30 results
- 31 Aug 2009
Nipost Parleys Anco on Stamp Duty Enforcement
The Nipost Implementation and Monitoring Team is liaising with the Association of Nigeria Courier Operators (Anco) on effective implementation of stamp Duty Act by Nipost. The Stamp Duty Act makes it…
- 24 Sept 2023
Stamp Duty Is Revenue Stamp, Not Postage Stamp, LIRS Chief Clarifies
Mr Tokunbo Akande, Special Adviser to the Executive Chairman of the Lagos State Internal Revenue Service, LIRS, has clarified the misunderstanding about stamp duty as he maintained that it is a…
- 18 Dec 2019
NIPOST Insists on Collecting Stamp Duty
The collection of stamp duty is the statutory duty of Nigerian Postal Service (NIPOST), as clearly stated in the Stamp Duty Act, according to Bisi Adegbuyi, post master general/ chief executive…
- 12 May 2020
Nigerians Cry out as Banks Deduct Stamp Duty on Transactions
Banks may have added to the worry of Nigerians who are already struggling to make out a living during the period of COVID-19 crisis as payment of stamp duty takes effect. The Finance Act, 2019…
- 2 Apr 2019
RMAFC to Probe Banks over Stamp Duty Collections
Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has secured the approval of the National Economic Council (NEC) to probe banks over the collection of stamp duties, an investigation has…
- 3 May 2024
Banks to Charge 0.375 Percent Stamp Duty on Loans
Nigerian banks on Thursday announced that they will kick-start the implementation of the stamp duty charge of 0.375 per cent on loans backed by legal mortgages, shares, debentures or bonds. This is…
- 12 Sept 2017
SBH Raises Alarm over Non-Remittance N20trillion Deducted as Stamp Duty
Stamp Duty charges on bank transactions believed to have yielded N20trillion have developed wings and School of Banking Honours (SBH) has raised alarm, according to Nation. Federal government through…
- 14 Apr 2017
Court Stops NIPOST from Collecting N50 Stamp Duty
The Federal High Court in Abuja, yesterday, stopped the Nigerian Postal Services (NIPOST), from further collecting N50 on stamp duty. The court held that such revenue drive by NIPOST does not enjoy…
- 19 Feb 2016
Banks Collect, Hold onto Stamp Duty Money- NIPOST
Enoch Ade Ogun, acting post master general /Chief executive officer of Nigerian Postal Service , has said the stamp duty money being collected by commercial banks is not remitted to the federal…
- 2 Jul 2020
FIRS Says Rent Agreement, C of O, Others Must Carry Stamp Duty
Federal Inland Revenue Service (FIRS) has said that henceforth, stamp duty will be paid on house rent and Certificate of Occupancy (C of O) in line with its new adhesive duty. Mr Abdullahi Ahmad,…
- 5 Oct 2021
FG Rakes in N127.04Bn from Stamp Duty– CITN
Chartered Institute of Nigeria (CITN) said, the federal government (FG) has collected N127.04 billion as revenue from stamp duty between January 2015 and July 2020. It said, stamp Duty is an…
- 11 Oct 2024
Court Orders CBN to Pay Kasmal N579Bn for Role in Stamp Duty
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…
- 13 Dec 2020
Court Declares Banks’ Stamp Duty Charges Illegal
A Federal High Court in Asaba has declared as unlawful, illegal, null and void the deduction of the sum of N50 as Stamp Duty charges from the accounts of commercial bank customers in the country. The…
- 29 Mar 2016
FG to Net N2.5trn from Stamp Duties This Year
Federal government has projected an accrual in excess of N2.5 trillion from payment of Stamp Duties from the financial services industry in 2016 as outlined by the Central Bank of Nigeria. A…
- 6 Nov 2019
FG to Rake in N1.5Bn Monthly from Stamp Duty on PoS
Federal Government is to realise at least N1.5 billion monthly from the implementation of N50 stamp duty charges on transactions carried out via Point of Sales (PoS)) terminals. This is based…
- 17 Mar 2021
FIRS Dismisses Pantami, Insists NIPOST Not Authorised to Collect Stamp Duty
