Justice Inyang Ekwo of the Federal High Court in Abuja has ordered the Central Bank of Nigeria (CBN) to pay Kasmal International Services N579,130,698,440 with 10 per cent interest per annum for its role in stamp duty collection.

The interest will apply from January 1, 2015, to January 31, 2020.

Kasmal, through Alex Izinyon, their lawyer filed the suit against the CBN and the Attorney General of the Federation, arguing that the Nigerian Postal Service had appointed them to collect a N50 fee on all receipts issued by banks or financial institutions for services related to electronic transfers and teller deposits of N1,000 and above.

This appointment was in line with the Stamp Duties Act and the Nigerian Financial Regulations of 2009.

The lawyer added that the terms of the agreement between NIPOST and the plaintiff included the remuneration of N7.50 from every N50 deduction of which his client’s percentage has not been fully paid as agreed.

The court document read, “The plaintiff has become aware through public disclosures by the Governor of the CBN that after the initial payment of N10.367 billion to the plaintiff, which did not reflect the total value of all accrued deposits that ought to have been paid into the 1st Defendant NIPOST Stamp Duty Collection Account No. 3000047517 from January 1, 2015, to January 31, 2020, further remittances were made from the DMBs’ NIPOST STAMP DUTIES ACCOUNTS to the 1st Defendant NIPOST Stamp Duty Collection Account No. 3000047517 in the tune of over N370.7 billion, which were amounts that accrued within the period from January 1, 2015, to January 31, 2020.

“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.

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

“The defendants/respondents have started taking steps to disburse and transfer the whole of the N3.8 trillion in the Stamp Duty Collection Account without consideration of the outstanding payments due to the plaintiff.”

The plaintiff prayed by the Court to issue “an order directing the 1st and 2nd Defendants to pay the plaintiff the sum of N579,130,698,440 or any other sum as may be adjudged by this Court upon the production of the records relating to the collection of stamp duty between January 1, 2015, and January 31, 2020, representing 15% of all accrued deposits paid into or which ought to have been paid into the CBN NIPOST Stamp Duty Collection Account No. 3000047517 by all Deposit Money Banks.

“An order directing the 1st (CBN) and 2nd Defendants to pay the plaintiff an interest payment of 10% per annum on the sum of N579,130,698,440 or any other sum as may be adjudged by this Court upon the production of the records relating to the collection of stamp duty between January 1, 2015, and January 31, 2020, representing 15% of all accrued deposits paid into or which ought to have been paid into the CBN NIPOST Stamp Duty Collection Account No. 3000047517 by all Deposit Money Banks (DMBs).”

The lawyer earlier asked the court to restrain the 1st and 2nd Defendants, either by themselves, agents, privies, assigns, or whatsoever called, from disbursing, distributing, transferring, depleting, or doing anything whatsoever with all accrued deposits paid into or which ought to have been paid into the CBN NIPOST Stamp Duty Collection Account by all DMBs pending the hearing and determination of the case.

In their preliminary objection to the suit marked FHC/ABJ/CS/335/2024, the Attorney General of the Federation and the Apex bank through Chief Adeniyi Akintola (SAN), their counsel, told the court that the agency contract the plaintiff allegedly had with NIPOST is illegal.

Akintola argued that only the Federal, State, and Local Governments are entitled to share the revenue in the Federation Account.

He said the purported appointment of the plaintiff by NIPOST was void from the onset because stamp duty charges on bank transfers and deposits are a tax that is exclusively administered by the Federal Government through the Federal Inland Revenue Service.

He contended that NIPOST is not the revenue collection agency for stamp duties and hence has no authority to appoint the plaintiff to represent it as a collection agent for the Federal Government.

Furthermore, he stated that NIPOST lacks the powers to appoint the plaintiff as a revenue-generating collector concerning stamp duty, thus rendering the legitimacy of the underlying contract faulty.

He referred the court to a subsisting judgment which did not bind the CBN to any contract deals between NIPOST and the plaintiff.

He also urged the court to dismiss the case, criticising the plaintiff for not joining NIPOST as a defendant in the matter.

The lawyer urged the court to hold that it is the responsibility of the Accountant General of the Federation to disburse, distribute, allocate, or transfer all such accrued revenues in the Federation Account.

He said, “The non-joinder of NIPOST, which purportedly appointed the plaintiff as a collection agent, robs the Honorable Court of the requisite jurisdiction to entertain the claims as presently constituted;

“The purported agency contract between NIPOST and the plaintiff, which is the basis for the plaintiff’s authority, is not placed before the court; hence the court cannot give effect to the said agency contract merely because it was mentioned in passing in paragraph 5(e) of the plaintiff’s affidavit in support of the originating summons.”

“The revenue being challenged belongs to the entire Federation, the collection and remittance of which goes to the Federation Account, and any amount standing to the credit of the Federation Account can only be distributed among the Federal, State, and Local Government Councils in each State. The court lacks jurisdiction to entertain this suit in relation to sharing the said money in the Federation Account.”

“The Stamp Duties Act makes no provision for the delegation of the collection of stamp duties by any other body other than NIPOST under the NIPOST Act, and subsequently, the said stamp duties relate only.”

Justice Ekwo while delivering judgment in the suit, held that the submission of the CBN and AGF that NIPOST lacks the statutory power to collect stamp duties and that the agency agreement entered into with the plaintiff does not hold water.

