Stamp Duty money is N370.686bn, not N89tn – Emefiele

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Abuja, Jan. 24, 2023 – Godwin Emefiele, the Governor of Central Bank of Nigeria (CBN), says the total revenue collected as stamp duty between 2016 and 2022 is N370.686 billion

He said the money was not N89 trillion as claimed by Muhammed Kazaure, a member of the House of Representatives, in a petition to the president in 2022.

Emefiele made the declaration in Abuja on Tuesday at a press briefing after the meeting of the Monetary Policy Committee.

He said that the CBN was not withholding N89 trillion.

Emefiele said the clarification became necessary following allegation that an humongous sum of N89 trillion collected as stamp duty had been stolen.  

He said total assets of all banks in the country was N44 trillion.

“From 2016 till date, stamp duty collection has amounted to N30, 686 billion.

“The federal Inland Revenueue Service has disbursed N226.451 billion of the money to the federation Account Committee, while the balance of N144,235 is in the central bank,’ he said. (GBN)

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