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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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Insecurity: FG Resuscitates Special Terrorism Prosecution Courts

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Attorney-General of the Federation (AGF), Abubakar Malami, has said that special terrorism prosecution courts will soon be resuscitated in Nigeria.

In a statement on Thursday, Special Assistant on Media and Public Relations to the AGF, Umar Gwandu, said the decision is part of efforts to address insecurity.

“The federal government is committed to ending insecurity in the country. The courts are to bring to book all those found guilty in connection with terrorism, so as to serve as a deterrent to others,” the statement read.

“In addition to the prosecution of 400 suspected Boko Haram financiers, the measures taken by the government will counter the twin trouble of insurgency and insecurity in the country.”

On April 30, 2013, Ibrahim Auta, the former chief judge of the federal high court, made a practice direction that amended the order 48 rule 4 of the federal high court (civil procedure) rule 2009, which took effect on June 3, 2013.

The practice direction was intended to fast-track criminal trials relating to offences of terrorism, kidnapping, trafficking in persons, rape, corruption, and money laundering cases, and ensure that delays in criminal trials are largely eliminated.

Under this practice, the court shall ensure that criminal cases are fully ready for trial before hearing dates are agreed, in order to minimise undue adjournments and delays.

Parties involved in the trials are also expected to focus only on important matters relating to their cases.

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$65m Fraud: ICPC Declares Buhari’s Son-in-Law Wanted

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The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has declared Gimba Yau Kumo, son-in-law of President Muhammadu Buhari, wanted over an alleged $65 million fraud.

In a notice published on Thursday, Azuka Ogugua, spokesperson of the anti-graft commission, said Kumo is declared wanted alongside Tarry Rufus and Bola Ogunsola over alleged misappropriation and dispersion of national housing funds.

Kumo, a former managing director of the Federal Mortgage Bank of Nigeria, married Fatima, the president’s daughter, in 2016 at Daura, Katsina state.

“The persons whose pictures appear above, Mr. Tarry Rufus, Mr. Gimba Yau Kumo and Mr. Bola Ogunsola, are hereby declared WANTED by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) in connection with issues bordering on misappropriation of National Housing Funds and diversion of the sum of Sixty Five Million dollars ($65,000,000),” the ICPC said.

“Anyone who has useful information on their whereabouts should report to ICPC Headquarters Abuja, any of the ICPC State Offices or the nearest police station.”

In April, the senate committee on public accounts summoned Kumo to explain the alleged irregular award of N3 billion contract when he was still at the bank.

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Igbo Aren’t Violent People, Ignore ‘Rumour’ of Attack on Lagos – Ohanaeze Tells Sanwo-Olu

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Apex Igbo socio-cultural organisation, Ohanaeze Ndigbo, has asked Lagos State Governor, Babajide Sanwo-Olu, to ignore threats of attacks on the state.

On Monday, Hakeem Odumosu, Lagos commissioner of police, said the command is probing threats of attacks by the proscribed Indigenous People of Biafra (IPOB) and Oodua Republic agitators.

The groups have, however, denied the allegations.

Speaking at a meeting with Sanwo-Olu at the Lagos government house on Thursday, George Obiozor, Ohanaeze president-general, said the “rumour” is intended to distract the governor from delivering good governance to the people.

Obiozor said Igbo people are not known for acts of violence.

“Today, the leadership of Ohanaeze Ndigbo worldwide, in the company of Igbo elders and leaders in Lagos, are here to pay you (Sanwo-Olu) a solidarity visit and to further reassure you that Ndigbo are not violent in nature, neither are we known for acts of violence anywhere we live,” Gboyega Akosile, chief press secretary to the governor, quoted Obiozor as saying.

“[On] the constant and periodic dangerous insinuations, rumour, gossip and callous statements that Ndigbo in Lagos or any part of Yorubaland contemplate or instigate violence in Lagos or any part of Yorubaland, we wish to state clearly that anywhere this dangerous rumour or statement is emanating from is aimed to cause division, crises and conflict amongst us.

“We think that this rumour is intended to distract the Lagos State Government from its efforts to provide good governance for all and cause disaffection between Ndigbo who live in Lagos and their host community, which is the second home of several Ndigbo.

“The quick denial of this rumour by members of IPOB and Yoruba groups in Lagos and across the south-west was a source of relief.

“The Igbo nation is renowned for being agents of development, not destruction. Ndigbo are builders and their contributions to the development of Lagos State are evident and exemplary.”

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