Nigerians on social media have been reacting in different ways to the compulsory N50 Stamp Duty Charge imposed on bank customers by the Central Bank of Nigeria.
The Stamp Duty has been proposed by the Federal Government as a means of generating revenue from non-oil sectors. However, some Nigerians believe that this is another one of the Government’s scam.
There is growing concern, especially amongst Nigerian social media users, that the money generated from this Stamp Duty will not be put to judicious use.
The reason for these concerns are understandable as Nigeria has been plagued by corruption in recent years. It was reported earlier this week that 55 Government officials made away with about 1.3 trillion Naira between 2006 to 2013. Such reports have stirred up doubtful thoughts in Nigerians.
However, some Nigerian users on Facebook were supportive of the Stamp Duty. They are glad the Government is seeking other ways to generate revenue for the country. They also expressed hope that the money generated will be used to perform Capital Projects and not just to service recurring expenses.
Meanwhile the Central Bank Governor has come under serious criticism regarding the depreciating currency and economic challenges. Only recently, a former member of House of Representatives, Bamidele Faparusi, called for the immediate removal of the CBN Governor.
