Nigerians vent fury over perceived double stamp duty charges since January 1, 2026, as banks slap N50 fees on transfers above N10k – senders now footing the bill per new Tax Act rules, while recipients gripe old levies linger in statements sparking "double dip" cries. UBA, Access, and others shifted the Electronic Money Transfer Levy (EMTL) to "stamp duty" nomenclature, exempting salaries and self-transfers, but customers flood X decrying dual deductions amid Tinubu's fiscal squeeze post-NGX N745bn highs and ALAT upgrades. Finance Ministry stays silent as blogs tie grumbles to transparency gaps, with some banks allegedly layering legacy charges atop new sender hits despite CBN vows for seamless cashless shifts.
The N50 flat fee on N10k+ electronic receipts aims revenue boosts sans percentage hikes, but streets roast "tax overload" clashing with women affairs N154b budget balloons and EFCC clean-slate dares. X erupts #EndDoubleDuty vs. bank clarifications promising one-offs, opposition like Tambuwal's poll-rig blasts fueling anti-graft vibes. Naija wallets weep, reforms reel – single levy or stealth double? Banks face boycott buzz.