• Likes
  • Followers
  • Followers
  • Monday, June 9, 2025
  • Contact Us

NEWSCLICKNG NEWSCLICKNG - Most Development-Focused News Platform

  • News
  • Politics
  • Business
  • Sports
  • Education
  • Entertainment
  • lifestyle
  • Health
  • Arts & Culture
  • Technology
NewsclickNG
  • Home
  • Business
  • NIPOST denies operating illegal stamp duty account

NIPOST denies operating illegal stamp duty account

BusinessFeaturedNews
By Oluwadamilare Emmanuel On Aug 9, 2020
286
Share

The Nigerian Postal Service (NIPOST) has denied operating illegal stamp duty account.

It said only the Central Bank of Nigeria (CBN) operates the Treasury Single Account opened for stamp duty.

It described as false and a deliberate act of misinformation allegations from the Director of Communications and Liason of the Federal Inland Revenue Service (FIRS) Dr Abdullahi Ismaila, that NIPOST operates such account.

A statement by the General Manager, Corporate Communications of NIPOST, Franklin Alao, said the account being operated for stamp duty by the CBN was done in consultation with the Office of the Accountant General of the Federation.

According to him: “NIPOST wishes to reinstate that under the extant laws of Nigeria to wit 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.

Related Posts

US, China set to meet for trade talks in London

Jun 9, 2025

NiMet predicts three days of thunderstorms, rainfall…

Jun 9, 2025

US jails Nigerian five years for $2.5m fraud

Jun 9, 2025

“Historically, the Post in Nigeria, just like in the comity of nations, has at different times produced adhesive postage stamps and revenue stamps for the Federal Government. It is to this end that NIPOST seeks the proper implementation of the Finance Act.

“NIPOST is therefore taken aback when FIRS took to the twitter to call out the Chairman, NIPOST Board, Barrister Maimuna Yaya Abubakar, who only tried to bring the attention of the Service and public that NIPOST would be emasculated if the Act is not properly implemented.

“More so when there was a meeting between FIRS and NIPOST in July 2013 in the office of the Executive Chairman of FIRS and resolution reached that “NIPOST is statutory duty bound to provide the stamps to be used by FIRS at both federal and state levels.

“We wish to reassure members of the public that NIPOST as a responsible government institution has always operated within the ambit of the law.

“We therefore urge the general public to disregard the statement credited to the Director, Communication and Liaison, FIRS on the issue”.

NIPOSTStamp Duty Account
Oluwadamilare Emmanuel 21566 posts 0 comments

Prev Post

Only God can determine my successor in 2023 – Umahi

Next Post

Axa Mansard sells Pensions Subsidiary to Eustacia

You might also like More from author
News

US, China set to meet for trade talks in London

News

NiMet predicts three days of thunderstorms, rainfall nationwide

News

US jails Nigerian five years for $2.5m fraud

News

“People crying more than the bereaved,” Sanwo-Olu dismisses reported rift…

Prev Next
  • About us
  • Contact Us
  • Privacy Policy
  • Terms of use
  • Advertise with us
© 2025 - NewsclickNG. All Rights Reserved.
Website Design: DN