Stamp duty: Court stops FG’s N5trn tax policy

The stamp policy of the Federal Government expected to generate N5 trillion has been stopped by an Abuja Federal High Court.

Justice Gabriel Kolawole in a judgment held that the policy being implemented by the Nigerian Postal Service (NIPOST) was unconstitutional, illegal, unlawful and ultra-vire and set the drive aside.

Delivering judgment in a suit filed by the Nigerian Bottling Company (NBC) against the Nigerian Postal Services (NIPOST) and a private firm Kasmal International Services, the judge held that NIPOST under the law was not a tax collecting establishment of the federal government.