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Stamp duty dispute: Court orders CBN to pay firm N579.1b in damages

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A Federal High Court in Abuja has ordered the Central Bank of Nigeria (CBN) to pay a firm – Kasmal International Services – N579,130,698,440 for assisting the Nigerian Postal Service (NIPOST) to collect stamp duty between January 1, 2015 and January 31, 2020.

The court also ordered the CBN to pay the N579 billion judgment sum along with 10 percent interest per annum.

Justice Inyang Ekwo handed down the judgement on Friday in a suit marked: FHC/ABJ/CS/335/2024 filed by Kasmal, with the CBN and the Attorney General of the Federation (AGF) and Minister of Justice as defendants.

Justice Ekwo faulted the defendants’ contention that NIPOST lacked the statutory power to collect stamp duties and that the agreement it (NIPOST) reached with the plaintiff was illegal.

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The judge declared that a previous judgment on stamp duty given in favour of the plaintiff still subsisted as it is yet to be contradicted by any higher court.

Justice Ekwo faulted the argument by the CBN and the AGF that the reliefs sought by the plaintiff could not be granted because all revenues accruing to the federation, including the stamp duties, are remitted into the Federation Account, which could only be distributed among the tiers of government as provided in the Constitution.

The judge noted that the CBN had earlier paid Kasmal N10.3 billion, representing 15 percent of the remitted stamp duty paid by all Deposit Money Banks (DMBs) between January 1, 2015, and January 31, 2020, from the CBN NIPOST Stamp Duty Collection Account No. 3000047517.

He said: “I find, at the end, that the CBN and the AGF have not effectively controverted the case of the plaintiff. The plaintiff, having made a credible case, ought to succeed on the merit, and I so hold.

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“It is my opinion that this case is predicated on the fact that the first and second defendants have had transactions with the plaintiff before by paying the plaintiff the sum of N10.3billion, being 15 percent of remitted stamp duty.”

The plaintiff, represented by Dr. Alex Izinyon (SAN), had claimed that NIPOST appointed it to represent it (NIPOST) in the collection of N50 on all receipts given by any bank or financial institution in acknowledgement of services rendered concerning electronic transfers and teller deposits of N1,000 and above, in compliance with the Stamp Duties Act and the Nigeria Financial Regulations 2009.

He added that the terms of the agreement between NIPOST and the plaintiff included the remuneration of N7.50 from every N50 deduction.

Kasmal prayed the court for an order directing the 1st and 2nd Defendants to pay the plaintiff the sum of N579,130,698,440 or any other sum as may be adjudged by this Court upon the production of the records relating to the collection of stamp duty between January 1, 2015, and January 31, 2020, representing 15% of all accrued deposits paid into or which ought to have been paid into the CBN NIPOST Stamp Duty Collection Account No. 3000047517 by all Deposit Money Banks (DMBs).

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“An order directing the 1st (CBN) and 2nd Defendants to pay the plaintiff an interest payment of 10% per annum on the sum of N579,130,698,440 or any other sum as may be adjudged by this Court upon the production of the records relating to the collection of stamp duty between January 1, 2015, and January 31, 2020, representing 15% of all accrued deposits paid into or which ought to have been paid into the CBN NIPOST Stamp Duty Collection Account No. 3000047517 by all Deposit Money Banks (DMBs).”

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Adeleke Maintains Lead As Collation Of Osun Governorship Results Continues

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The current Governor of Osun State and Accord Party candidate, Ademola Adeleke, is holding a commanding lead in the ongoing collation of results from Saturday’s governorship election in Osun State.

According to Punch, a check on the Nigeria Elections Intelligence System showed that with results in from 303 of the state’s 332 wards, Adeleke had amassed 177,572 votes, representing 50.5 per cent of the total.

His closest rival, the All Progressives Congress (APC) candidate, Bola Oyebamiji, trailed with 158,588 votes, or 45.1 per cent, putting the incumbent firmly ahead as collation neared its final stretch.

Najeem Salaam of the African Democratic Congress (ADC) occupied a distant third position with 5,917 votes at the time of filing this report.

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Data from the exercise showed that of the 845,100 registered voters in Osun State, only 361,500 were accredited, putting voter turnout at 42.8 per cent.

Of the votes cast, 351,500 were declared valid, while 7,200 ballots were thrown out as rejected.

The Independent National Electoral Commission (INEC) disclosed that 43.41 per cent of the state’s polling units had submitted their results by the time collation entered its concluding phase.

