NIPOST urges MDAs to use stamp duties to boost economy

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Malam Mori Baba, Post Master General of the FederationABUJA – The Nigeria Postal Service (NIPOST) on Wednesday called on Ministries, Departments and Agencies (MDAs) to be proactive in the use of stamp duties to boost the country’s economy.

Malam Mori Baba, Post Master General of the Federation, made this call at a two-day summit on stamp duties Act organised by NIPOST in collaboration with stamp duties agents in Abuja.

The theme of the summit is “Implementing stamping protocol in Nigeria’’.

He urged the MDAs to do ensure that they generate for the country through the use of stamp duties.

He said that NIPOST would continue to create public awareness of the existence of stamp duties.

Baba commended Jigawa and Osun states for their full compliance with the provision of the Act by their respective MDAs and advised other states to emulate them.

The post master general said that implementing the stamping protocol would help promote the economic reform programmes of President Goodluck Jonathan’s administration.

“One of the enduring which the present administration will be leaving for us is the economic reform programme.

“This, apart from creating an enabling environment for attracting local and foreign investments, has broadened the scope and depth of private sector participation in the Nigerian economy,’’ he said.

Baba explained that this had made it possible for more people and organisations to be brought into the system because the stamp protocol Act had made it expedient for generation of new jobs.

According to him, the summit will assist to further develop a road map for the success of implementing the stamping protocol in the country.

He said NIPOST was partnering with more than 10 private companies to broaden the scope of implementing the stamp duties Act.

Baba explained that adhesive stamps were used by the colonial administration to settle the challenges of land disputes.

“One of the greatest milestones of the 19th century is the advent of postage stamps which contributes in serving as an effective visual use by the country to project its values,’’ he said.
The Guest Speaker, Mr Christopher Muo, said the implementation of stamping protocol would eliminate the issuance of fraudulent and doctored receipts in Nigeria.

Muo said the implementation of an appropriate stamping of receipts, documents and registrable instrument would reduce fake documents in the name of any office, business or agency of government.

According to him, it will also block linkage at cash point, thereby making the receipting process audit-verification friendly.

“It will eliminate the issuance and use of fake, fraudulent or doctored receipts or certificates purportedly issued by a tax inspectorate.’’

According to him, if the stamping protocol is properly implemented, it will improve the income profile of any office, establishment, ministry, agency and institution.

He, however, called on the National Assembly to holistically the Nigerian Poster Act in order to enforce stamping protocol as a function of NIPOST.

He also recommended that electronic stamps as a class of stamp should be minted, produced, distributed, retailed and sold by NIPOST to increase generation for the country.

Muo also pleaded with the National Assembly to amend Section 11 of the constitution to include Section 11(3).

This would ensure the recognition of NIPOST and its agents as the sole authority to provide adhesive postage stamps for use in implementing the stamping protocol.

The Stamp Duty Act was first promulgated on April 1, 1939, enacted and enforced in the then colonial Nigeria as the Stamp Duties Ordinance.

However, in 1990, it was updated as the Stamp Duties Act and was holistically reviewed in 2004 and re-enacted as the Stamp Duties Act Cap.S8 LFN 2004. (NAN)[eap_ad_3]