March 28, 2024

The Federal Government has directed that all banks remit stamp duty on all loans.

This is contained in a message sent by the banks to customers.

“In line with this directive, 0.375% on every principal loan amount disbursed will be debited and remitted to the Federal Government.

“However, all existing approved loan remain unchanged and are to be fully repaid in line with the terms and conditions”, the message further reads.