INEC’s Returning Officer for the state is expected to formally declare a winner at the state collation centre once results from all outstanding wards have been received.

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INEC Plans To Declare Osun Election Inconclusive— Adeleke Camp

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The Imole Campaign Council, the campaign organisation of Osun State Governor and Accord Party governorship candidate, Ademola Adeleke, has raised the alarm over an alleged plan by the Independent National Electoral Commission (INEC) to declare Saturday’s governorship election inconclusive.

Chairman, Media and Publicity Committee of the council, Bamidele Salam, in a statement obtained by Politics Nigeria, described the alleged plan as “sinister” and an attempt to subvert the will of Osun voters.

The campaign council alleged that the purported move was being coordinated by some governors and leaders of the All Progressives Congress (APC) as part of efforts to frustrate what it described as Adeleke’s “imminent victory” in the election.

“Our Party wishes to inform Nigerians of a sinister plan by the Independent National Electoral Commission INEC to declare the ongoing Governorship election inconclusive in an apparent move to frustrate the imminent victory of Sen Ademola Jackson Nurudeen Adeleke of the Accord,” the statement said.

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The campaign council further alleged that the move was one of the “last minute desperate moves” by the APC to hijack the election outcome.

It called on the INEC Chairman, Joash Amupitan, and the electoral commission to uphold their commitments to conducting a free, fair and credible election.

The council also appealed to security agencies, including the Nigeria Police Force, Department of State Services (DSS) and Nigeria Security and Civil Defence Corps (NSCDC), to strengthen security around collation centres across the state.

It alleged that ballot boxes had already been hijacked at some polling units by suspected thugs and demanded the immediate arrest and prosecution of those responsible.

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The campaign council also urged local and international election observers to pay close attention to the collation process and speak out against any alleged attempt to undermine the electoral process.

Meanwhile, in a separate statement, the spokesman of the Imole Campaign Council, Pelumi Olajengbesi, said Adeleke and the Accord Party were “in a comfortable lead” in the election.

Olajengbesi urged INEC to comply with President Bola Tinubu’s directive for a transparent, free and fair election, while calling on security agencies to remain professional and politically neutral during the collation of results.

He particularly warned against alleged attempts to manipulate the process at ward and local government collation centres.

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“The votes of the good people of Osun must count,” Olajengbesi said, urging civil society organisations and international observers to monitor the process through the final declaration of results.

“INEC should not subject the democratic will of the people to the ego of APC power-grabbers and moneybags desperate to win this election at all costs when the Accord Party is clearly in the lead.

“We urge civil society organisations and lovers of democracy across the world to monitor this process till the very end and reject any nocturnal magic or manufactured votes by the APC.”

The allegations by the Adeleke camp come as INEC officials proceed with the collation of results from polling units across Osun State.

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The Imole Campaign Council also called on voters and observers to remain vigilant, while urging the electoral commission and security agencies to ensure that the final outcome reflects the votes cast by the people of Osun State.

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Osun Election: Accord Defeats APC in Omisore’s Polling Unit

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The Accord Party has defeated the All Progressives Congress (APC) at the polling unit of former Osun Deputy Governor and ex-APC National Secretary, Senator Iyiola Omisore, in the ongoing Osun State governorship election.

According to results uploaded to the Independent National Electoral Commission (INEC) Result Viewing Portal (IReV), Accord secured 131 votes at Polling Unit 003, Ife Ward 1 (Moore), St. Gabriel Primary School, in Ife East Local Government Area.

The APC polled 85 votes to finish second, while the African Democratic Congress (ADC) recorded 10 votes. Other political parties obtained marginal votes at the polling unit.

The result adds to a series of early victories recorded by the Accord Party as INEC continues the uploading and collation of results across the state.

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Earlier, Accord also won at the polling unit of former Osun Governor, Prince Olagunsoye Oyinlola, in Okuku, Odo-Otin Local Government Area.

The result sheet uploaded on the IReV portal showed Accord polling 125 votes, ahead of the APC, which recorded 85 votes. The ADC secured five votes.

Meanwhile, INEC has continued to upload results from polling units across Osun State as the governorship election moves into the collation stage.

Voters across the state’s 30 local government areas cast their ballots on Saturday to elect a governor for the next four years.

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The major contenders in the election include the incumbent Governor Ademola Adeleke of the Accord Party, APC candidate Bola Oyebamiji, and African Democratic Congress (ADC) candidate Najeem Salaam.

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