The Accountant General of the Federation (AGF), Mr. Ahmad Idris has said that he will grant NIPOST the request for issuance of a treasury circular to re-enforce the implementation and compliance of the Stamp Duties Act on physical denotation of stamp.
The AGF who disclosed this as he received the Postmaster General of NIPOST, Dr. Ismail Adewusi, also urged the management of NIPOST to leverage its assets and human resources to generate revenue.
He assured them that the AGF will synergise the cooperation between government sister agencies stating that NIPOST request for issuance of a
Treasury circular to re-enforce the implementation and compliance of the Stamp Duties Act on physical denotation of stamp will be granted.
The visit by management of NIPOST was to seek the assistance of Office of the Accountant General in respect to regulation of the Finance Act 2020, which empowers NIPOST as the sole authority to issue stamps for denotation and authentication of document.
Dr. Adewusi explained that with the passage of the stamp Duties Act, NIPOST has created a Stamp Authentication compliance Department (SACD) to drive the process of implementation.
He also appreciated the AGF for the active role he played during the imbroglio between NIPOST and the Federal Inland Revenue Service noting that Mr. Idris has been a reliable partner since his appointment as the Postmaster General.
The Postmaster General congratulated the AGF on his reappointment for a second term by President Muhammadu Buhari, stating that it was a demonstration of the president’s conviction of the enormous transformation and transparency he has achieved in nation’s financial account.
Adewusi implored the AGF to issue a Treasury circular to direct all MDA on the full compliance and implementation of the denotation of the physical stamp on all government transactions.
He also solicited for a partial waiver for NIPOST to operate a commercial bank account to enable it drive its Financial Agency Services, stating that the TSA hinders stream less cash disbursement of its International Money Transfer(In –Bound Remittance) to beneficiary.
Dominica Nwabufo
