Section 34 Stamp Duties Act

Section 34 of Stamp Duties Act 1939 is about Meaning of “banker” and “bank note”. It provides as follows:

For the purposes of this Act, the expression “banker” means any person carrying on the business of banking in Nigeria and the expression “bank note” includes-

(a) any bill of exchange or promissory note issued by any banker for the payment of money not exceeding two hundred naira to the bearer on demand; and

(b) any bill of exchange or promissory note so issued which entitles or is intended to entitle the bearer or holder thereof, without endorsement or without any further or other endorsement than may be thereon at the time of the issuing thereof, to the payment of money not exceeding two hundred naira on demand, whether the same be so expressed or not and in whatever form, and by whomsoever the bill or note is drawn or made.

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