JUST IN: Access Bank To Reverse Stamp Duty Deductions For Two Months

Access Bank on Sunday said it would be liable for the payment of stamp duty charge for February to April.

The bank in a statement on Sunday said it’s taking the burden of the two months stamp duty charge off customers.

The financial institution also said deductions made between Saturday and Sunday would be reversed to customers, adding that it was not oblivious of the fact that this period is a tough one for customers.

The development is coming against the backdrop of outrage by the bank’s customers on social media on Saturday and Sunday over what some of them described as arbitrary deductions of stamp duty charges.

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.

More to follow…