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Ngozika drags FCMB to CBN over illegal deductions

*I am ready to drag them to court

Hon Ngozika Ihuoma, former member of the House of Representatives, has dragged First City Monument Bank (FCMB) to the Central Bank of Nigeria (CBN) over the continued deduction of stamp duty fees of N50.00. He is asking the Bank regulators to call the FCMB to order and refund the deducted funds.

Ladi Balogun FCMB GMD...may go to court over Stamp Duty
Ladi Balogun FCMB GMD…may go to court over Stamp Duty

In a one-page letter to the Director Consumer Protection department of the CBN, available to www.gongnews.net Hon Ngozika wrote: “May I use this opportunity to formally bring to your attention various infractions and disobedience to the orders of the CBN as it affects the deduction of N50.00 stamp duty fee on every deposit of N1,000.00 and above on customer’s current account.

In perpetuating the above fraud against my account, the bank has refused or failed and ignored sending debit alert to reflect such deductions but lump such deduction with withdrawals not reflecting the stamp duty fee on it.

I strongly believe such fraud done on my account must be affecting other customers of FCMB Plc.

In his prayers, Hon Ngozika asked that the CBN do investigate the continued deduction of N50.00 stamp duty fee by FCMB Plc in contravention of the apex bank directives;

The failure to notify me via debit card alert of such deduction not minding that I subscribe to payment for alert on my account;

The refund of every deduction fraudulently obtained from the said account via stamp duty fee.

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