Finance Act strips NIPOST of stamp duty collection ― FIRS

Federal Inland Revenue Service (FIRS), on Tuesday, clarified that the Finance Act 2020 has striped both Central Bank of Nigeria (CBN) and NIPOST of the responsibility for collection of stamp duty.

The explanation was contained in a reaction to a Monday tweet by the chairperson of the NIPOST Board, Mrs Maimuna Abubakar, accusing the FIRS of stealing NIPOST idea on stamp duty.

Abubakar who tweeted from @ref_ng had alleged that FIRS @firstNigeria stole its mandate as regards collection of stamp duty.

“I am worried for NIPOST, having sleepless night because of NIPOST, we need the general public to come to our aid, FIRS stole our mandate..#justicefornipost, she tweeted.

But, reacting to the allegation in a statement, Abdullahi Ismaila Ahmad, FIRS Director Communication & Liaison states thus: “The attention of the Federal Inland Revenue Service (FIRS) has been drawn to a tweet by Mrs Maimuna Abubakar, Chairperson of the Board of NIPOST.

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“Her indecorous tweet would not have deserved any response but for the sensitive nature of the issue at stake, which if not sensibly treated and promptly corrected would likely mislead the public.

“To be sure, NIPOST is a government parastatal established by Decree 41 of 1992 with the function to develop, promote, and provide adequate and efficiently coordinated postal services at reasonable rates.

“This function is clearly contrary to the claim by NIPOST over the administration of stamp duties in Nigeria.

“On the other hand, the FIRS is the sole agency of government charged with the responsibility of assessing, collecting, and accounting for all tax types including Stamp Duties.

“It is therefore shocking to us at the FIRS that such a privileged young lady who happened to be appointed to a high office would throw all caution to the air to cast aspersions on reputable public institutions like the National Assembly and the FIRS, which she accused of stealing NIPOST idea.

“This, to say the least, is a preposterous claim and great disservice to the government and people of Nigeria.”

He expressed “FIRS determination to ensure that all monies collected by NIPOST into its illegally operated Stamp Duties Account are fully remitted into the Federation Account but also make sure that any kobo not accounted for in that account is legally recovered in line with the charge of President Muhammadu Buhari to the recently inaugurated Inter-ministerial committee on the recovery of stamp duties from 2016 till date.

“In addition, anyone found culpable of misappropriating the funds in the said illegal NIPOST Stamp Duties Account would be made to face the law as provisioned by the country’s statute books.”

NIGERIAN TRIBUNE