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Published 12 March 2021
The Federal Government on Thursday declared that the Nigeria Postal Service was the agency authorised to produce and collect stamp duties across the country.
By this declaration, NIPOST has reclaimed the right to collect stamp duties from the Federal Inland Revenue Service.
This brings to an end the prolonged years of scuffle between both agencies on who had the authority to collect stamp duties in Nigeria.
The Minister of Communications and Digital Economy, Isa Pantami, made the latest decision public in Abuja during the inauguration of Nigeria’s 60th Independence Anniversary Commemorative Postage Stamps.
He said, “Our efforts regarding the issue of stamp duty collection with other government institutions have yielded positive results.
CBN ‘naira-4-dollar’ policy may increase foreign remittance to $34bn
Tope Omogbolagun
The Central Bank of Nigeria’s ‘Naira-for-Dollar’ policy may increase the country’s foreign remittances to $34.89bn by 2023.
Forecast by PricewaterhouseCoopers, one of the big four accounting firms, had suggested that Nigeria’s remittance flows could reach $34.89bn by 2023 if the policies were right.
PwC in the forecast noted that the growth in remittances is subject to global economic forces, which could spur or hinder growth of remittance flows, growth in emigration, economic conditions of residing countries and poor economic fundamentals in the Nigerian economy.
The forecast revealed that as of 2017, the highest remittance came from the United States, followed by the United Kingdom, Cameroon, Italy, Ghana, Spain, Germany, Benin Republic, Ireland and Canada.