The minister, who briefed reporters after the weekly Federal Executive Council meeting in Abuja, said her Ministry sought approval for a project to manage duties waivers through an electronic portal.
She explained that the Stamp Duties collected by commercial banks had to be warehoused at the CBN due to the legal battle over the custody of the fund between the Nigerian Postal Service and the Federal Inland Revenue Service . “The Finance Bill has made the FIRS as the collecting agency. So, that addresses the issue of the litigation. So, going forward, the revenue should be remitted as they are being collected, unlike what has happened in the past that the funds were kept in a special account because of the litigation that is going on.”
“This portal will be managed by both the ministry as well as the Nigeria Custom Service. The vehicle identification number will be available to any user to access to find out information on vehicles. Fashola said the Federal Government approved N40.4 billion for the construction of two roads in Kano and Bauchi states.
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