What Is Stamp Duty? How Does It work?
Stamp Duty in Nigeria: What It Is, How It Operates & Essential Information (2026) Stamp duty is a significant yet frequently misinterpreted government fee in Nigeria, impacting various daily financial transactions, particularly electronic money transfers. With upcoming changes set to take effect in January 2026, it’s vital to grasp the concept of stamp duty, its implications for you, and how it differs from standard taxes. What Is Stamp Duty? Stamp duty is a governmental charge levied on specific financial transactions and documents to render them legally binding and enforceable. It falls under the purview of the Stamp Duties Act in Nigeria, which outlines the regulations and documents that are subject to this charge. Historically, stamp duty has been applied to various written and printed instruments, including: • Agreements and contracts • Receipts and promissory notes • Documentation related to property and loans • Share certificates and insurance policies What Sta...