Banks to Begin ₦50 Stamp Duty Charge on Electronic Transfers from January 1, 2026
Financial institutions will begin charging senders a ₦50 stamp duty on electronic transfers of ₦10,000 and above from January 1, 2026, following the implementation of provisions of the Tax Act. This was disclosed in notices sent by Nigerian banks to their customers ahead of the commencement of the policy. The stamp duty, also known as…