December 17, 2019

FG rakes in N45.8bn from stamp duties

FG rakes in N45.8bn from stamp duties

By Emmanuel Elebeke

The Post Master General of the Federation and Chief Executive Officer of Nigerian Postal Service (NIPOST), Barr. Bisi Adegbuyi, said Tuesday that the Federal Government has raked in over 45.8 billion naira in the last three years from stamp duties following the reforms introduced by the present administration.

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Adegbuyi disclosed this on Tuesday, while addressing ICT journalist at the NIPOST Headquarters in Abuja.

He however, dismissed the speculation about conflict between the Federal Inland Revenue Service, NIPOST and the States Board of Internal Revenue over the remittances of stamp duties, affirming that NIPOST has the sole responsibility of producing, printing and sales of stamp duties, whether in manual or electronic format.

The NIPOST boss informed that the agency is currently undergoing a digital transformation designed to change the narratives of postal services in the country, assuring that the Post under his watch would not be allowed to die.

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With the deployment of ICT solutions/platforms, he said NIPOST has already attained about 70 percent automation of all its systems and operations across the country and by 2020 the systems would be fully automated.

‘‘As the largest government owned institution in the country with its operations dating back to 1934, NIPOST is currently leveraging on digital technology to address the socio-economic problems confronting the nation.

“ 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 is 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 explained.

Adegbuyi, who vowed to resist total privatization of NIPOST because of the Social Responsibility Role it plays said only partially commercialization would be allowed as that would reposition NIPOST for a competitive future and become huge revenue source for the government.

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To achieve the set objectives, Adegbuyi said NIPOST management is currently embarking on infrastructures revamp, development and deployment of disruptive digital solution platforms, training and retraining of its workers among others to change the narratives of postal service in Nigeria.