Court orders CBN to pay firm N579bn for stamp duty arrears

Oct. 12, 2024 - TheCable

The amount comprises the judgment sum from January 1, 2015, to January 31, 2020, for Kasmal’s role in stamp duty collection. “Further remittances were made from the DMBs’ NIPOST stamp duties accounts to the 1st Defendant NIPOST Stamp Duty Collection Account No.

“Currently, a total of N3.8 trillion stands in the Stamp Duty Collection Account, ready for distribution among the Federal Government, State Governments, Local Governments, the Federal Inland Revenue Service (FIRS), Coordinating Consultants, and other bodies.

Advertisement“That the plaintiff’s 15%, amounting to N579,130,698,440, is part of the N3.8 trillion in the Stamp Duty Collection Account.

AdvertisementAkintola argued that only the federal, state, and local governments are entitled to share the revenue in the federation account...