Connect with us

Hi, what are you looking for?

E-Financial

Total Revenue so far from Stamp Duty is N370Bn & Not N89Tr – Emefiele Replies Kazuare

Godwin-Emefiele-CBN-Governor

Mr Godwin Emefiele, Central Bank of Nigeria (CBN) governor,says the total revenue collected as stamp duty in six years between 2016 and 2022 is N370,686 billion.

A House of Representatives member, Alhaji Muhammed Kazaure, representing Kazaure, Roni, Gwiwa, Yankwashi of Jigawa raised the alarm in 2022 of alleged theft of stamp duty proceeds running into N89 trillion.

Emefiele, however, made his declaration of N370,686 billion on Tuesday in Abuja, after the Monetary Policy Committee meeting and stressed that the CBN was not withholding any N89 trillion.

Read Also: CBN to Fine Banks N1m Daily over New Currency Notes

“Total assets of all banks is N71 trillion; total deposit in banks is N44 trillion.

“From 2016 till date, stamp duty collection has amounted to N370,686 billion.

“The Federal Inland Revenue Service has disbursed N226.451 billion of the money to the Federation Account Allocation Committee, while the balance of N144,235 is in the CBN.

“The highest collection of the stamp is N71 billion, collected by First Bank,’’ Emefiele said.

He added that the CBN had appointed four world class audit firms to go into the books of banks to verify if there was any unremitted stamp duty.

“If there is any uncollected stamp duty, the banks will pay to the last kobo,’’ he assured. NAN

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

ad

You May Also Like

Tech

Dr. Krishnan Ranganath, the Regional Executive – West Africa at Africa Data Centres, has been honoured as one of the 50 Most Valuable Personalities...

Tech

Nigeria Data Protection Commission (NDPC) has expressed its readiness to work with the Ondo state government to promote a culture of Data Protection that...

News

Alhaji Lai Mohammed, immediate past Minister of Information and National Orientation has recounted how fake news peddled on social media almost crashed his 40-year...

News

Following recent undersea cable cuts that challenged connectivities in many countries in the West African region, Nigeria has called for a coordinated and multilateral...