AfriPulse
The Senate Public Accounts Committee has initiated a comprehensive investigation into stamp duty collections totaling trillions of naira from 2016 to 2024, requiring detailed disclosures from commercial banks, the Central Bank of Nigeria (CBN), the Federal Inland Revenue Service (FIRS), and state governments.
Committee Chairman, Senator Ahmed Aliyu Wadada, announced the probe during a press briefing in Abuja, citing concerns over vast unaccounted sums.
“It is one thing to generate revenue and another to ensure it is judiciously utilized,” Wadada stated.
“The legislature cannot ignore trillions at stake.”The committee has directed commercial banks to submit records of stamp duty collections and remittances over the eight-year period.
The CBN must provide data on bank remittances and transfers to the Treasury Single Account (TSA).
Letters have also been issued to the FIRS for details on duties from government and private agreements, and to the Nigerian Governors’ Forum chaired by Kwara State Governor AbdulRahman AbdulRazaq for state-level proceeds.
“We demand clarity on every collection and its utilization,” Wadada said. “This is about tracking every kobo for Nigerians’ benefit.”
Preliminary consultant data has been received, but findings will await full reconciliation. Discrepancies will prompt summonses.
All entities must respond by November 25, 2025.“This administration prioritizes transparency. Our role is to ensure revenues are fully accounted for and effectively deployed,” Wadada affirmed.
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Source: NigerianEye | Read the Full Story…