The judge noted that a previous judgment concerning stamp duty that favoured the plaintiff is still subsisting and has not been overturned by a higher court.

Ekwo held that the submission of the CBN and the AGF that the reliefs sought by the plaintiff in the suit cannot be granted, as all revenues accruing to the Federation, including the stamp duties, the subject of this matter, are remitted into the Federation Account, which can only be distributed among the tiers of government as provided in the Constitution, is incorrect.

He held that the CBN had paid the plaintiff the sum of N10.3 billion, representing 15% of remitted stamp duty by all Deposit Money Banks between January 1, 2015, and January 31, 2020, from the CBN NIPOST Stamp Duty Collection Account No. 3000047517.

“I find at the end that the CBN and AGF have not effectively controverted the case of the plaintiff, and the plaintiff, having made a credible case, ought to succeed on the merit, and I so hold.

“It is my opinion that this case is predicated on the fact that the 1st and 2nd Defendants have had transactions with the plaintiff before by paying the plaintiff the sum of N10.3 billion, being 15% of remitted stamp duty,” he said.

Justice Ekwo proceeded to grant the reliefs of the plaintiff, while he ordered the Apex bank to pay over N579bn with associated interest within the stipulated period.

Zenith Bank, one of Nigeria’s foremost financial institutions, has successfully restored full operational services across its electronic transaction channels, ensuring that customers can now enjoy seamless access to digital banking services.

This restoration follows temporary disruptions caused by a routine upgrade of the bank’s technology infrastructure, which aimed to optimize service delivery but impacted e-channel services recently.

In a post shared on Thursday through its social media platforms, the leading lender confirmed that all services across its electronic channels have been fully reinstated.

Reiterating its commitment to providing quality digital services, the bank assured customers of exceptional service with its newly enhanced technology infrastructure, designed to deliver seamless and innovative financial solutions.

The announcement stated: “We are pleased to inform you that access to our digital channels has been restored, allowing you to perform transactions conveniently via your preferred platform.

“We appreciate your patience during the IT infrastructure upgrade and sincerely apologize for any inconveniences you experienced.

“Rest assured, we are dedicated to providing you with exceptional service, and the new IT infrastructure we have implemented will enable us to do so moving forward.

“Thank you for choosing to bank with us.”

Federal Inland Revenue Service (FIRS), has launched an Unstructured Supplementary Service Data (USSD) Code *829# specifically targeted at improving taxpayers’ satisfaction.

This is in a bid to enhance ease of doing business, according to Zacch Adedeji, chairman, FIRS who launched the code at the Revenue House in Abuja as part of activities making this year’s Customer Service Week which has the theme Above and Beyond.

The initiative makes Nigeria the sixth African country to deploy USSD code for simplifying tax payment processes.

A statement by Dare Adekanmbi, special adviser on Media to the FIRS chairman said taxpayers on any mobile telecommunication network in the country can now get across to FIRS real-time on issues relating to retrieval of Taxpayers Identification Number (TIN), verification of Tax Clearance Certificate (TCC), information on tax types and rates, locate the nearest FIRS office, and as well as get answers to general tax-related inquiries.

Speaking at the ceremony, Adedeji said the instant messaging protocol demonstrated further commitment of the agency to simplifying tax administration and ensuring that “every taxpayer—whether in bustling cities or remote areas—can engage with FIRS seamlessly.”

He called on taxpayers to enjoy the benefits tat the USSD code offers and utilise the code for all their enquiries.

“With the *829# USSD code, taxpayers now have the power to: retrieve their Taxpayer Identification Number (TIN), verify their Tax Clearance Certificate (TCC), access information on tax types and rates, locate the nearest FIRS office, and get answers to general tax-related inquiries.

“Without the need for internet access, all of these services are now available with a simple mobile phone. This technological leap reflects our dedication to creating a tax system that is efficient, transparent, and responsive to the needs of taxpayers”, he said.

The agency also launched Customer Centricity Guide, a booklet containing policies, processes and procedures to ensure that FIRS keeps the taxpayers in their rightful position as ‘kings.’

“Equally important is the unveiling of the Customer Centricity Guide. This guide embodies our commitment to putting taxpayers at the centre of our service delivery.

“It outlines the principles and values that will drive our interactions with taxpayers by ensuring that every engagement is defined by respect, professionalism, and efficiency.

“The guide serves as a reminder to us all that the taxpayer is not just a client, but a valued partner in nation-building. Through the combination of the *829# USSD code and the Customer Centricity Guide, we are reinforcing a culture of service excellence and making tax compliance not just a duty but an experience that fosters trust and voluntary participation.

“As we celebrate this achievement, I encourage everyone to make full use of the *829# service and embrace the Customer Centricity Guide. Your feedback will be crucial as we continue to enhance these services and meet the evolving needs of our taxpayers,” he said.

Nnenna Akajemeli, national coordinator of Servicom, praised the effort of the FIRS towards taxpayers’ satisfaction, noting that the efforts are evident.

“There are many things to congratulate the FIRS on. One is the launch of the USSD code *829# and the customer centricity guide. These initiatives which are simplifying tax and ensuring that citizens and taxpayers are delighted at the quality of service you render,” she said.

Loveth Onanuga, director, Taxpayers’ Service Department,  FIRS, noted the agency recognized that customer-centricity means more than just satisfying customers’ basic wants, but also going “above and beyond what customers anticipate and astonishing them with great service” in line with the theme of the week.