The Minister of Finance Budget and National Planning. Zainab Ahmed, has said that the Federal Inland Revenue Service (FIRS) would be in charge of sales and collection of stamp duties. This is coming despite the Senior Staff Association of Statutory Corporations and Government Owned Companies (SSASCGOC) and NIPOST workers got the assuarance of the senate that they would carry out the mandate.

The Minister while addressing the press in Abuja said “by the passage of the Finance Bill it will be the Federal Inland Revenue Service that will be collecting the Stamp Duties.” S “It is a revenue for the government, it is a form of tax for every financial transaction that goes on.

For example, you send a transfer, you see the bank charges you N50, FIRS is going to be the collection agency,” she added. However, SSASCGOC had in a letter signed by the president of the union, comrade Mohammed Yunusa and the general secretary comrade Ayo Olorunfemi, which was copied to President Muhammadu Buhari, the Senate president Ahmed Lawan and the Speaker House of Representatives Femi Gbajabiamila and made available to Daily Trust stated that “The provisions of Stamp Duties Act Cap S8 Laws of the Federation 2004 and the NIPOST Act Cap N127 LFN 2004, has given the sole power to collect stamp duties to NIPOST.” Comrade Ayo stressed that it is the ‘core mandate’ of NIPOST to collect stamp duty after which five percent of what was collected is used for the development of NIPOST infrastructures Nationwide.

He further noted that “it is no longer an attempt, but is now clear that the Federal Ministry of Finance in collaboration with Federal Inland Revenue Service (FIRS) are ready to take over the responsibility of Nigeria Postal Service by influencing the House of Representatives to insert that they should be responsible for the collection of stamp duty. He lamented that “Once this is done, NIPOST is finished and the staff is gone, there is no source of revenue and therefore, the financial inclusion programme of this government will go into extinction. Because it is only NIPOST that has a federal presence in all the villages across Nigeria.”

Daily Trust gathered that the problem started when in line with the digital economy of the federal government, NIPOST sponsored a bill to migrate from manual to digital on the collection of stamp duty. He said from the analysis, about N500 billion would be collected from the first year with an electronic collection of stamp duty, adding that subsequent years the amount would run into trillions.

“Now that the federal government announced the establishment of Ministry of Communication and Digital economy you don’t expect NIPOST to continue to be analog. So we sponsored a bill to give us the power to do electronic stamp so that we can use the electronic stamp to denote our receipt and other business transaction.

“And all of a sudden because we put the financial implications, the huge revenue derivable from the project, the Federal Inland Revenue Service connived with the minister of Finance to corner the process. “Ours is a business, we produce stamp and sale. The inland services don’t produce, what we produce is a stamp and if it changes from manual to digital, that shouldn’t be their business.” He said.

Read more: https://www.dailytrust.com.ng/contestation-as-finance-minister-insists-firs-will-collect-stamp-duties-others-disagree.html

Is there any other thing our Politicians know how to do except Revenue generation?

Lolz agents of darkness

No nation can tax itself to prosperity. Such policy is like someone standing inside a bucket with the attempt to lift the bucket up. You are definitely not moving an inch.
This is not right in anyway.

Fleecing the populace of their hard earned money. NIPOST wants to store the yam.

So?

Yawns.

I know the revenue forcast blew thier minds & FIRS be like we need to hijack this to increase our percentage revenue.....on the flip side....with the use of internet, emails, sms, WhatsApp, telegram.....am thinking.....is NIPOST still relevant in this current age?......


I guess we might need to buy stamps to post our thoughts on Nairaland ........uncle Buhari, here is another source of revenue sitting idle.......thunder fire your Black aboki nyash

Let her come and take it now. Useless people

Charges here and there, taxes here and there, stamp duty everywhere. Yet Nigeria looks like Dominican Republic, OK...

Brandstudio01:
Is there any other thing our Politicians know how to do except Revenue generation?

Revenue generation in its sense is not a bad thing, the issue is how they are going about it .

