Customer Recovers N50 Stamp Duty from Sterling Bank

Abdulrauf Adedeji Kazeem, a customer of Sterling Bank, faced an issue when a failed transaction of N25,000 resulted in a N50 stamp duty charge that was not refunded. After the bank reversed the N25,000 the following day but failed to address the stamp duty, Kazeem engaged his lawyer, Festus Ogun of Festus Ogun Legal.

On September 7, 2026, Ogun sent a formal legal notice to Sterling Bank demanding the immediate return of the N50 and warning of potential legal action if the bank did not comply. Sterling Bank responded promptly on September 8, 2026, confirming the reversal of the N50 stamp duty charge.

The bank's response included references to the terms in its banker/customer contract, explaining that transaction reversals depend on telecommunications network providers and cannot be guaranteed. The matter was resolved with the refund of the N50 stamp duty, demonstrating how formal complaints can expedite resolutions in banking disputes.