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Access Bank To Refund 3 Months Stamp Duty Deductions To Customers

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Access bank Stamp Duty

Access Bank To Refund 3 Months Stamp Duty Deductions To Customers

Access bank trends on Twitter over the weekend for deducting Stamp Duty from its customers’ accounts, Access Bank Plc yesterday said it will be paying stamp duty fees on behalf of its customers for the period of February to April 2020.

Access Bank had last week notified its customers that it would be deducting the Stamp Duty charge which had accumulated between February and April this year in line with the Finance Act 2020 but the deductions had not gone down well with the customers of the bank.

Customers had taken to social media to vent accusing the bank of illegally making deductions from their account making the bank the top trending topic on Twitter from Friday till Sunday. In response to the multiple complaints, Access Bank had offered to pay the Stamp Duty charge for its customers.

In a statement that it issued on its twitter handle, Access Bank said “Earlier this week, we informed all our customers that we had inadvertently not charged stamp duty on some accounts from February to April 2020 as mandated by the Federal Government.

“Stamp Duty Charge collection is in compliance with the mandate of the ‘Finance Act. 2019 (Stamp Duty Act. Cap 58). We are required by law to apply this charge as applicable and remit all funds collected to the Federal Government.

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“However we have heard our customers‘ feedback that this charge is unwelcome, especially at this time against a challenging economic backdrop. We have considered your feedback and have decided to pay the Stamp Duty on our customers‘ behalf for the affected period only; This means all individual 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.

“We hope this gesture goes some way to make thls better and we would like to thank all our customers who reached out to us to share their views.”

An official of the bank told leadership.ng that the bank unlike its peers had held off the deduction of stamp duty and had wanted to make it easier for the customers by doing s one-off deduction. “It is not an illegal charge. The only thing on our part is that we did not do it like other banks, because ordinarily when you do a transaction we just charge you immediately but in our own case we push it till the end of the month.”

The official noted that henceforth, the bank would deduct charges for Stamp Duty alongside transactions.

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Naija News

Plateau begins trial of 300 suspected looters

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Looters

The Plateau State Government on Wednesday begun the prosecution of over 300 suspected looters and arsonists in the state.
They were accused of looting, criminal trespass and inciting public disturbance, among other charges.
The suspects, who had been in military and police detention after they were arrested in different parts of Jos and the Bukuru metropolis between Saturday and Sunday, were moved to the Bassa Local Government Area on Wednesday for arraignment.

The defendants were arraigned one after the other at Jebbu Bassa Area Court before several judges including Justices N S Dashe, Adar Roseline Baraje, and L B Longs as well as Lawal Sulaiman, among others.

In all the cases brought before the judges, the prosecutors from the state Ministry of Justice told the court that the accused persons committed the offences against the state and should be prosecuted according to the law.
The defence counsels, however, pleaded with the court to temper justice with mercy for the accused persons, particularly as they were first offenders.
The defence counsels also pleaded for short sentencing with an option of fine after their clients pleaded guilty to the offences.

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Customs Corner

Nigeria Customs office adamawa Under attack by hoodlums

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Suspected Hoodlums, on Monday, looted Adamawa Custom Office, the eye witness said hoodlums where seen in their numbers breaking anything that stand in their way, carting away consumable and non-consumable items.

 

residents of Lagos and Ogun state turn vigilantes  as hoodlums raids

nigeria customs checkpoint at agbara attacked by suspected hoodlums/

attack on akbc and facilities in uyo watch video

lagos task-force arrests hoodlums cultists seize motorcycles

 

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Naija News

NBC Fines Channels, AIT, Arise TV Over #EndSARS Coverage

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The National Broadcasting Commission, NBC, has sanctioned Africa Independent Television, AIT, Arise Television, and Channels Television for what it called a gross violation of the broadcast code, top of which is the use of unverifiable online video footages on social media.

The sanction, according to the Acting Director-General of the Commission, Armstrong Idachaba, will be a fine not less than two million Naira.

He warned that this will be the last warning before a heavier sanction will be introduced.

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The #COVID19Nigeria situation report for 21st July, 2020 has been published. Our daily reports provide a summary of the epidemiological situation & response activities in Nigeria

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