Federal Inland Revenue Service (FIRS) has maintained that the collection of stamp duty collection in Nigeria was still under its purview. The agency described as false publications in some newspapers…
- 7 Jan 2013
Nipost’s N50 Stamp Duty on Bank Transaction Raises Dust
Nigerian Postal Service (Nipost) is introducing N50 stamp duty on every bank transaction that is above N1, 000 in move bound to raise some dusts. Already in the stock market, stockbrokers claim that…
- 10 Dec 2019
Senate Asks CBN to Account for N20Trillion Collected as Stamp Duty
Senate has mandated its Committee on Finance to investigate the non-remittance of over N20 trillion into the Federation Account by Central Bank of Nigeria (CBN), an amount collected as stamp duties…
- 11 Apr 2019
CBN, NIPOST Defrauding Nigerians with Stamp Duties- NECA
Nigeria Employers’ Consultative Association (NECA) has called on the federal government to impress on the Central Bank of Nigeria (CBN) and the Nigerian Postal Service (NIPOST), to respect valid…
- 30 Dec 2016
NIPOST Submits Fresh Bill for Stamp Duty Amendment
The Nigerian Postal Service (NIPOST) has proposed a fresh Bill for the amendment of stamp duty Act. The new bill submitted to the National Assembly, Nigeria CommunicationsWeek gathered, is for the…
- 6 Jan 2026
Senders Now to Pay N50 Stamp Duty – GT Bank
GTBank has reminded customers of the new stamp duty rules under the Nigeria Tax Act 2025, which take effect from January 1, 2026. According to an email received by a GT Bank customer on Tuesday,…
- 25 Apr 2019
Reps Probe NIPOST, CBN over Stamp Duties Collections
House of Representatives on Thursday resolved to investigate the Nigerian Postal Services (NIPOST), the Central Bank of Nigeria (CBN) and commercial banks over allegation of unremitted stamp duty…
- 25 Sept 2017
Customers to Sue Banks over Stamp Duty Collections
Stakeholders have called on the Central Bank of Nigeria (CBN) to withdraw its circular mandating banks to collect stamp duties from customers’ bank accounts, stressing that such directive and…
- 14 Aug 2020
Reps Move to Settle FIRS, NIPOST Rift over Stamp Duty
House of Representatives has offered to play the role of a mediator in the ongoing feud between the Nigerian Postal Service (NIPOST) and the Federal Inland Revenue Service (FIRS) over collection of…
- 28 Jun 2020
Access Bank to Refund Stamp Duty Charges to Customers
Access Bank has offered to reverse the stamp duty charges paid by its customers from February to April. It also said deductions made between Saturday and Sunday would be reversed to customers. In a…
- 11 Mar 2020
Banks Slam Charge Stamp Duty on Transactions above N10,000
Nigerian banks may have reintroduced the N50 stamp duty charges on electronic payments in the country despite the public outcries that have greeted the controversial charge. Some banks have already…
- 9 May 2022
FIRS, NIPOST Rift: CBN Takes over Electronic Stamp Duty Collection
Central Bank of Nigeria (CBN) has begun the collection of electronic stamp duty with a view to settling the rift between the Federal Inland Revenue Service (FIRS) and Nigeria Postal Service (NIPOST).…
- 9 Aug 2020
NIPOST Says Stamp Duties Account was Opened by CBN
Nigerian Postal Service (NIPOST) has said that contrary to the position of the Federal Inland Revenue Service (FIRS), it was not operating any illegal stamp duty account, adding that the alleged…
- 29 May 2020
FIRS Slams N50 Stamp Duty on ATM Printouts, Some WhatsApp Messages
Nigerians will now pay stamp duties on WhatsApp messages, SMS, and messages via any electronic platform acknowledging receipt of funds, according to Federal Inland Revenue Service (FIRS). Muhammad…
- 29 Nov 2019
Union Kicks against Plans to Stop NIPOST from Collecting Stamp Duties
Senior Staff Association of Statutory Corporations and Government Owned Companies (SSASCGOC) has kicked against plans to stop the Nigerian Postal Service from collecting N50 electronic stamp duty for…