NIPOST at odds with FIRS, says its stamp duty collection account is legal

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The Nigerian Postal Service (NIPOST) has responded to claims by the Federal Inland Revenue Service (FIRS) that it operates an illegal stamp duty account.

In its denial of the FIRS submission, NIPOST characterized the allegations as false and intended to misinform and mislead members of the public.

This disclosure was made through a series of tweet posts from NIPOST via their official Twitter account on Saturday August 9, 2020.

NIPOST in its statement disclosed that the account was opened by the Central Bank of Nigeria (CBN) under the Single Treasury Account (TSA) in consultation with the Office of the General Accountant of the Federation, on behalf of the duty collection account NIPOST stamp duty when CBN has instructed the Depository Banks (DMB) to begin deducting N50 stamp duty on bank customer accounts.

NIPOST’s statement reads, ”The attention of the Nigerian Postal Service (NIPOST) was drawn to a Federal Inland Revenue Service (FIRS) publication that NIPOST was operating an illegal stamp duty account. According to the publication, the FIRS communications and liaison director made the statement in a series of tweets. ”

“We categorically state that the statement is false and was made to misinform and mislead members of the public.”

The account which the FIRS Communications Director described as illegal was opened by the Central Bank of Nigeria under the Single Treasury Account (TSA) in consultation with the Federation’s General Accountant’s Office on behalf of NIPOST Stamp Duties Collection Account when the CBN has instructed Depository Banks (DMBs) to begin deducting Stamp Duty # 50 on bank customer accounts. ”

The account belongs to the Federation and NIPOST does not have access to any sum of money deposited in the account, as such the question of illegality and embezzlement does not arise.

Going further, NIPOST reaffirmed that under the laws in force in Nigeria, the NIPOST Act of 2004 only confers and confers on NIPOST the power to print adhesive postage stamps, which is the instrument for designating documents and other instruments of transaction in accordance with the provisions of the Stamp Duty Law.

NIPOST indicated that it was seeking the proper implementation of the finance law. and was therefore surprised when the FIRS used the tweeter to call the chairman of the board of directors of NIPOST, lawyer Maimuna Yaya Abubakar, who has just drawn the attention of the service and the public to the fact that the agency would be emasculated if the law was not properly enforced.

The statement recalled that during a meeting between FIRS and NIPOST in July 2013 in the office of the Executive Chairman of FIRS, it was decided that NIPOST is legally obliged to provide the stamps to be used by FIRS at levels federal and state. .

It may be recalled that there was an ongoing dispute between FIRS and NIPOST over who should be the stamp duty collection agency.

The president of the board of directors of NIPOST, Hajiya Maimuna Abubakar, had said in an interview that the FIRS and the National Assembly took up the ideas of NIPOST on the stamp duty excluding the postal service.

In its response, the FIRS, while denying such claims, said that the FIRS is the only federal government agency responsible for assessing, collecting and accounting for all types of taxes, including stamp duties.

It indicates that NIPOST is a government body created by Decree 41 of 1992 with the function of developing, promoting and providing adequate and effectively coordinated postal services at reasonable rates.



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