It is illegal to deduct #50 as stamp duty on teller deposits or electronic transfers of monies from #1,000 above, as ruled by the Federal High Court sitting in Asaba presided over by Hon. Justice (Dr.) Nnamdi .O. Dimgba in a case between Mr. Rupert Irikefe and CBN, Zenith Bank & Attorney General of the Federation.
This is contained in a Judgement of the Court delivered on Thursday, 9th day of December, 2020. By an amended originating summons filed on 15th day of October, 2020, the Plaintiff sought for 8 declarations against the Defendants. The Plaintiff also claimed the sum of #50 million as general damages and #50 million as exemplary damages. The Court awarded the cost of #500,000 in favour of the Plaintiff against the CBN and Zenith Bank.
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