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NIPOST takes over stamp duty charges collection from FIRS

The Nigeria Postal Service (NIPOST) is to replace the Federal Inland Revenue Service (FIRS) in the collection of stamp duty charges for the Federal Government (FG).

Dr. Isa Pantami, Minister of Communications and Digital Economy, announced this on Thursday in Abuja at the launch of Nigeria’s 60th Independence Anniversary Commemorative Postage Stamps.

This development has brought to an end more than three years of controversy and acrimony over the claims of ownership of stamp duty collections in the country between NIPOST and FIRS.

Pantami commended President Muhammadu Buhari, and the leadership of the National Assembly, especially the Senate and House Committees on Communications and Digital Economy for their interventions on the matter.

He also praised the management of NIPOST and other stakeholders for their resilience, saying it was heartwarming that critical stakeholders ensured that justice was done on the issue.

He said: “Our efforts regarding the issue of stamp duty collection with other government Institutions have yielded positive results.

“NIPOST has been recognised as a government agency with statutory and historical authority to be the producer of stamps and recognised for collection of stamp duties for validation of financial transactions in the country.

“We appreciate Mr. President for listening to our complaints, and we extend our gratitude to him and the Senate and House Committees for their intervention in ensuring that justice was done.”

The minister said challenges of regulation; policy and financing confronting NIPOST over the years are being addressed with a view to place the agency on a platform that would enable it generate revenue for the FG.

He said NIPOST would be unbundled into three companies to boost its operations, while efforts are on the pipeline for Federal Executive Council to approve the renovation and rehabilitation of all its dilapidated offices across Nigeria.

He said that  the Nigerian Postal Service has overcome its most difficult challenges as better days lie ahead of the agency.

He noted that the significance of the stamps are deeply rooted in “our national history as an independent nation.”

He said that part of the major challenges that faced NIPOST was that of finance, part of which was the lost of Stamp Duty collection to the Federal Inland Revenue Service, FIRS.

He expressed delight that the battle  had finally been won by the NIPOST which to him was a major achievement for the agency.

 

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