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Governor Akinwunmi Ambode-led Lagos State Government has approached the Supreme Court to challenge the collection of N50 stamp duty by President Muhammadu Buhari-led Federal Government on every N1,000 transaction conducted by customers in all commercial banks operating in Lagos State.
Attorney General and Commissioner for Justice, Mr. Adeniji Kazeem, in an appeal filed before the apex court is contending that it ought to be the one collecting the N50 stamp duty rather than the Federal Government.
The state, based on Section 4(1) of the Stamp Duties Act, Cap S8 Laws of the Federation of Nigeria, 2004, wants the apex court to make an order compelling the Federal Government to remit to it all such monies it had so far collected as stamp duty on bank transactions conducted within the Lagos State territory.
- PUNCH
Attorney General and Commissioner for Justice, Mr. Adeniji Kazeem, in an appeal filed before the apex court is contending that it ought to be the one collecting the N50 stamp duty rather than the Federal Government.
The state, based on Section 4(1) of the Stamp Duties Act, Cap S8 Laws of the Federation of Nigeria, 2004, wants the apex court to make an order compelling the Federal Government to remit to it all such monies it had so far collected as stamp duty on bank transactions conducted within the Lagos State territory.
- PUNCH
