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Stamp Duty War: NIPOST Tackles FIRS Again

Published by on August 9th, 2020.


The Nigeria Postal Service (NIPOST) has said the Federal Inland Revenue Service (FIRS) lied about NIPOST’s stamp duty account with the Central Bank of Nigeria (CBN).

NIPOST’s General Manager Corporate Communications, Franklin Alao, said in a statement on Sunday that the NIPOST’s account with the CBN was duly opened for the purpose of stamp duty and was not illegal.

“Nigerian Postal Service (NIPOST) attention has been drawn to a publication by the Federal Inland Revenue Service (FIRS) that NIPOST operated an illegal stamp duty account.

According to the publication, the Director of Communication and Liaison of FIRS made the statement in a series of tweets. “We hereby state categorically that the statement is false and was made to misinform and mislead members of the public,” Alao said.

He said the account the Director of Communication of FIRS made reference to as “illegal” was opened by the Central Bank of Nigeria under the Treasury Single Account (TSA) in consultation with the office of Accountant General of the Federation, in the name of NIPOST Stamp Duties Collection Account when CBN gave instruction to Deposit Money Banks (DMB) to commence the deduction of #50 stamp duties from bank customers accounts.

He said: ” The account belongs to the Federation and NIPOST does not have access to whatsoever monies lodged into the account, as such the question of illegality and misappropriation does not arise.”

He reinstated that NIPOST Act 2004 provides and vest solely in NIPOST the power to print adhesive postage stamps, which is the instrument for denoting documents and other transaction instruments in compliance with the provisions of the Stamp Duties Act.

https://www.dailytrust.com.ng/stamp-duty-war-nipost-tackles-firs-again.html

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