NIPOST reclaims stamp duty collection right from FIRS

THE Federal Government has declared that the Nigerian Postal Service is the agency authorised to produce and collect stamp duties in Nigeria.

Minister of Communications and Digital Economy, Isa Pantami, who disclosed this today, said the 2020 Finance Act empowered the agency for the purpose.

With this development, the NIPOST will take over the collection of stamp duties from  the Federal Inland Service (FIRS).

The Minister made this public at the inauguration of Nigeria’s 60th Independence Anniversary Commemorative Postage Stamps in Abuja today.

Noting that NIPOST is a revenue generating agency, Pantami also said, “The stamps bring to life, our founding fathers and the roles they played birthing our independence from our colonial masters.”

He continued, “This set of stamps illustrate the fact that we can achieve greater success, when we are united, regardless of our diverse ethnocultural and religious differences. Furthermore, these stamps are to be used in authenticating and validating our official documents.”

He further noted that in spite of the enormous challenges bedevilling the Nigerian Postal Service (NIPOST), the federal government is committed to repositioning the organisation to attain its maximum potential in adding value to the economy.

There has been contention between the FIRS and NIPOST over which agency is the custodian of stamp duty following the implementation of the Stamp Duty Act.

NIPOST alleged that the FIRS had stolen its mandate while the FIRS said it is not violating any law by collecting stamp duty.

Pantanmi’s declaration today has possibly put the matter to bed.