NIPOST generates N45.8bn from Stamp duties in 2019 -Adegbuyi

By Etuka Sunday

The Postmaster-General of the Federation and Chief Executive Officer of Nigerian Postal Service (NIPOST), Barr. Bisi Adegbuyi, yesterday disclosed that the service generated the sum of N45.8billion in 2019.
Barr. Adegbuyi disclosed this while addressing a Forum of Information Technology Reporters at the Headquarters of NIPOST in Abuja.
He said, there is no conflict between NIPOST and the Federal Inland Revenue Service as well as the States Board of Internal Revenue over the remittances of stamp duties.
“A circular was issued from the office of Accountant General of the Federation to both FIRS and NIPOST, that FIRS should collect access duties on contract agreement while NIPOST is to collect physical and electronic charges (N50) on items that are not accessed such as receipts, employment letters, Birth Certificates and so many other things. There is actually no conflict as far as NIPOST is concerned between it and FIRS on the matter of stamp duty collection.
“What we have generated as at Friday, December 13, 2019 is N45.8billion. The account was created in the name of NIPOST to collect the N50 stamp duty charges which is different from what FIRS is collecting,” he said.
Flanked by the General Manager Counter Services, Mrs Toyin Egbesola, the General Manager ICT, Dr Thomas Ali Gaga and the Director Finance and Investment, Malam Usman Shabba said, NIPOST is currently undergoing a digital transformation that would change the narratives of postal services in the country.
According to him, NIPOST has deployed ICT solutions/platforms to attain about 70 percent automation of all its systems and operations across the country and by 2020 the systems would be fully automated.
Barrister Adegbuyi said NIPOST as the largest government owned institution in the country with its operations dating back to 1934 is currently leveraging on digital technology to address the socio-economic problems confronting the nation.
He said: “ What we are doing currently is to change the narratives of postal service system in Nigeria by leveraging on technological platforms to drive financial inclusion, create jobs opportunities, promote Small and Medium Scale Businesses, create access to credit and mortgage systems and assist government to address the current security challenges.
“We are currently partnering with JAMB, NIMC and other institutions and agencies of government to make our operations robust particularly in the financial services sector, e-governance, remittances, parcel and postal services . The CBN has also granted NIPOST the license for money transfer because of our large presence in all the local government councils in the country.
“We are aggregating all the e-government centres, Road Safety, Immigration Service,etc. to ensure that the common man will benefit from them through the Postal Service System. You can imagine if pension are paid to our retirees in the villages through the Postal Service system, the stress associated with pension payment would be avoided and lots of lives would be saved as well from the risks associated with travelling”, he said.
Barrister Adegbuyi said NIPOST management is currently embarking on infrastructures development, deployment of digital solutions/platforms, training and retraining of its workers among others to change the narratives of postal service in Nigeria, adding that partially commercialization would place the future NIPOST in a position to generate huge revenue for the government.
On whether or not the banks are fully remitting the N50 stamp duty charges, he said, efforts would be intensified to audit the banks in that regard.

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