Presidency: Alleged Misappropriation of N89.09tn Stamp Duties by FG Unfounded

* Says entire networth of nation’s financial sector less than N50tn

Deji Elumoye in Abuja

The Presidency has reacted to allegations of misappropriation or embezzlement of Stamp Duties funds and cover ups by officials of the administration, made on Friday by a member of the House of Representatives, Hon Gudaji Kazaure, saying it’s a figment of his imagination.

Kazaure, who claimed to be Secretary of the Presidential Committee on the Reconciliation and Recovery of All Stamp Duties, had alleged a connivance by some critical operatives of the administration, including the Central Bank of Nigeria (CBN), the Office of the Secretary to the Government of the Federation (OSGF) and the Protocol Department of the State House, to prevent him from briefing President Muhammadu Buhari on findings so far made.

Speaking with reporters in Hausa language on Friday, Kazaure said he was blocked from seeing President Buhari in order to brief him on progress report on efforts to trace trapped the said N89.09trillion.

Responding to Kazaure’s allegations last night, Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu, said it was unbelievable that a member of the Parliament would claim to be Secretary of  an Executive Committee, adding that such mix would be unconstitutional.

He further pointed out that President Buhari had since dissolved the Committee Kazaure is claiming to be its Secretary, but noted that there is another Committee, Chaired by the Attorney-General of the Federation and Minister of Justice, set up in June 2020 by the President, which is still executing the task of reconciling Stamp Duties accounts.

Shehu’s words: “In the first instance, the committee on the alleged loss of stamp duty funds he is talking about is an illegal committee, it was dissolved on directive of the President.
“Anyone familiar with our constitution will find it curious that a member of the Parliament is the secretary of an Executive Committee. It suffices to say that the entire networth of the nation’s financial sector, the assets of the banking sector put together, is not worth N50 trillion, not to talk of the kind of money he is talking about.

“The central bank assures that there is absolutely no problem, whatsoever, with money from Stamp Duties.
“There is a committee duly set up by the President in June 2020, chaired by the Attorney-General and Minister of Justice and the Secretary is the Chairman of the Federal Internal Revenue Service (FIRS) that is currently reconciling the stamp duty accounts. The job is not finished.

“As it is, there is nothing to give credence to wild accusations made against the administration.
“Following speculation and the many allegations, earlier investigations were commissioned by government departments and agencies, including the Ministry of Finance, the Revenue Mobilisation and Fiscal Service, the Economic and Financial Crimes Commission (EFCC), the Nigerian Deposit Insurance Corporation and nothing sensational has been discovered by them.

“Issues of reconciliation are being handled”.
On the allegation that Kazaure had been prevented from meeting with the president in his efforts to expose his findings to him, the presidential spokesman said there could be no truth in that as the legislator is known to be a friend of the president, with an unfettered access whenever he desires to see him.

He said: “As for Hon. Gudaji seeing the president, I’ll like to assure that there is nobody that can stop him from seeing the number one citizen. Hon. Gudaji is a friend of the president. He sees him as many times as he wants and he is welcomed to come and see him again and again.”