BREAKING: State Attorneys General Sue Nigeria’s Attorney-General Malami Over Non-remittance Of N176billion From Stamp Duties.

The attorneys general in Nigeria’s 36 States have sued the Attorney General of the Federation and Minister of Justice, Abubakar Malami, for non-remittance of stamp duties fund generated from the states.

According to a court document, the attorneys sued Malami because funds generated from stamp duties are not remitted into states’ coffers, People’s Gazette reports.

They sought an order of the court to mandate Malami to pay N176 billion for the backlog of stamp duties received between 2015 and 2020.

The document read partly, “An order of this honourable court directing the defendant to pay over to the plaintiffs all the sum of monies amounting to one hundred and seventy-six billion, sixty-seven million, four hundred thousand naira (N176,067,400,000,00) representing ascertained and admitted collected stamp duties on individual persons’ transactions within their respective states for the period of 2015 and 2020, and thereafter till the time of the judgment of this honourable court or any other sum as the plaintiffs may be found entitled by the honourable court.”

The attorneys general also sought an order of perpetual injunction, “restraining the defendant by himself, privies, agents or any persons by whatever name or howsoever called from appointing anyone for the purpose of collecting Stamp Duties on individual persons’ transactions within the respective states of the plaintiffs henceforth.”

They further sought to declare that Malami had no right to withhold stamp duty transactions from individuals in their states.
In the document, they argued that Malami should not be allowed to collect, administer or collect stamp duties.

“A declaration that the defendant is not entitled to collect, administer, or keep the proceeds of any stamp duties on transactions involving individuals within the respective states of the plaintiffs or any manner interfere with the plaintiff’s right and authority in the administering the provision of Section 4(2) of the Stamp Duties Act Cap. S8 Laws of the Federation of Nigeria,” the document explained.

They sought the court to declare their entitlement to receive 85 per cent of stamp duties generated from electronic money transfer levies and others.
They demanded a declaration that “the plaintiffs are entitled to 85% of all stamp duties collected on electronic money transfer levy, on electronic receipts or electronic transfer for money deposited in deposit money banks and financial institutions, on any type of account to be accounted for and expressed to be received by the person to whom the transfer or deposit is made in the plaintiffs’ respective states.”

UK COURT GRANTS REFUND OF $200M TO NIGERIA

Gas plant flare

A London commercial court on Tuesday ordered that Nigeria be given the $200m (£156m) it deposited last year pending its appeal against the $10bn awarded to a firm over a failed gas plant.

Process and Industrial Development (P&ID), a British Virgin Islands-registered firm, had in 2017 won a $6.6 billion arbitration award after the West African country failed to adhere to the terms of the 2010 contract.

Last year, a UK court ruled that Nigeria’s assets could be seized if it did not pay the bill that had accrued to about $10bn.

Nigeria was allowed to appeal but told to pay a deposit of $200m.

On Monday, the Central bank of Nigeria (CBN) announced that the “London Commercial Court [had] ordered the release of the $200m guarantee”.

“The court also awarded a £70,000 ($90,000) cost in favour of Nigeria in addition to an earlier award of £1.5m,”

Nigeria’s Justice Minister, Abubakar Malami, said in a statement that the government is happy with the successes recorded so far in the case.