In a significant development, the Attorney Generals of all 36 states in Nigeria have joined forces with the Central Bank of Nigeria (CBN), the Attorney General of the Federation (AGF), and the School of Banking Honours (SBH) to challenge Kasmal’s claim of ₦579.131 billion from Stamp Duty monies.
The case, which has been adjourned to April 28, 2025, centers around Kasmal’s alleged entitlement to 15% commission on Stamp Duty collections, despite a 2016 Appeal Court judgment nullifying NIPOST’s authority to engage Kasmal in any role for Stamp Duty collections.
According to the Notice of Appeal filed by the 36 State Attorney Generals, the lower court’s decision to hear the case by Originating Summons, despite hostile and disputed facts, was a miscarriage of justice.
“The Judge erred in law by entertaining and granting reliefs for Kasmal when materials before the Court did not disclose its locus standi to institute the case and claim reliefs,” the appeal stated.
The Attorney Generals also argued that Kasmal did not present any evidence to support its claims, and that the company’s entitlement to the funds was not justified.
“Kasmal has not presented any documented NIPOST Contract to substantiate its scope of engagement, tenor of engagement, commission payable, and other information that could assist the Court for decisions on its claims against Stamp Duty of government,” the appeal added.
SBH, which holds the copyright certificate for all Stamp Duty collections from the banking sector, has also filed an appeal, alleging that Kasmal’s claims are an abuse of court process.
“Kasmal’s continued abuse of court process is unacceptable, and we will do everything in our power to protect our rights and interests,” said a spokesperson for SBH.
The case has sparked concerns about Kasmal’s legitimacy in claiming commission on Stamp Duty collections, with many questioning the company’s entitlement to the funds.
“It is worrisome that Kasmal has not presented any evidence to support its claims, and we hope that the Appeal Court will do justice to this matter,” said a source close to the case.
The outcome of the appeal is eagerly awaited, as it will have significant implications for the management of Stamp Duty revenues in Nigeria.
