News
Stamp Duty Is Revenue Stamp, Not Postage Stamp, LIRS Chief Clarifies

Mr Tokunbo Akande, Special Adviser to the Executive Chairman of the Lagos State Internal Revenue Service, LIRS, has clarified the misunderstanding about stamp duty as he maintained that it is a revenue stamp and not a postage stamp.

Akande made this known while featuring as a guest on The Tax Talk programme on Channels Television recently.
He said contrary to public opinion, stamp is not just for courier services as it is meant to certify the underlying transaction between two entities, whether they are corporate entities or individuals, thus, the framework for stamp duty is to verify the documents for underlying transactions and ensure that they are admissible in court in case any disputes arise.
Akande noted; “It’s interesting to note that stamp duty, a tax law that dates back to 1939, is still in effect today. Although it was reenacted in 2004 and has been updated over time through the Finance Act, the basic premise remains the same.
“Stamp duty places the responsibility on those involved in certain transactions to provide documentation that explains the details of the transaction. For example, if someone purchases an item from another person, a receipt is given to show the transaction.
“This receipt must be stamped to be considered admissible evidence in court in case any disputes arise. In the past, the postal stamp was used to denote the stamp duty.”
Akande, who noted that Stamp duty has contributed significantly to revenue generation in Lagos State, as the state has generated over N5 million from stamp duty over the past few years, said the agency believes there is still room for improvement.
While stating that the agency is considering the introduction of revenue stamps for wholesalers and distributors for receipts over N10,000 in the state, he noted; “This approach was previously utilized in the 1970s, and we are eager to revitalize it. We are fully committed to engagement and process improvement.
He said the agency has taken the step of digitizing its stamp duty operation by transitioning from manual to electronic processes.
According to Akande, “The Joint Tax Board (JTB), which oversees all Internal Revenue Services (IRSs), the Federal Inland Revenue Service (FIRS), customs, immigration, and other related bodies, has been at the forefront of promoting awareness about stamp duty in general.
“LIRS (Lagos State Internal Revenue Service) has also made significant efforts in this area by holding town hall meetings, issuing public notices and guidance notes, and engaging with professional bodies.
“However, despite these efforts, the message has not been fully received. It is important to note that the law requires that all transactions between two entities must be stamped, and even items such as cheques have a small stamp on them.
“This is because they may be admissible in court. Therefore, it is your responsibility to ensure that any documents related to transactions above a certain level of expenses are properly stamped, as failure to do so renders them as ordinary paper.
He said LIRS has expanded its presence across various states, with offices conveniently located to better serve taxpayers as its officials are proud to offer assistance with legal proceedings and have desks located in all the courts of Lagos.
“Our team of experts ensures that all necessary documents are properly stamped and verified by the commissioner for stamp duty. We take record-keeping seriously, as it helps to ensure the authenticity of all documents that pass through our hands.
“Proper stamping of documents is essential, whether you’re borrowing money from a bank or renting a property. Failure to do so could render them inadmissible in court. We are here to help certify your documents and ensure they have the necessary stamps to make them legally binding,” Akande submitted.
News
CISA Asks NDPC, Police to Act on Alleged Data Breach by NIPSS

Citizens Initiative for Safety Awareness (CISA), advocacy group focused on security, data protection, and counter-terrorism, has urged the Nigeria Data Protection Commission (NDPC) to provide an update on a petition alleging a cybersecurity breach and unlawful access to private communications involving officials of the National Institute for Policy and Strategic Studies (NIPSS).

Mr Chidi Omeje, national coordinator, in a letter dated April 10, 2026, observed no response from the commission so far.
Filed on July 1, 2025, by Mr Yushau A. Shuaib, the petition claims unauthorised access, interception, and use of private digital correspondence belonging to him and PRNigeria, his company.
The complaint named Barrister Nima Salman Mann, Rear Admiral Abubakar Abdullahi Mustapha, and Professor Elias Wahab concerning the alleged breach. Such incidents are outlined in the Nigeria Data Protection Act (NDPA) 2023, regarding data privacy, cybersecurity safeguards, and the protection of sensitive information.
CISA said if confirmed, the alleged actions contravene Nigeria’s data protection framework, with implications for data governance, safety of confidential media sources, and public trust in institutions.
It requests the NDPC to clarify the status of the probe, disclose any interim findings, and cite measures to prevent similar breaches.
The organisation believes the matter has evolved beyond an individual complaint, describing it as a test of the government’s commitment to enforcing its data protection laws, especially within ministries, departments, and agencies.
CISA also appealed to Tunji Disu, inspector general of Police, to order an investigation into the alleged cybercrime.
In a statement, Omeje criticised the “prolonged delay” by the Force Criminal Investigation Department (FCID) in acting on a petition submitted since June 2025.
The group said, despite “credible evidence,” the police had yet to invite or question the individuals mentioned. Pointing out that two of the officials share membership in the National Institute (mni) with the former DIG at the FCID, CISA raised concerns about a possible conflict of interest.
Omeje clarified that the petition was different from the civil suit at the Federal High Court over Mr Shuaib’s withdrawal from the NIPSS programme.
“An elementary legal principle holds that a civil suit cannot be a bar to criminal investigation or prosecution,” he noted.
CISA called on the police to act in accordance with due process, advising the authorities to uphold the rule of law and restore public confidence.
It contends that failure to act decisively could erode trust in law enforcement and reinforce perceptions of a two-tier justice system.
News
Kaspersky Reports Online Scam Exposure Remains Widespread Despite High Levels of Self-assurance

A recent Kaspersky survey highlights a considerable gap between consumers’ confidence in identifying online scams and their actual exposure to cyber threats.

