Oyo Assembly gives Makinde nod to deduct 5% for stamp duties recovery

By Moyosore Salami

The Oyo State House of Assembly, on Wednesday, gave the State Government the nod to deduct five per cent at source as consultancy fee for the recovery of the backlog of stamp duties owed the State Government.

The State Government had, in the letter, added that the request was also targeted at the Governor Seyi Makinde administration reconciling its various accounts.

Though details of the executive resolution were not made known, the Deputy speaker, Honourable Abiodun Fadeyi, who presided over the plenary, slammed the gavel in favour of the request from the executive arm.

The request may not be unconnected with a request by states wanting the Supreme Court to restrain the Federal Government or its agents from appointing anyone to collect stamp duties on individual persons’ transactions within the respective states.