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Stamp Duty: Malami writes 36 governors, says no recoveries yet

Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN) has written letters to all the governors of the 36 states of the federation for the purpose of compliance with audit and recovery of back years of Stamp Duty from January 15, 2016 to June, 30 2020.
This was disclosed Wednesday in Abuja in a statement issued by Malami’s media aide, Dr. Umar Jibrilu Gwandu.
Malami’s letter reads in part: “Pursuant to Mr. President’s approval and directives, I also wish to request Your Excellency to direct the State Ministries, Departments, Agencies, and Regulatory Institutions of Financial Sector to engage and grant access to the appointed Recovery Agents for the purpose of the Audit and Recovery of Stamp Duty to ensure that all established liabilities are remitted as appropriate”.
According to him, the recoveries are being conducted for the Federal Ministries, Departments, Agencies and Financial Institutions. At this stage liabilities are being established, and no actual recovery has been made.
“Section 111 of the Stamp Duty Act granted the Attorney General of the Federation an exclusive power to recover any outstanding payment or remittances related to Stamp Duty”.
The letters were written pursuant to the provision of Section 111 of the Stamp Duty Act which provides that “all duties, fines, penalties and debts due to the Government of the Federation imposed by this Act shall be recoverable in a summarily manner in the name of the Attorney General of the Federation or the State”.
Gwandu said what the Attorney General of the Federation did was to activate those powers, conduct the audit and recovery of back years stamp duty in collaboration with stakeholders.
He said the Federal Government has set up an Inter-Ministerial Committee on Audit and Recovery of Back years Stamp Duties from January 15, 2016 to June 30, 2020.

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