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We’ve Generated N66bn From Stamp Duties Since January – FIRS

Nigeria has made N66bn from stamp duties since January, the Federal Inland Revenue Service (FIRS) has revealed.

Chairman of the FIRS, Muhammad Nami, said this on Tuesday during the inauguration of the inter-ministerial committee on audit and recovery of back years stamp duties.

Nami while derailing on the breakdown of the revenue added that the Finance Act has empowered and mandated the agency to account for and receive the stamp duties.

“We have collected and remitted from money deposit banks in this year alone, a total of N20 billion. From Stamp Duties Revenue from stamping of instruments at CAC, we have realised about 7.9 billion. The amount now remitted as at the point I was appointed, stood at 39 billion. So, total stamp duty remitted, into federation account from January 2020 to June (as at yesterday) stood at N66 billion,” he said.

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