CBN: Allegation of N89tn Stamp Duty Fraud is Ridiculous, Baseless

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James Emejo in Abuja

The Central Bank of Nigeria (CBN) yesterday said allegations that stamp duty collection amounting to N89 trillion was unaccounted for by the bank were unfounded.

The CBN, Director, Corporate Communication, Mr. Osita Nwanisobi, also said such allegations were shocking since the assets of the entire banking industry were less than the amount being taunted.

He also said the central bank has nothing to do with the stamp duty collections other than keeping the records in line with the provision of law.
A member of the House of Representatives, Gudaji Kazaure, had recently alleged that N89.09 trillion purportedly realised from deductions by banks as stamp duty charges had been diverted.

The lawmaker also alleged that the CBN Governor, Mr. Godwin Emefiele kept another $171 billion in the bank’s private investors’ account as proceeds of stamp duty.
The presidency has however dismissed the allegations of misappropriation of Stamp Duty funds levelled against…



Source: Thisday Newspaper