CBN says N378.7 billion raised in six years

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He Central Bank of Nigeria (CBN) has said that the total revenue collected as stamp duty in the last six years is N378.7 billion.

CBN Governor Godwin Emefiele made this revelation at the end of the Monetary Policy Committee (MPC) meeting in Abuja.

Last December, PREMIUM TIMES reported how a member of the House of Representatives, Gudaji Kazaure, alleged that some government agencies misappropriated N89.09 trillion collected as stamp duty revenue.

Mr. Kazaure, who represents the Kazaure, Roni, Gwiwa and Yankwashi constituencies of Jigawa State, accused government agencies of sabotaging the efforts of the Presidential Committee for the Reconciliation and Recovery of All Stamp Rights in the country. .

In its response, the presidency in a statement by the Principal Special Assistant to the President on Media and Publicity, Garba Shehu, described the claim as a figment of the imagination of Mr. Kazaure, who claimed to be the secretary of the committee.

On Tuesday, Emefiele discredited the claims made by the lawmaker.

“CBN will not join in warming up the system. We write to the banks so that they give us on their headed papers and sign how much they have collected for stamp duty from 2016 to date, ”he said.

“The total assets of all the banks are N71 trillion; total deposits in banks amount to 44.49 trillion naira. From 2016 to date, the stamp duty collection has amounted to N378.686 billion.

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

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According to him, the highest revenue collection through stamp duty is N71 billion, collected by First Bank.

Emefiele said CBN has appointed four leading auditing firms, including KPMG, PWC, Deloitte and others, to review the banks’ books and check whether there was any unremitted stamp duty revenue.

“If there is any uncollected stamp duty, the banks will pay every last kobo,” he said.

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