By Folasade Akpan
The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), says it will soon commence probe of banks over stamp duties collection as it expects to recover more than N100 billion from the probe.
A statement by Mr Ibrahim Mohammed, the commission’s spokesperson on Sunday in Abuja, however, did not specify when the probe would commence.
He, however, said the probe would involve a forensic investigation of the funds that had so far been collected as stamp duty by 22 Deposit Money Banks (DMB) from 2000 to 2018.
According to him, RMAFC is the only constitutional body vested with the powers to monitor all revenue accruals into the Federation Account.
“To this end, the commercial banks had been deducting the sum of N50 on every deposit with a value of N1,000 and above since January 2000.
“At the moment, the total sum of N33 billion had been realised through the collection of stamp duties which…
Source: News Agency of Nigeria
