, timing and appropriateness at this moment when many Nigerians are already under terrible financial pressure, the implementation is an unfortunate flagrant disregard to the public outcry. Many Nigerians have not recovered from the drastic increase in the dollar rate which as of today amounts to N307 to $1, and in return has caused inflation in the country on all items, a time when the poor are still lamenting for the recent increase in price of electricity and kerosene.
Source: Punchng
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