All the duty way dem go steal finish

They should just divide Nigeria abeg

https://punchng.com/ahmeds-appointment-confirms-buharis-tribal-toga-junaid/

https://www.youtube.com/watch?v=yDCdz82N25M&feature=emb_err_watch_on_yt
he Tribal appointments of Dullards as Ministers,
DSS =HAUSA
Customs =Hausa
Army= Hausa
Navy = Hausa
Police =Hausa
Aso Rock = Hausa
Just name it,

Nigeria is under another colonial masters, this time it is the Hausa who are not Educated
They get juicy appointment while Your own children are crying i want to go abroad, By the time they return Hausa have taken over Lagos and taken over the East. Are you shocked they are killing your Parents with the Herdsmen even in their own state?

Every govt parastata wants to get a way to milk the people dry

FIRS suddenly realized there is money to be made if stamp duty is digitalised so they connived with the minister of finance to take over from NIPOST through the back door by using the "finance bill".

This country is all about self interest no national interests. FIRS and the minister doesn't care the ripple effect or if the FIRS can even add stamp duty collection to their plate,they just heard 500 billion and their ears rose like an elf.

Zoo Amaka

FIRS has turned to Federal Inland Revenue Scammers. They want to scam NIPOST. Security and Economy, I rate Buhari government 5%. Anti-corruption 35%, infrastructure and social development, 50%. Overall, cumulative score for Buhari government 25%, CGPA 1.38 out of 5.0, which is definitely equal to 1 semester probation and 2nd Semester "Asked To Withdraw". By 2023, Buhari APC, Nigerians will ask you to withdraw from power. Go and write Jamb again, olodo government

This regime is so concerned about taxing it's citizens. I'm yet to hear of any tangible plan on how to industrialize the nation.
You don't build a country by tax, you need to industrialize. Produce goods and services, which will increase foreign revenue and reduce unemployment at the same time.
I am sorry for the so called leaders we have at the helm of affairs. This country will just keep going round in circles.

zed7:
This regime is so concerned about taxing it's citizens. I'm yet to hear of any tangible plan on how to industrialize the nation.
You don't build a country by tax, you need to industrialize. Produce goods and services, which will increase foreign revenue and reduce unemployment at the same time.
I am sorry for the so called leaders we have at the helm of affairs. This country will just keep going round in circles.

It's not a joking matter at all. Imagine the level of over taxation Buhari government is pushing for, so they can continue living like royal thieves. And Tinubu is not President yet, by the time Tinubu is president, we might get taxed for breathing air, because baba Tinubu is a taxation specialist. Was it not just few days ago on Nairaland that the stock exchange was reported to have lost billions. They will use tax to kill everything in this country. No nation can grow from underdeveloped to developed by over taxation. It is technology and industrialization that turns nations into wealthy countries, not taxation.

OK

This Administration is a joke. Next election can not come soon enough.

Everyone is now a taskmaster desperate to fleece Nigerians under this oppressive govt. Nigeria deliver thyself.

jabberjawz:
on the flip side....with the use of internet, emails, sms, WhatsApp, telegram.....am thinking .....is NIPOST still relevant in this current age?......

lol, you see DHL and co, they are waxing strong irrespective of the time and technology, NIPOST should have upgraded to this standard, offering swift and premium service without compromising the low cost.

Sikay19:

No nation can tax itself to prosperity. Such policy is like someone standing inside a bucket with the attempt to lift the bucket up. You are definitely not moving an inch.
This is not right in anyway.

correct!
They have forgotten their work as government people which is to protect the masses through regulation. They are fast turning into full blown capitalists whose only aim is more and more profit (revenue).

if u supported d dullard don't complain

VeeVeeMyLuv:
correct!
They have forgotten their work as government people which is to protect the masses through regulation. They are fast turning into full blown capitalists whose only aim is more and more profit (revenue).

Aptly put

This is probably the worst finance minister Nigeria has had in two decades.

Nobody knows she existed

Nobody feels her impact

It is of urgent national importance that NIPOST is allowed to collect the stamp duty. Especially with the proviso that it can use 5% for the development of it's infrastructure which would put it at par with the most efficient postal systems in the world.