Stamp Duties: 15 banks owe over N1. 5billion for under-remittance – Reps Report

Fifteen banks owe the federal government a total of N1, 586,662,
611 in under remittances of Stamp Duties funds.

This was part of the findings in the report of the Hon. Abubakar
Ahmed-headed Ad hoc committee that investigated the Non-remittance
of Trillions of naira of Stamp Duties into the federation
account.

The report though was slated for consideration at the Committee
of the whole of Wednesday in the Green chamber, it was however
postponed till a later date.

The banks are Guaranty Trust Bank (N198,326.300); Standard
Chartered Bank (N3,658.193), Citi Bank (N1,860.,850), Stanbic IBTC
(N231, 094,565), Zenith Bank (N265, 635,650), Fidelity Bank (N32,
888,400), Keystone Bank (N24, 471, 050) and United Bank for Africa
(N81.087,149).

Others are ECO bank (N78, 527, 004); Diamond Bank (N545,873,
950), Unity Bank (N40,099,100), Jaiz Bank (N2,436,150), Access Bank
(N66,092,350), Skye Bank (N11,057,700) and Polaris Bank
(N2,907,550).

The report noted all banks were found not to have made full
disclosure in Stamp Duties collections and remittances and should
be further investigated.

It further states: “All the Banks that had cases of delayed
remittances should be penalized.

“In view of the apparent lack of transparency on the part of
most financial institutions, the Central Bank of Nigeria (CBN)
should strengthen its supervisory activity to ensure that Financial
institutions report and remit all government revenues correctly and
promptly.”

The report urged that defaulting banks “be made to pay with
interests the amount they under-remitted for the period under
review.”

Similarly, the lawmakers said that First Bank, First City
Monument Bank, WeMA Bank and Suntrust Bank disregarded the summons
of the committee and neither sent representation nor appeared at
the public hearing, hence it recommended that the listed banks be
further investigated.

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Troops Nab 22 Armed Bandits in Sokoto

Synergy between 8 Division Nigerian Army and sister security
agencies in Sokoto state is yielding positive results in the fight
against armed banditry and other forms of insecurities especially
in Sokoto State.

Consequently, between the 19 to 21 of May 2019, 22 criminals
were arrested for various offences ranging from armed robbery,
banditry, possession and trafficking in hard drugs, and illegal
possession of firearms amongst others.

On the 21st may 2019, a joint patrol team comprising of troops
of 8 Division and other security agencies based on credible
information conducted a Cordon and Search operation in Didan Dere
Bypass area and apprehended a suspected drug peddler who in turn,
led the troops to the hideout of a notorius drug kingpin at Kofa
Kware. A search conducted in the premises, the following items were
discovered:
a. 10 x laptops
b. 22 x different sizes parcels of substance suspected to be Indian
hemp

Similarly, based on intelligence report another cordon and
search operation was conducted yesterday at Nakasari Barebare area
that led to the arrest of suspected drug baron. Items recovered
from his compound included:
a. A Toyota camry car with registration number KUJ 658 AP
b. 2 x Techo phones.

Earlier on 19th May 2019, a joint patrol team on patrol in
Sokoto metropolis, busted a notorious armed robbery gang led by one
Zayyanu aka ‘Dankane’ which hitherto terrorised residents of Sokoto
township and environs.

Similarly on 20th May, 2019, another joint patrol team, while on
routine Patrol in Sokoto town arrested 6 suspected robbers with
assorted weapons and other illegal substances. The following were
recovered from them:
a. 5x knives
b. 5x cutlasses
c. 4x mobile phones
d. 8x sim cards of various Service providers
e. 8 x packs of Indian hemp
f. 10 x packets of hard drugs
g. Assorted charms
h. 30 pieces of various keys.

Again, a patrol team along Gusau – Sokoto road intercepted
highly suspicious illegal aliens in a Toyota Avensis car conveying
8 Cameroonian nationals on their way to Niger Republic via Ilela
border. The individuals were without any valid identification and
could not explain their mission in the area.

The General Officer Commanding uses this medium to encourage
citizens to promptly report suspicious movements and activities in
their localities.

The GOC equally wishes to reaffirm the determination and resolve
of the Division to ridding the state of all forms of
criminality.

AYOBAMI ONI-ORISAN
Lieutenant
Assistant Director
Army Public Relations
1 Brigade