Debates on revenue collections from Stamp Duties between Federal Inland Revenue Service (FIRS) and Nigerian Postal Service ( NIPOST) was brought to a close as FIRS submitted that it was backed by law to collect stamp duties.
Responsibility of stamp duties collection between FIRS and NIPOST was raised at an interactive session on the 2021- 2023 Medium Term Expenditure Framework ( MTEF) and Fiscal Strategy Paper ( FSP) organised by Joint Senate Committees on Finance and National Planing in Abuja on Thursday.
Also raised by the committee was why only N500 billion was projected as expected revenues from the stamp duties collection in 2021 budget by the FIRS.
The Chairman of the Joint Committee, Sen. Solomon Adeola (APC Lagos West) had asked the FIRS Executive Chairman, Muhammad Nami, whose responsibility it was to collect the stamp duties.
Adeola had also raised concerns on why N500 billion was projected as revenue collection for 2021 budget as against N1.5 trillion .
Nami, while responding, said there were two types of stamp duties which were the electronically related one and the adhesive ones stated in section 5(2) of the Stamp Duty Act .
Postage stamp, he explained was different from stamp duties payments noting that relevant laws empowered the FIRS to collect.
He said, though gaps in the stamp Duties Act, urgently needed to be addressed, right of collection for the electronic related ones had been legally given to FIRS by the National Assembly through the Finance Bill passed last year and assented to, by President Muhammadu Buhari as an act of parliament.
” Besides, stamp duties are more of tax collections which the FIRS , is constitutionally empowered by relevant provisions to carry out,” he said .
However, members of the committee raised issues on the N500 billion revenue projected for 2021 budget of FIRS, when parameters on groundnshowed that the agency could collect more.
Sen. Gabriel Suswam (PDP Benue -East) said thatbthe N500 billion projected as revenue from stamp duties by FIRS in the 2021 budget was too meagre to the realisation of the projected N12.6 trillion 2021 budget .
“The deficit in the projected budget is N5.1 trillion, requiring aggressive revenue generation internally by agencies such as FIRS in making the budget implementable,” he said.
Iposu family decries Epe monarch’s incursion into land
The Iposu family chieftaincy in Epe area of Lagos State has decried persistent threat from Oba Kamorudeen Animashaun, the Oloja of Epe land, calling on the Lagos State government to intervene.
Mr Sharafadeen Iposu, on behalf of the family told the News Agency of Nigeria (NAN) in Epe on Thursday that the family had called on Gov Babajide Sanwo-Olu to save them from persistent encroachment and threats by the Oloja of Epe land.
Iposu, who alleged that the paramount ruler’s frequent encroachment into lposu landed properties in the community was becoming unbearable.
He said this necessitated the family to cry out to the public and government for intervention.
According to him, the tussle over the ownership of the land began in 2001with the Oloja of Epe land, who claimed to be the owner of the land.
“But, history made us understand that the land belong to Iposu Chieftaincy Family not for Oloja of Epeland,” Iposu added.
Iposu said that the land was inherited from their forefathers, who happened to be staunch follower of Late King Kosoko of Lagos Island.
“It was in 1851 that Chief Iposu and other chiefs accompanied Kosoko to Epe.
“As a prominent chief under King Kosoko, he took possession of some lands using it for farming and fishing.
“Immediately King Kosoko left Epe in the year 1852, Chief Iposu became the chief ruler of the whole Epe town,” he said.
He added that the late Chief Iposu ruled Epe from 1853 to 1875 before he died in 1875.
“After his death, the entire land became vested in the hand of the Iposu family.
“Since then, the family have been in full possession of the land,” he said.
Iposu recalled that in the year 1927 and 1971 respectively, differently families have battled with Iposu chieftaincy family land and the matter was taken to Magistrate, Appeal and Supreme Court.
The Supreme Court, in 1982 ruled in favour of Iposu chieftaincy family as the genuine owner of the land
He said that after the Supreme Court verdict, the family have been in full possession of the land.
“We have in our possession evidence of different court judgment.
“But, recently Oba Kamorudeen Animashaun, the Oloja of Epe land encroached into the lands and started selling without the consent of the family.
“We have reported the case to Epe Divisional Police Station, We also informed the zone 2 office of the Nigeria Police Force in other to get the police backing.
“Despite the police intervention, they told us to maintain status quo, but the monarch refused to yield to advice of the Police.
“He, Oba Animashaun still keep selling the land of Iposu family that did not belong to him,” he told NAN.
Iposu said that the family reported the case to their lawyer and he advised them to take the legal possession of their land from encroachment and fence it round.
“Upon fencing the land, Oba Animashaun send some thugs to the land to beat up the workers working on the land.
“They were beaten brutally and chase away from the land,” he said.
He, therefore, called on the government and members of the public to come to their rescue by claiming back the land for Iposu family.
All effort to reach Oba Animashaun proved abortive as people in the palace told NAN Correspondent that Animashaun was not available.