According to the findings, more than one-third of respondents (36%) in the Middle East, Turkiye and Africa (META) region reported encountering an online scam or attempted scam within the past 12 months, underscoring the persistent and evolving nature of digital risks.
Worryingly, these threats are far from hypothetical: 37% of surveyed users in the META region have fallen victim to online scams resulting in data compromise or financial loss.
Among those affected, nearly half (49%) experienced scams via social media platforms, while 48% reported investment or financial fraud attempts, 41% – scam associated with fake delivery or postal messages.
Phishing emails remain a significant threat as well, impacting 43% of respondents. These figures point to the increasingly diverse tactics used by cybercriminals to target individuals across multiple channels.
Despite this, confidence levels remain strikingly high: 80% of respondents in META believe they can recognise a scam, with 34% expressing strong certainty in their ability to avoid falling victim. This overconfidence may contribute to risky online behaviour and reduced vigilance.
When it comes to protective measures, respondents demonstrate mixed habits. While 57% report using strong and unique passwords, only 36% consistently check URLs before clicking, and 34% avoid public Wi-Fi for sensitive activities.
Notably, fewer than half (40%) use a dedicated security solution, which means a significant amount of people can face negative effects from cyberthreats. Alarmingly, 6% admit they do not use any specific security measures at all.
Regular maintenance of digital security tools also appears inconsistent. Just 35% of respondents in the META region update passwords and review security settings on a regular basis – at least once a month or more often. Meanwhile, 41% do so only occasionally, 19% rarely, and 5% never take such actions.
“The survey findings highlight a critical need for increased awareness and stronger adoption of comprehensive cybersecurity practices. While individual habits such as password hygiene and cautious browsing are essential, they should be complemented by reliable security solutions and regular security updates to effectively mitigate modern cyber threats,” comments Seifallah Jedidi, Head of Consumer Channel in the Middle East, Turkiye and Africa at Kaspersky.
News
Tinubu Tasks NRS to Restore Public Trust Amid Fiscal Changes

Against a backdrop of public criticism regarding ongoing tax reform policies, President Bola Tinubu on Tuesday charged the Nigeria Revenue Service to restore public confidence and ensure fairness in the implementation of the national tax system.

Tinubu gave the charge while commissioning the 16-storey head office complex of the revenue service in Abuja.
“No government can demand trust from its citizens when taxation is opaque, inefficient or unjust,” President Tinubu said.
The president commended Nigerians for enduring the economic reforms introduced by his administration, stating that no serious nation can achieve lasting prosperity on a weak and fragmented revenue system.
He stated that tax reform policies must be implemented to earn the confidence of Nigerians at home and abroad. He charged the revenue service to ensure that the policy embodies a new ethos.
“It must not only collect revenue, it must build trust, it must ensure fairness and it must demonstrate that government can be accountable, efficient and responsive,” Tinubu said. “It must become a model institution that earns confidence at home and respect abroad.”
The president thanked the Nigerian people for their resilience and perseverance. He recalled his inauguration day pledge to move Nigerians from the “darkness of uncertainty into the clear light of Renewed Hope”.
“I committed that we would confront structural weaknesses, restore fairness and build an economy anchored on discipline, equity and opportunity,” he said. “Today I stand before you to reaffirm that these words were not rhetoric.”
He described his inauguration pledge as a “contract with the Nigerian people”, adding that the gathering was not merely to commission a building but to mark a milestone in a larger national journey.
Tinubu explained that the administration took the bold decision to embark on far-reaching tax and fiscal reforms to simplify the system, eliminate distortions and create a transparent, investment-friendly environment.
“Our direction is clear,” he said. “A revenue system that rewards enterprise, supports growth and ensures that every contribution to the national cause is matched by value for the people.”
Tinubu described early results as “fantastic”, commending the revenue service for improved fiscal stability, stronger foreign reserves and increased investor confidence.
According to the president, these gains are the product of deliberate policy and a commitment to long-term prosperity. He noted that the new headquarters is a symbol of professionalism, transparency and efficiency.
“It reflects our resolve that institutions must rise to meet the demand of reforms and the expectations of the Nigerian people,” he said.
President Tinubu called for a better future, urging those who follow to build on a history greater than the vision of their forebears.
He noted that the completion of the building is a statement that Nigeria is no longer content with promises. “We are delivering progress,” he said. “History will not judge us by what we say, but by what we do.”
Tinubu stated that the work of national renewal demands consistency, courage and collective resolve. He added that the nation’s future is determined by the choice of reform, discipline and prosperity.
The president assured that his administration will remain focused until the promise to Nigerians is matched by the performance of its institutions and the prosperity of its people.
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