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GLOBAL DAY PRAYER

The commercial banks have been deducting the sum of N50 on every deposit with a value of N1,000 and above since January



“The commercial banks have been deducting the sum of N50 on every deposit with a value of N1,000 and above since January 2000.



“At the moment, the total sum of N33bn had been realised through the collection of stamp duties, which falls far below the expectation of stakeholders. It is expected that at the end of the exercise, over N100billion will be recovered.



“The commission has concluded arrangements to engage the services of reputable forensic audit firms to carry out the probe of the banks. The probe will be comprehensive as it will cover the affixed stamp used on cheque books prior to the introduction of electronic transactions.”



Click to read full news: Saharareporters

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