NIPOST intensifies campaign on Stamp Duties Act
ABIA State Territory of Nigeria Postal Services (NIPOST) has intensified awareness education on the Stamp Duties Act, otherwise known as Postal Stamp Duty.
The Postal Stamp Duty makes it mandatory for all transactions involving receipts, bills, payments, agreements and other financial documents from N1000 and above to affix a N50 stamp on such documents.
The law came into being through a Federal Government’s Act (CAP 411. VOL.XXII OF 1990), but its implementation has been very poor as most Nigerians do not know the importance of affixing stamps on their business transactions.
To educate the people on the importance of the law, Abia Territory of NIPOST has organized a stakeholders forum to sensitize the people on this, where the chairman of Aba, Mr. Casmir Elele, gave legal talks on the policy.
Addressing the audience drawn from various walks of life, the Area Postal Manager, Abia Territory of NIPOST, Mrs. Lorretto Nwakanma, noted that, though the law is not new, its implementation has not been successful.
Nwakanma blamed the poor implementation of the policy on a number of factors, among which were that the policy implementation is not being pursued with force as well as partial directive from the Federal Government.
According to her, because of the fact that the directive was not issued to all Ministries and Parastatals, those agencies that did not get the directive feel reluctant to comply with the directive.
