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Again, NIPOST Barks at FIRS Over Stamp Duty

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By Adedapo Adesanya

The Nigerian Postal Service (NIPOST) has fired back at the Federal Inland Revenue Service (FIRS) over which of the two government agencies collects stamp duties.

Last Tuesday, the FIRS’s Director of Communication and Liaison, Mr Abdullahi Ismaila Ahmad, while responding to tweets by Chairperson of the board of NIPOST, Mrs Maimuna Abubakar, said the tax agency was more than ever determined to ensure that all monies collected by NIPOST into its “illegally” operated Stamp Duties Account were fully remitted into the federation account.

But in a statement issued on Sunday in Abuja by the General Manager, Corporate Communications, NIPOST, Mr Franklin Alao, the postal organisation disputed claims made by the tax body that it will ensure that any kobo not accounted for in that account is legally recovered in line with the charge of President Muhammadu Buhari to the recently inaugurated Inter-ministerial committee on the recovery of stamp duties from 2016 till date.

Mr Alao explained that the account in question was opened by the Central Bank of Nigeria (CBN) under the Treasury Single Account (TSA) in consultation with the office of Accountant General of the Federation (AGF), in the name of NIPOST Stamp Duties Collection Account when CBN gave instruction to Deposit Money Banks (DMBs) to commence the deduction of N50 stamp duties from bank customers accounts.

He stated that the account belongs to the Nigeran government, adding that NIPOST does not have access to whatsoever monies lodged into the account, as such the question of illegality and misappropriation does not arise.

Mr Alao insisted that under the extant laws of Nigeria, NIPOST Act 2004 provides and vest solely in NIPOST the power to print adhesive postage stamps, which is the instrument for denoting documents and other transaction instruments in compliance with the provisions of the Stamp Duties Act.

“Historically, the post in Nigeria, just like in the comity of nations, has at different times produced adhesive postage stamps and revenue stamps for the federal government.

“It is to this end that NIPOST seeks the proper implementation of the Finance Act. NIPOST is therefore taken aback when FIRS took to the Twitter to call out the Chairman, NIPOST Board, Barrister Maimuna Yaya Abubakar, who only tried to bring the attention of the Service and public that NIPOST would be emasculated if the Act is not properly implemented.

“More so when there was a meeting between FIRS and NIPOST in July 2013 in the office of the Executive Chairman of FIRS and resolution reached that NIPOST is statutory duty-bound to provide the stamps to be used by FIRS at both federal and state levels. We wish to reassure members of the public that NIPOST as a responsible government institution has always operated within the ambit of the law.

“We, therefore, urge the general public to disregard the statement credited to the Director, Communication and Liaison, FIRS on the issue,” he said.

The two government agencies had in recent times engaged each other in media war over whose responsibility it is to collect the Stamp Duty charge for the government.

This kick-started when Mrs Maimuna Abubakar, in her tweets last Sunday alleged that FIRS was stealing NIPOST idea.

She said NIPOST was saddled with the responsibility of printing and providing postage stamps for payment of postage tariff and payment of stamp duties by the decree No. 18 of 1987.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Tinubu Seeks Senate Confirmation of Tegbe as Power Minister

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Joseph Tegbe

By Adedapo Adesanya

President Bola Tinubu has written to the Senate seeking confirmation of the nomination of Mr Joseph Tegbe as the Minister of Power in the Federal Republic of Nigeria.

The request, read by the President of the Senate, Mr Godswill Akpabio, during plenary on Tuesday, was conveyed in a letter addressed to the Senate.

President Tinubu, citing Section 147(2) of the 1999 Constitution (as amended), which empowers the President to nominate ministers subject to Senate confirmation, urged lawmakers to give the request prompt consideration.

Last week, Mr Tinubu nominated Mr Tegbe as the Minister of Power, following the resignation of Mr Adebayo Adelabu to pursue a governorship ambition in Oyo State under the All Progressives Congress (APC) in the 2027 polls.

In the same vein, President Tinubu sought confirmation of two other nominees: Ambassador Sola Enikanolaiye as Minister of State, as well as Mr Rabiu Abdullahi Umar as the chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

“The nomination has been transmitted to the Senate for screening and confirmation in accordance with the Constitution,” a statement by presidential spokesperson Mr Bayo Onanuga read in part.

Like his predecessor, Mr Tegbe is from Oyo State. He is a fiscal and economic reform expert with over 35 years of experience spanning the public and private sectors.

A former Senior Partner and Head of Advisory Services at KPMG Africa, he led wide-ranging initiatives in fiscal policy reform, institutional transformation, and governance in that firm.

Mr Tegbe has also advised key government institutions and private sector organisations on strategic reforms, regulatory frameworks, and investment structuring.

Until his nomination, he served as the Director General and Global Liaison for the Nigeria-China Strategic Partnership (NCSP), and was responsible for strengthening bilateral development cooperation between Nigeria and the People’s Republic of China.

