However, a check on the CBN directive to banks to begin charging stamp duties reveal the charge is in order. According to the circular dated January 15, 2016 stamp duties can only be charged in the account of the receiver regardless of whether the account is a savings or current account. However, stamp duty cannot be charged from an account that received funds transferred from a savings account. See below;

A court ruling in November had rendered the collection of stamp duties as illegal, however banks continue to charge.
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