Man Sends Legal Notice to Nigerian Bank Over N50 Account Deduction, Gets Reply
- A Nigerian bank customer lost N50 to a stamp duty charge after a failed N25,000 Sterling Bank transfer was reversed without the fee
- His lawyer, Festus Ogun, wrote to Sterling Bank on September 7, 2026, demanding an immediate refund or threatening legal action
- Sterling Bank responded within 24 hours, citing its banker/customer contract and the role of telecom providers in transfer failures
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Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
A Nigerian bank customer has recovered a N50 stamp duty fee from Sterling Bank after his lawyer stepped in with a formal legal demand, prompting the bank to act within a day.
Abdulrauf Adedeji Kazeem had attempted to transfer N25,000 from his Sterling Bank account, but the transaction failed.
Source: Getty Images
The bank reversed the N25,000 the following day, but did not refund the N50 stamp duty charge deducted at the time of the transfer.
Unsatisfied with the partial reversal, Kazeem engaged his lawyer, Festus Ogun of Festus Ogun Legal, who wrote to Sterling Bank on September 7, 2026.
The letter demanded the immediate return of the N50 and warned that legal proceedings would follow if the bank failed to comply.
Sterling Bank issues refund within a day
Sterling Bank responded on September 8, 2026, through its Litigation Unit, confirming that the charge had been reversed.
The bank wrote in its reply:
"Please note that the N50.00 stamp duty has now been reversed to your client's position account."
The bank also pointed to the terms outlined in its banker/customer contract, which customers receive as part of the account opening package.
It noted that electronic transfers and their reversals rely on telecommunications network providers and therefore "cannot be guaranteed at all times."
The letter closed with an assurance of the bank's "highest esteem" for the law firm.
The dispute centred on a relatively small sum, but the speed with which Sterling Bank moved after receiving the lawyer's letter highlights how formal complaints can lead to faster resolutions.
The refund of the N50 stamp duty brought the matter to a close.
Source: Facebook
"Re: Demand for immediate reversal of wrongfully withheld stamp duty on Mr. Abdulrauf Adedeji Kazeem's Alternative Bank account no:
We acknowledge receipt of your letter dated September 7, 2026, regarding the above subject.
Please note that the N50.00 stamp duty has now been reversed to your client's position account.
We further wish to draw your attention to the provisions of the banker/customer contract, as contained in the account opening package, which provide that electronic transfers and reversals, being dependent on telecommunications network providers, cannot be guaranteed at all times.
Please accept the assurances of our highest esteem."
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Earlier, Legit.ng reported the House of Representatives has initiated plans to investigate charges of commercial banks on customers' accounts and plans to summon the CBN and major commercial banks to appear before the committee on banking regulations.
The move followed the adoption of a motion of urgent public importance sponsored by Tolani Shagaya, a lawmaker from Kwara State.
The motion, titled “Need to Curb Arbitrary Bank Charges and Protect Nigerian Customers,” stated that the deductions from customers' accounts.
Source: Legit.ng
