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NIGERIAN GOVERNMENT INDUCTS INTER-MINISTERIAL COMMITTEE ON RECOVERY AND AUDIT OF STAMP DUTY

NIGERIAN GOVERNMENT INDUCTS INTER-MINISTERIAL COMMITTEE ON RECOVERY AND AUDIT OF STAMP DUTY

The Nigerian government on Tuesday inaugurated an Inter-Ministerial Committee on Recovery and Audit of Stamp Duty, in line with the Stamp Duties Act, FIRS Act, and the Finance Act 2019.

Attorney General of the Federation and Minister of Justice Abubakar Malami said that “following the inadequacies in the operation of Law and exercise of authority on stamp duty, certain backlogs of generated revenue were left unaccounted for thereby transforming into a matter of recovery for the Nigerian government”

Malami said that the Office of the Attorney General of the Federation and Minister of Justice is, therefore, compelled to activate the mechanism for recovery in order to ensure that government is not shortchanged.” 

He added that “as a matter of public interest, the Office must ensure that all monies collected by various entities are recovered, accounted for and remitted to the appropriate account of the Nigerian government.