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Do Nigeria Banks Have The Right To Retain 10% From A Deceased’s ? - Business - Nairaland 4i5k1u

Do Nigeria Banks Have The Right To Retain 10% From A Deceased’s ? (40271 Views)

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peacenaija(m): 4:12pm On Sep 10, 2020
Dear Nairalanders,

Trust we all keeping safe.

I really need clarification from bankers and experienced persons in the house. A friend of my lost her father recently and they have started receiving their father’s entitlement which was paid into the domiciled with a Nigerian bank operated by the deceased.

However, my friend’s mum lost their dad’s ATM, so they reported to the bank with the death certificate and requested for a new ATM or the money moved to another but the bank is now asking for a letter of istration and they will take 10% of the money left in the deceased .

My grouse is not the letter of istration but the 10% they are asking on another person’s entitlement. Is there any law backing this? How can we go about it because the money is a substantial amount?

I'd appreciate your advice and clarifications. Thanks

42 Likes 6 Shares

weyreypey: 4:14pm On Sep 10, 2020
Midoda!!
Dingbang
All ye bankers
Come and answer this question

7 Likes 1 Share

NwaNimo1(m): 4:16pm On Sep 10, 2020
In Naija......aka the zoo/shiithole, anything goes!

grab that moni whilst you can

39 Likes 2 Shares

Re: Do Nigeria Banks Have The Right To Retain 10% From A Deceased’s ? by Nobody: 4:17pm On Sep 10, 2020
No, they don't.

Write about it to the CBN, so far the deceased no owe dem any money.

183 Likes 13 Shares

majamajic(m): 4:18pm On Sep 10, 2020
Mine was worst , not even 10%

Let me sit here

8 Likes 1 Share

peacenaija(m): 4:20pm On Sep 10, 2020
BabaOwen:
No, they don't.

Write about it to the CBN, so far the deceased no owe dem any money.

I wonder oo, we will do as advised. Thanks

34 Likes 1 Share

Omihanifa: 4:23pm On Sep 10, 2020
The percentage varies from 5% to 10% depending on the State and it's going to be paid to the state government where the letter of stration is made and approved

121 Likes 6 Shares

peacenaija(m): 4:31pm On Sep 10, 2020
Omihanifa:
The percentage varies from 5% to 10% depending on the State and it's going to be paid to the state government where the letter of stration is made and approved

Okay, so what's the charge actually for? Which service have the provided? I'm sure that they will pay for the letter of istration when it's time to get it

16 Likes 3 Shares

BrighterMe: 4:41pm On Sep 10, 2020
lipsrsealed

1 Like 1 Share

bolaayenimo: 4:42pm On Sep 10, 2020
Nigerian banks are thieves. So if N1b was left in the , they will received 10 per cent of it. For what?

51 Likes 5 Shares

MalaikaEH(f): 4:54pm On Sep 10, 2020
Get the ninety percent first, then fight for the remainder if you really have the time, because the bank and state will surely make it a prolonged issue.

174 Likes 11 Shares

dingbang(m): 5:22pm On Sep 10, 2020
Wonderful. The only thing that is being debited from a deceased is search report which is not even based on % basis. I am just hearing this for the first time.

38 Likes 6 Shares

seniormallam(m): 5:35pm On Sep 10, 2020
Very true, going to the state government pox,
Baba just thank God, some stingy father's won't even let you know they have with such money then they'll now die suddenly, it's either one bank staff move the money or after 10years the money get moved to CBN.
Some men are stupid sha, how can you decide to dash government your life savings instead of disclosing your s to your wife or child even if they don't know the balance at least they have the number

132 Likes 9 Shares

IamWonderful: 5:37pm On Sep 10, 2020
Nigeria is where the bizarre are norms

8 Likes 2 Shares

AlfaSeltzer(m): 5:40pm On Sep 10, 2020
Lawyers need to pay rent. Get one.

9 Likes

elchariotlp: 6:36pm On Sep 10, 2020
Either the Staff that advised you is ignorant or you did not understand the advise given.

10% of the money is payable as Estate Fee to the Government. The sum is usually paid by the s (survivors of the deceased) before the Letter of istration is issued while in some states, the Court directs the Bank to deduct the 10% and remit it to the state while the Balance is made available to the s.

All that the Bank deducts averages 5k to 10k expanded in confirming the Letters of istration or Court Order from the Probate Registry or Court respectively.

220 Likes 28 Shares

YorubaKinging: 8:13pm On Sep 10, 2020
The end is near
Enn214(m): 8:14pm On Sep 10, 2020
wink

1 Like 1 Share

MorataFC: 8:14pm On Sep 10, 2020
Haaa
daddytime(m): 8:14pm On Sep 10, 2020
elchariotlp

Thanks for doing justice to the topic.

7 Likes

Felajack: 8:14pm On Sep 10, 2020
Yes
merieam16(f): 8:14pm On Sep 10, 2020
I av nothin to say...just ing by
MorataFC: 8:15pm On Sep 10, 2020
dingbang:
Wonderful. The only thing that is being debited from a deceased is search report which is not even based on % basis. I am just hearing this for the first time.

I'm hearing it for the first time too
ednut1(m): 8:15pm On Sep 10, 2020
To be remitted to the government.

1 Like

CalabarPikin: 8:16pm On Sep 10, 2020
Dpsychologist: 8:16pm On Sep 10, 2020
Banks are the smartest thieves
AFvckingAlpha(m): 8:16pm On Sep 10, 2020
The fvck
Niggarr!!

Nigerian banks and their plots to always subtly steal money from their customers.

I will scatter any bank that try shit with me.

They should go and ask the UBA in the Unilorin campus.

I did shege for the female bank manager.

2 Likes

alizma: 8:16pm On Sep 10, 2020
Pls when things like this happen, do us a favour by calling the bank's name in capital letter so that everyone will know which bank in Nigeria to avoid. Intact calling the bank name will help solve your problem than you think.
The idea of keeping things in secret is one of the problems we have in this country. You are more of an accomplice than a victim by keeping the identity of an evil organisation or person in secrecy
Just imagine suffering to save 10m and death struck, some set of thieves will sit under the acc to claim 1m that they didn't work for. Tomorrow they will declare profit as if they are hard working to have make such profit.
Executive arm robbers

139 Likes 10 Shares

Offpoint: 8:17pm On Sep 10, 2020
They tax all you all your lifetime and you still pay for dyinggrin

Interesting country.

11 Likes 1 Share

loadedvibes: 8:17pm On Sep 10, 2020
This is new
LaIabobo: 8:17pm On Sep 10, 2020
Yes, seek more clarification. The money is not for the bank but the government.

17 Likes

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