The Nigeria Employers Consultative Association (NECA) has cautioned the Federal Inland Revenue Service (FIRS) against the proposed enforcement of the stamp duty act.
NECA director general, Olusegun Oshinowo, recalls that a Court of Appeal had directed the revenue agency to stop charging 50 kobo charge on every transaction.
Central Bank of Nigeria (CBN) had raised the stamp duties from 20 kobo per transaction to 50 kobo.
Oshinowo accused the apex bank of disobeying an order of a court which to the organized private sector is worrisome.
He said, “the outright disobedience of court order by the CBN is not good for the country, especially as it sends a wrong signal to foreign investors and sets back the efforts of government at promoting the rule of law.
“The CBN is portraying itself to be bigger than the law of the land.”