Lawmaker Raises Alarm Over Missing N89 Trillion Stamp Duty Proceeds

Lawmaker Raises Alarm Over Missing N89 Trillion Stamp Duty Proceeds

Mr Muhammed Kazaure, a member of the House of Representatives, has raised the alarm about alleged theft of stamp duty proceeds worth N89 trillion.

In an interview with the Guardian in Abuja, the Jigawa-born lawmaker claimed that he has valid documents proving the existence of such funds in the custody of the Central Bank of Nigeria (CBN).

He claimed that the apex bank has not remitted stamp duty revenue to government coffers as tax, claiming that the bank only remits 60% to the government and 40% to private pockets.

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In response to the presidency’s denial of his allegations yesterday, the lawmaker recalled that President Muhamadu Buhari had established a presidential committee on the recovery of stamp duty from 2015 to date in June of this year, with him as secretary.

According to Kazaure, the president is concerned about the unremitted large sums because he wants to pay off the nation’s debts before leaving office, and the money in question would have gone a long way toward doing so.

The lawmaker made documents available to substantiate his allegations, revealing that the CBN governor, Godwin Emefeile, has kept another N171 billion dollars in the bank’s private investors account as stamp duty proceeds.

He demanded that the CBN chairman be suspended so that the relevant authorities could conduct an investigation.

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