News
CBN, NIPOST Defrauding Nigerians with Stamp Duties- NECA

Nigeria Employers’ Consultative Association (NECA) has called on the federal government to impress on the Central Bank of Nigeria (CBN) and the Nigerian Postal Service (NIPOST), to respect valid judgment of the court and stop the systematic defrauding of millions of Nigerians who are bank customers in the name of deduction of stamp duties from their accounts.
Mr. Timothy Olawale, director-general of NECA, stated that the “issue of imposing N50 stamp duty commenced when the CBN directed that banks must deduct N50 stamp duty on all transactions made, with a value of N1,000 and above.

“There is the need to respect valid judgment of the court and stop the systematic deduction from millions of Nigerians who are bank customers in the name of deduction of stamp duties charges,” he said.
Olawale said the issue of stamp duty was tested in courts and a ruling obtained in an appeal against the lower court’s judgment in the case of Standard Chartered Bank Nigeria Ltd vs Kasmal International Services Ltd & 22 Ors in CA/L/437A/2014.
He said Justice Ibrahim Saulawa and four other Justices of the Court of Appeal held that the Stamp Duties Act did not impose a duty on all money deposits in banks.
He said according to the Appeal Court, “electronic transactions” were not covered by the Stamp Duties Act, and to the best of his knowledge, there was no challenge of the ruling by any party at the Supreme Court.”
Olawale said the refusal of the CBN and NIPOST to obey valid judgment of a competent court is worrisome and amount to contempt of court and a sustained daylight robbery of millions of bank customers.
“It is a mark of disrespect to the Constitution of Nigeria, disrespect to the court, and disrespect to due process.
“NECA had written letters in 2015 and 2017 to the CBN governor, calling his attention to the anomaly and judgment of the court, which he neither responded to nor did the needful by halting the fraud and rip off,” he said.
Olawale advised that NIPOST should stick to its roles and responsibilities of producing and selling postage stamps.
He called on the CBN to respect the law and judgment of the Court of Appeal and instruct commercial banks, through a circular, to stop the deduction of N50 stamp duty on customers’ accounts and return several billions of naira illegally deducted from them to date.
News
NITDA Supports CAC AI Driven Transformation

By Oluwole Alao
Kashifu Inuwa CCIE, the Director General of the National Information Technology Development Agency (NITDA), has pledged the Agency’s full support for the Corporate Affairs Commission’s (CAC) artificial intelligence–driven transformation as the Commission marked its 35th anniversary in Abuja.

Delivering a goodwill message at the celebration, which was held at the Ladi Kwali hall of the Abuja Continental Hotel, Inuwa commended CAC for its uncommon consistency and resilience, noting that while many organisations rise and fall after initial success, CAC has continued on a steady growth trajectory.
“We know organisations go up and come down, but some will keep thriving, thriving, and thriving, and today, this is what we are witnessing for CAC,” he said.
Reflecting on his early engagement with the Commission, the NITDA boss recalled that the Registrar General made organisational transformation a priority from the very start of his leadership, particularly in embracing digital innovation.
According to Inuwa, the current era demands more than basic digitisation, stressing that meaningful transformation can only be achieved through the integration of artificial intelligence into core operations.
“We are in the AI era, and the only way to transform today is to embrace and integrate AI into your operations. This is exactly what the Registrar General is doing,” he stated.
He assured CAC of NITDA’s commitment to working closely with the Commission to embed AI across its numerous processes, explaining that the technology would infuse intelligence into workflows, simplify company registration and business management, and strengthen cybersecurity.
“We will make sure you integrate AI into CAC processes. With AI, it will infuse intelligence in everything you do and make things easy for Nigerians to register companies and manage businesses,” Inuwa averred.
The NITDA DG added that deploying advanced AI tools would help CAC staff stay ahead of fraudsters and curb hacking and fraudulent alterations of company records, while also safeguarding the system through responsible deployment.
“At NITDA, we will make sure you deploy ethical and responsible AI in your operations, with the right guardrails in place,” he assured.
He further described CAC’s digital reforms as bold and impactful, noting that the Commission has reduced company registration timelines from several months to as little as 24 hours. He added that further integration of AI would enhance name search and reservation, automate filings, improve corporate governance, and significantly reduce fraud.
He also highlighted NITDA’s ongoing role in reviewing CAC’s digital and AI transformation roadmaps, providing guidelines, standards, training support, and safeguards to ensure sustainable, people-centred, and secure digital services.
The NITDA DG congratulated CAC management, staff, and members of the National Assembly for their support, expressing confidence that the partnership would further strengthen Nigeria’s digital business environment in the years ahead.
News
U.S. Slams Nigerians: Overstays Jeopardize All Visas

The United States has warned Nigerians that overstaying their visas could jeopardise travel opportunities for other citizens seeking to visit the US for education, business, or family purposes.

The warning came amid ongoing immigration crackdowns and tighter travel restrictions under the administration of President Donald Trump.
In a statement posted on X on Monday, Feb. 9, the U.S. Mission in Nigeria stressed that compliance with visa rules is essential to protecting access for Nigerians who travel responsibly.
“Visa overstays by Nigerian travellers can affect opportunities for their fellow citizens,” the Mission said. “Strengthening compliance helps protect access for students, business travellers and families who travel responsibly.”
The Mission also urged Nigerians to report cases of visa fraud to [email protected] or [email protected]
News
CAC Pushes Single National Register to Curb Corruption Loopholes

Nigeria’s Corporate Affairs Commission (CAC) has urged creation of a unified national beneficial ownership register to bolster anti-corruption efforts and corporate transparency.

CAC
CAC Registrar-General highlighted how fragmented sectoral registers breed duplication, inconsistencies, and regulatory gaps during the Commission’s 35th anniversary Anti-Corruption Day in Abuja.
ICPC Chairman Dr. Musa Aliyu, via representative Demola Bakare, praised CAC’s role in fostering accountable business environments that drive sustainable growth.
Global evidence links transparent institutions to stronger economies, with clear rules, accessible data, and open operations as key pillars.
CAC’s oversight on company registration, disclosure, and compliance directly builds investor trust and national integrity, closing avenues for illicit financial flows.
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