Monday , October 18 2021
Accountant General Tasks NIPOST on Revenue Generation, Moves to Address Stamp Duties Challenges

Accountant General Tasks NIPOST on Revenue Generation, Moves to Address Stamp Duties Challenges



Accountant General of the Federation, Ahmad Idris has urged the management of NIPOST to leverage its huge assets and human resources to generate revenue.

He gave this charge while he received in audience the Postmaster General of Federation, Dr. Ismail Adebayo Adewusi at the Treasury House in Abuja.

He assured the PMG that the office of the Accountant ant General will create a synergy for mutual cooperation between government sister agencies. Stating that NIPOST request for issuance of a Treasury circular to re-enforce the implementation and compliance of the Stamp Duties Act on physical denotation of stamp will be granted.

The PMG visit was to seek the office of the Accountant General in respect to regulation of the Finance Act 2020, which empowers NIPOST as the sole authority to issue stamps for denotation and authentication of document.

He explained that with the passage of the stamp Duties Act NIPOST has created a Stamp Authentication compliance Department (SACD) to drive the process of implementation.

 

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Dr. Adewusi had earlier appreciated the AGF for the active role he played during the imbroglio between NIPOST and the Federal Inland Revenue Service. He recalled that Mallam Ahmad Idris has been a reliable partner since his appointment as the Postmaster General. He congratulated the AGF on his reappointment for a second term by President Muhammadu Buhari, stating that it is a demonstration of the president’s conviction of the enormous transformation and transparency he has achieved in nation’s financial account.

The Postmaster General entreats the AGF to issue a Treasury circular to direct all MDA on the full compliance and implementation of the denotation of the physical stamp on all government transactions. In the same vein, Adewusi solicited for a partial waiver for NIPOST to operate a Commercial Bank Account to enable its drive its Financial Agency Services, stating that the TSA hinders stream less cash disbursement of its International Money Transfer(In –Bound Remittance) to beneficiary.

 


About Bukola Olanrewaju

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