Sunday, January 24, 2016

N50 Stamp Duty Charge On Bank Customers

#SeriousMata #EconomicMatters

The Federal Government of Nigeria through the Central Bank of Nigeria CBN and the Federal Ministry of Financial recently imposed a STAMP DUTY CHARGE of N50 per transaction on Nigeria's bank customers per transaction.

This they stated is a part of the measures to boost the terrible economic situation of Africa's biggest economy.

You will recall that Nigeria which is thought to be Africa's biggest nation and a top exporter of crude oil is seriously passing through tough times due to the sharp and unabated drop in the price of crude oil per barrel. She is also frantically looking at exploring several other opportunities in Agriculture, Solid Minerals, Science and technology etc, to generate revenue for running the country.

Could this be one of the approaches to diversifying Nigeria’s economy, imposition of stamp duty charges on already suffering masses?

It's a #SeriousMata.

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