FIRS, NIPOST Face-Off: CBN Takes Over Electronic Stamp Duty Collection

The Central Bank of Nigeria (CBN) has begun the collection of electronic stamp duty due to the rift between the Federal Inland Revenue Service (FIRS) and Nigeria Postal Service (NIPOST).

President-General of the Senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASCGOC), Kayode Alakija, disclosed this during an interview with Labour Correspondents in Abuja at the weekend.

Alakija said the association, an affiliate of TUC, could not be watching akimbo while NIPOST, one of the branches of SSASCGOC, was being deprived of its power.

Recall how the two government agencies fought over collection of the N50 stamp duty before the matter was later taken to court for settlement.

While both parties are still awaiting stakeholders’ intervention and the court’s final decision, the apex bank took over collection of the electronic aspect, the adhesive production aspect was ceded to the NIPOST.

Alakija said, “The issue of stamp duty was actually addressed. Initially, if you followed it, there was a time they came up with the Act that has to do with the Finance tagged Finance Act where stamp duty was ceded to another agency.

“The adhesive aspect of the stamp is what they have given the NIPOST exclusive rights to produce. Meanwhile the electronic aspect of it has been given to the CBN for now.”

He explained that his association has begun to address many complaints of NIPOST customers by partnering with the service’s management.

According to him, “What we are doing is that we are working closely with the NIPOST management to see how we can improve efficiency and effectiveness in that organization.

“Of the truth, we’ve had so many complaints from customers of NIPOST which we are working with the management to see that the right services are delivered because ours is to partner with management of an organization to get the best for our members.”