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Your email address will not be published.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

National Identity Management Commission (NIMC) has announced a milestone achievement, with over 117 million Nigerians now enrolled for the National Identity Number (NIN) as...

Tech

Samsung Electronics has taken a bold step in enhancing user experience and inclusivity by introducing Hausa, Igbo, and Yoruba as official language options on...

News

A BBC investigation has uncovered a widespread immigration scam targeting foreign nationals seeking employment in the UK care sector, with recruitment agents, including a...

News

MTN Media Innovation Program (MIP), a six-month fully-funded certificate fellowship designed for media professionals, is redefining journalism and content creation in Nigeria. Now in...