Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nigerian Stock Exchange  >  Access Bank Plc    ACCESS   NGACCESS0005

ACCESS BANK PLC

(ACCESS)
  Report
End-of-day quote. End-of-day quote Nigerian Stock Exchange - 07/06
6.2 NGN   -2.36%
07/05ACCESS BANK : Refunds stamp duty charges
AQ
07/05ACCESS BANK : Why stamp duty charges will not go away despite access bank's reversals
AQ
07/03ACCESS BANK : unveils Womenpreneur Pitch-a-Ton
AQ
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Access Bank : pays three-month Stamp Duty Charge for customers

share with twitter share with LinkedIn share with facebook
06/30/2020 | 05:31pm EDT

Access Bank Plc on Sunday concluded payment for a three-month Stamp Duty Charge for all its customers debited from February to April this year.

The affected customers had asked the bank to refund the charges to them, which the lender obliged.

In a statement, the bank said it decided to remit these funds via the Central Bank of Nigeria to the Federal Government on behalf of the affected customers because of the lateness in debiting the customers' accounts for the charge.

Access Bank said Stamp Duty Charge Collection is backed by law, and in compliance with the mandate of the 'Finance Act, 2019 (Stamp Duty Act, Cap S8).

The bank said: 'We are required by law to apply this charge as applicable and remit all funds collected to the Federal Government.'

The bank disclosed that it had inadvertently not charged stamp duty on some accounts from February to April 2020 as mandated by the Federal Government.

It said: 'However, we have heard our customers' feedback that this charge is unwelcome, especially at this time against a challenging economic backdrop.

'We have considered your feedback and have decided to pay the Stamp Duty on our customers' behalf for the affected period only.'

The bank further explained that all individual and Small and Medium Enterprises (SMEs) who were debited for the accumulated Stamp Duty Charge for February to April 2020, will be refunded.

Continuing, it said: 'While we still have to remit these funds via the CBN to the Federal Government, we realise that we got it wrong by debiting our customers late, and we are refunding the affected Stamp Duty Charge today to all affected customers.'

The bank advised customers with further enquiries on the issue to send email to it, thanking them for sharing their views on the matter.

© Pakistan Press International, source Asianet-Pakistan

share with twitter share with LinkedIn share with facebook
Latest news on ACCESS BANK PLC
07/05ACCESS BANK : Refunds stamp duty charges
AQ
07/05ACCESS BANK : Why stamp duty charges will not go away despite access bank's reve..
AQ
07/03ACCESS BANK : unveils Womenpreneur Pitch-a-Ton
AQ
07/03ACCESS BANK : Assessing Private Sector Intervention in COVID-19 Fight
AQ
06/30ACCESS BANK : pays three-month Stamp Duty Charge for customers
AQ
06/30ACCESS BANK : Why stamp duty charges will not go away despite access bank's reve..
AQ
06/30ACCESS BANK : Refunds Stamp Duty Charges
AQ
06/29ACCESS BANK : Reactions trail access bank stamp duty deduction
AQ
06/29STAMP DUTY CHARGE : Access Bank sends message to customers
AQ
06/29ACCESS BANK : to Reverse Stamp Duty Deductions, Pay On Customers' Behalf
AQ
More news
Financials
Sales 2020 436 B 1 135 M 1 135 M
Net income 2020 87 814 M 229 M 229 M
Net Debt 2020 - - -
P/E ratio 2020 2,43x
Yield 2020 9,87%
Capitalization 220 B 568 M 574 M
EV / Sales 2019
Capi. / Sales 2020 0,51x
Nbr of Employees 6 898
Free-Float 81,4%
Chart ACCESS BANK PLC
Duration : Period :
Access Bank Plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ACCESS BANK PLC
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 8,86 NGN
Last Close Price 6,20 NGN
Spread / Highest target 93,1%
Spread / Average Target 42,8%
Spread / Lowest Target -27,9%
EPS Revisions
Managers
NameTitle
Herbert O. Wigwe CEO, Executive Director & Group Managing Director
Ajoritsedere Awosika Chairman
Adeolu Bajomo Executive Director & Executive Director-IT
Oluseyi Kumapayi Chief Financial Officer
Miabiye Tonye Koko Chief Information Officer
Sector and Competitors