Acting CBN Governor, Folashodun Shonubi in Trouble with Governors Over Stamp Duty

Folashodun Shonubi, acting Governor of the Central Bank of Nigeria (CBN) is in trouble with state governors over non-payment of Stamp Duty, ENigeria Newspaper reports.

The issue of the accumulated funds generated from Stamp Duty since 2015 when President Buhari took over has been on the front burner since during the tenure of disgraced CBN governor, Godwin Emefiele and the issue which remains unresolved appears to be making a comeback as state governors are now ready for a long battle with the CBN under acting Governor Folashodun Shonubi and the federal government especially as the country undergoes cash crunch which continues to bite even harder daily.

A source, who spoke to ENigeria Newspaper reports that the governors in the country are getting restive over the non-payment of Stamp Duty proceeds due to the states.

A source who is a close aide to one of the Northern governors told ENigeria Newspaper that for the period from 2015 to date over ten trillion Naira have been accumulated and the Federal Government has over time accessed the funds without paying the states their dues.

Asked what line of action the states will take if the payments are not made, the source said the governors although in dialogue with the federal government will not hesitate to head to court as they strongly believe the acting Governor of the CBN, Mr. Folashodun Shonubi has been coy with the matter and may not be advising President Tinubu correctly.

The aide said the Governors are particularly disturbed that proceeds from stamp duty which is a revenue stream for all tiers of government have been withheld by the CBN and the Federal Government, noting that “this is money every state can use now especially now that citizens are hurting instead of the token that the Federal Government is handing out to the states. This is unfair to our citizens”, he concluded.
This is a developing story, more to come shortly.

 

BREAKING: NNPP Crisis Deepens, As Party Suspends Kwankwaso

The crisis in the New Nigeria Peoples Party (NNPP) continues to deepen as the party finally suspends Rabiu Kwankwaso, ENigeria Newspaper reports.
The internal wrangling in the NNPP has been on for a while with the party’s e Board of Trustees once accusing Rabiu Kwankwaso of anti-party activities.

ENigeria Newspaper reports that Rabiu Kwankwaso founder of NNPP and Presidential candidate of the party at the just concluded Feb. 25 presidential election came under heavy criticism by member of the BOT of the party for reportedly affiliating with the ruling All Progressives Congress (APC), which the party considers as anti-party activities. READ MORE