By Omodele Adigun

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In a move that may pit customers against banks, Deposit money banks (DMBs) have alerted their customers of their plan to deduct two months arrears of stamp duty this month.
According to a text message from one of them on Wednesday, they are set to deduct stamp duty for transactions carried out in December 2016 and January 2017 in May 2017.
They attributed the move to a circular from the Central Bank of Nigeria (CBN),
The message read: “Following CBN directive, please note that we will be retrieving stamp duty on all your Dec 2016 and Jan 2017 transactions.”
An online newspaper quoted Mr Isaac Okorafor, the acting Director of Corporate Communications of the CBN, said the directive was as a result of a court order.
“It is in compliance with the order of a court,” Okorafor was quoted as saying.
Recall that The apex bank recently said the Stamp Duty was not suspended alongside the new charges on Cashless Policy.
According to its Director of Banking & Payments System Department, Mr Dipo Fatokun, the suspension of the nationwide implementation of the excess withdrawal/deposit processing charges has nothing to do with the Stamp Duty charged by bank for money received into the accounts of their customers’ via electronic transfer, cash and cheques..
An official of the bank had earlier told Daily Sun that the Stamp Duty is charged on deposits only, whether it is above the threshold or not. He was  reacting to enquiry on customers’ complaints of multiple deductions of Stamp Duty on their accounts.This was misconstrued as the cashless policy charges.
And since the nationwide implementation of the excess withdrawal/deposit charges  is suspended, it is natural to think that the Stamp Dutywould also affected.
But replying to Daily Sun enquiry, Fatokun explained via an e-mail that both Cashless Policy and Stamp Duty are “ two different policies and they have nothing to do with each other.”
Another school of thought had reasoned that the suspension of the charges might not be unconnected with the Court of Appeal ruling on the Stamp Duty in a suit between Kasmal International Services Limited and Access Bank Plc.
It was reported by News Agency of Nigeria (NAN) that, the ruling on April 21 2016, the Court of Appeal directed an end to the deductions, describing it as illegal. The Director General of the Nigeria Employers’ Consultative Association(NECA),Mr. Segun Osinowo, said CBN had failed to comply with the ruling.
According to Oshinowo, the deduction did not only affect corporate bodies but all Nigerians, including the vulnerable.
”NECA and organised businesses had opposed attempts by the Nigeria Postal Service to compel companies to affix a N50 postal stamp on all receipts, invoices and documents evidencing transaction of N1, 000 and above.
”NECA had also kicked against the CBN directive to banks based on its illegality and in the light of a pending litigation in the court on the matter,” he said.
The director-general said that it was worrisome that the apex bank had refused to comply with the ruling in the matter between Kasmal International Services Ltd. and Access Bank and 23 others.