Tax laws: Nigerians grumble over double stamp duty charges by banks
Nigerians have begun raising concerns over what they describe as double stamp duty charges by banks, just days after the new tax laws took effect. The policy introduced a uniform ₦50 stamp duty charge on electronic transfers of ₦10,000 and above, and banks notified customers about the new deductions through emails and alerts. However, many […]
Bank Customers Weigh Options Over Hike In SMS Alert Charges
Many bank customers in Nigeria are unhappy with the latest increase in SMS alert fees. From May 1, 2025, banks started charging ₦6 per SMS alert instead of the previous ₦4. Banks say this is because telecom companies have raised their prices by 50%, and they are passing the cost to customers. Nigerian bank users […]
CBN Increases ATM Withdrawal Charges to N100, N450
The Central Bank of Nigeria (CBN) has raised the charges for ATM withdrawals, meaning customers will pay more when using ATMs, especially at other banks. According to a circular signed by John Onojah, the acting director of the financial policy and regulation department at CBN, the new charges will begin on March 1. Here’s a […]