Senate investigates trillions in unaccounted stamp duty collections
The Senate has initiated a comprehensive probe into stamp duty revenue collection from 2016 to 2024, citing concerns over trillions of naira that remain unaccounted for. Senator Ahmed Aliyu Wadada, leading the investigation, stated the legislature must ensure the proper utilization of all generated funds.
The Senate Public Accounts Committee has requested detailed records from all commercial banks, the Central Bank of Nigeria, and the Federal Inland Revenue Service. It has also asked state governors, through their forum, to disclose all stamp duty proceeds received.
Wadada explained that the committee is reconciling submissions to identify any discrepancies. All concerned agencies must respond to the information requests by a specified November deadline. The senator affirmed that the investigation’s goal is to guarantee full accountability for public revenue.
