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Reps to Probe N20 Trillion ‘Non-Remitted’ Stamp Duty

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The House of Representatives has resolved to probe an alleged non-remittance of stamp duty revenue by deposit banks in the country.

The lawmakers paased the resolution after adopting a motion of urgent national importance brought before it by Goni Lawal (APC, Yobe).

The stamp duty is the tax placed on legal documents, usually in the transfer of assets or property.

The house resolution is coming months after an FOI request was sent in July on behalf of LeaksNG to the Central Bank of Nigeria (CBN), Office of the Secretary to the Government of the Federation (OSGF), Nigerian Postal Service (NIPOST), and the Nigeria Inter-Bank Settlement System (NIBSS) PLC.

The information requested were a report of stamp duty remittances by Deposit Money Banks and other financial institutions, the current status of the stamp duty central account domiciled in the CBN, stamp duty revenue remitted to the CBN by NIBSS between 2016 and 2017 and amount of revenue collected by NIPOST between 2010 and 2016.

The lawmakers accused banks and other federal agencies involved in the collection of the fund of “shortchanging the nation”.

Moving the motion, Mr Lawan urged his colleagues to investigate the matter after “efforts by both local and international civil society organizations to get details of the collections have failed.”

He said the Nigeria Postal Service (NIPOST) had in 2014 initiated the stamp duty collection scheme, after which the School Banking Honours (SBH) obtained authorisation of the Central Bank of Nigeria (CBN) to engage the banks and other collection agents.

“But public institutions, including the CBN, Nigeria Interbank Settlement System (NIBSS), NIPOST, among others, have over time failed to remit stamp duty taxes into the federation account running into trillions,” he said.

“While the deductible amount per bank account may seem small, it cumulatively adds up to money in trillions of naira, and must be subjected to the full condition of disclosure and transparency.”

The lawmaker added that such funds, if made available, could have been used for infrastructural development “or at least should have generated some interests in the private accounts where the fund is domiciled.”

Some lawmakers also raised concern over the issue which they said “is in disobedience to the treasury single account (TSA) policy”.

The Speaker Yakubu Dogara, while commenting on the issue said it is unacceptable for the banks to fail to remit the stamp duties to the CBN.

The speaker set up an ad hoc committee to investigate the whereabouts of the fund and report back in four weeks.

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Brazil Rally Back to Win U-17 World Cup

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Brazil staged a remarkable comeback for the second time in a week on Sunday to beat Mexico 2-1 in front of their own fans and win the Under-17 World Cup for a fourth time.

Just three days after they recovered from being 2-0 down to beat France 3-2 in the semi-finals, Brazil scored two goals in the last 10 minutes to overcome their Latino rivals.

Although Brazil had more of the early chances, Mexico took the lead at 66 minutes when Bryan Gonzalez rose between two defenders to head a cross from the left into the net.

Kaio Jorge equalised from the penalty spot with six minutes remaining after the Video Assistant Referee (VAR) advised officials to pull playback following a challenge on Veron.

Then three minutes into stoppage time, substitute Lazaro ran on to a cross ball and calmly fired home, to the delight of the home crowd.

The Flamengo forward had also come off the bench to score the winner in Thursday’s last-minute win over France.

“They use the VAR when it is convenient for them,” said an unhappy Mexican coach Marco Ruiz. “We had the game under control until the VAR decision. They grew after that.”

The win was revenge of a sorts for Brazil, who lost 3-0 to Mexico in the Under-17 final in 2005, as well as to their Under-23 team in the final of the 2012 Olympics.

Earlier in the day, Arnaud Kalimuendo-Muinga scored a hat trick to help France come from behind to beat the Netherlands 3-1 and take third-place.

Dutchman Sontje Hansen won the golden boot for the top goalscorer with six goals.

(Reuters/NAN)

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Bayelsa Guber: APC Dislodges PDP in Massive Landslide Victory

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The candidate of the All Progressives Congress in Bayelsa State, Chief David Lyon, has emerged the winner of the governorship election held on Saturday.

Lyon, who won in six of the state’s eight local government areas, defeated his closest rival, Senator Douye Diri of the Peoples Democratic Party.

Diri won in two local governments.

Lyon’s victory marks the first time the PDP would lose a governorship election in the state since the nation returned to democracy in 1999.

The Chief Returning Officer, Prof. Faraday Orumwense, had after he released the result of the Ekeremor Local Government Area, which was the last being expected by INEC on Monday night, promised that the final result would be made public before 1am on Monday.

Orumwense made good his promise as he announced that Lyon polled 352,552 votes to defeat Diri, who polled 143,172 votes some minutes after 1am.

Lyon was declared winner in six out of the eight local governments announced by the Independent National Electoral Commission at the Prof. Mahmood Yakubu Media Centre in the state commission’s headquarters in Yenagoa, the state capital.

The six local government areas won by the APC are Brass; Nembe; Ogbia, Southern Ijaw, Ekeremor and Yenagoa while the PDP won in the Sagbama and Kolokuma/Opokuma local government areas.

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Theatres of War: Four Killed in Kogi, Violence Rocks Bayelsa

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The Kogi and Bayelsa states’ governorship elections as well as the Kogi West senatorial rerun were on Saturday characterised by violence, shootings, killings, vote-buying and ballot box snatching as many polling units across the two states experienced tension created by political thugs.

Four people were killed in Kogi during the election by political thugs while many were injured in Bayelsa where peace took flight as a result of electoral violence.

The Commissioner of Police in Kogi State, Hakeem Busari, had before the elections assured residents of the state of the safety of their lives and property as adequate personnel would be drafted for the polls.

The elections commenced on a peaceful note across the state as there was a large turnout of voters with the electorate, mostly women trooped to the various polling units as early as 6.30am in Kogi.

But in spite of Busari’s assurance and voters enthusiasm, mayhem broke out in some polling units in Kogi East, Kogi West and Lokoja, the state capital.

Two persons were also reportedly killed by stray bullets at the Adankolo polling unit in Lokoja.

Sunday PUNCH gathered that the incident happened when some hoodlums tried to snatch ballot boxes at the polling unit.

Eyewitness said the two persons were killed when voters resisted the thugs. The thugs, it was gathered, killed the two persons while a passerby sustained a life-threatening injury from gunshot wound.

This angered the youth who mobilised and set the house of a chieftain of the All Progressives Congress in the area ablaze.

When the state police command was contacted, its spokesperson, DSP William Aya, said all enquiries should be directed to the Commissioner of Police in the state Commissioner of Police.

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