Audit observed from the examination of the Centre’s Payment Vouchers, TSA outflows and CBN Bank Statement that:
There was no deduction of 1% stamp duty amounting to N56,327,692.49 (Fifty-six million, three hundred and twenty-seven thousand, six hundred- and ninety-two-naira forty-nine kobo) which represents N6,615,873.09, N14,793,637.36, N15,088,531.35 and N19,829,650.19 for contracts awarded in 2016, 2017, 2018 and 2019 respectively.
1. Explain the reason for the disregard to this extant circular.
2. Recover the sum of N56,327,992.49 from the contractors and remit same to the appropriate government account and forward evidence of remittance to the Public Accounts Committees of the National Assembly, and
3.Otherwise, apply sanctions relating to failure to collect and account for Government Revenue in paragraph 3112 of the Financial Regulations
N/A
N/A
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