Key priority for Mr Tegbe, if confirmed, will be to institute and execute policies that can help fix one of Nigeria’s most crucial sectors.

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Court Orders SERAP to Pay DSS Operatives N100m For Defamation

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By Adedapo Adesanya

Justice Halilu Yusuf of the Federal Capital Territory High Court, Abuja, has awarded N100 million in damages against the Incorporated Trustees of the Socio-Economic Rights and Accountability Project (SERAP).

In his judgment, Justice Yusuf held that two operatives of the Department of State Services (DSS) were right to institute a defamation suit against SERAP.

In the suit, filed in the names of the two DSS officials, Ms Sarah John and Mr Gabriel Ogundele, the claimants accused SERAP of making a false allegation that they invaded its office in Abuja on September 9, 2024.

The court also ordered the organisation to tender a public apology to the two operatives, to be published in two national newspapers and broadcast on two television stations.

In addition, the court awarded N1 million against SERAP as the cost of litigation.

The judgment further stipulated a 10 per cent interest on the damages until the sum is fully paid.

The case follows a dispute that began in September 2024 when SERAP alleged that DSS officers “unlawfully invaded” its Abuja office.

In a post on its X account, the group said, “Officers from Nigeria’s State Security Service are presently unlawfully occupying SERAP’s office in Abuja, asking to see our directors.”

It added, “President Bola Tinubu must immediately direct the SSS to end the harassment, intimidation, and attack on the rights of Nigerians.”

The DSS, however, denied the claims.

It said the visit by its officers was routine and meant to engage the organisation’s new leadership.

The officers later sued, insisting that “no invasion occurred” and that the claims damaged their reputation and led to disciplinary action.

However, SERAP maintained its position.

In a later statement, it said, “We stand by our statements of defence and statements on oath,” insisting that DSS officers “unlawfully invaded our Abuja office.”

During court proceedings, witnesses reportedly said no physical assault took place.

SERAP’s Deputy Director, Mr Kolawole Oluwadare, told the court the claims were based on information from a staff member.

Counsel to the DSS officers, Mr Oluwagbemileke Kehinde, urged the court to grant all reliefs, arguing that the claimants had “substantially proved their case.”

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UK Court Freezes Nigerian Oil Trader’s Global Assets Over $40m Debt

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Abdulrahman Musa Bashar

By Adedapo Adesanya

A court in the United Kingdom has taken sweeping action against a Nigerian oil trader, Mr Abdulrahman Musa Bashar, freezing his assets worldwide in a bid to secure repayment of a long-running debt dispute tied to failed fuel transactions.

The order, issued by the High Court in London, prevents Mr Bashar and his firm, Ultimate Oil and Gas FZCO, from selling, transferring, or otherwise dealing with assets across multiple jurisdictions, including Nigeria, the United Arab Emirates, the United Kingdom, and France. The restriction applies up to the value of the outstanding liability, with disclosed holdings estimated at nearly $170 million.

According to Business Day, the dispute traces back to oil trading agreements between 2022 and 2023, when Dubai-based Petrichor Energy supplied gasoil and Jet-A1 aviation fuel to Ultimate.

Court filings indicate that while deliveries were completed, payments were inconsistent and ultimately fell short, leaving the supplier to pursue legal and arbitration routes to recover its funds.

In an attempt to resolve the matter, Mr Bashar entered a personal repayment agreement in early 2024, backing the company’s obligations with his own guarantee.

He also issued a series of signed cheques as security. However, these measures failed to yield results, as the debt remained unsettled and the cheques were rejected upon presentation.

The court’s decision to impose a global freeze was influenced by what it described as troubling conduct during the dispute. Evidence suggested that assets were being sold without proceeds going toward the debt, alongside concerns that not all holdings had been fully disclosed.

The newspaper reported that testimony also pointed to an alleged warning from Mr Bashar that he might move assets out of reach if negotiations broke down, an assertion the court treated as a credible risk of asset dissipation.

The ruling adds to a growing list of legal challenges facing the businessman. He has previously been sanctioned by English courts for failing to comply with orders in a separate commercial dispute, and was also convicted in Dubai, the UAE, in a different cheque-related case.

With the freezing order now active, Petrichor has expanded its recovery efforts beyond the UK, initiating enforcement actions in both the UAE and Nigeria.

The move aims to block any pathways through which assets could be shielded, while also enabling seizure or control where legally permitted.

In a further escalation, the English court has directed two Nigerian-linked companies associated with Mr Bashar to grant access to a Delta State storage facility, allowing the creditor to recover fuel cargoes tied to the unpaid transactions. Failure to comply could trigger additional legal consequences, including contempt proceedings.

Despite ongoing attempts by Mr Bashar and his company to overturn the freezing order, the court has so far declined to lift the restrictions, leaving the enforcement process firmly in motion.

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