News: NATIONAL ASSEMBLY PASSES NIPOST AMENDMENT BILL ON STAMP DUTIES ACT - Dotun`s Blog

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News: NATIONAL ASSEMBLY PASSES NIPOST AMENDMENT BILL ON STAMP DUTIES ACT

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The National Assembly has passed the Stamp Duties (Amendment) Bill of 2018.

The new bill seeks to holistically amend the 2004 Stamp Duties Act, which has become obsolete.

The management   made the disclosure in a statement   

signed by Mr. Franklin Alao, the general manager, Corporate Communications.

According to him, the new stamp duties will ensure compliance to related matters of the present day Nigeria.

“The green chamber of the National Assembly (House of Representatives) had earlier passed the Amendment.

The new bill has taken into consideration the realities of the present time and has factored in the use of technology to  electronically transact business “

In the same vein, he said the new bill will enable NIPOST to increase her revenue generation to the federal government.

“NIPOST’s core business includes mail delivery of all kinds, logistics, financial service, issuing adhesive postage, electronic stamp and implementing the 

stamping protocol process for enforcing the use of stamps to denote documents, receipts, and other registrable instruments”

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