i.The sum of N872,349,943.43 was paid for twenty-five (25) contracts between January and March, 2018
ii.1% Stamp Duties totalling N8,723,499.43 was not deducted from payment made to the contractors.
The Managing Director is requested to:
I.Furnish reasons why statutory 1% stamp duty was not deducted from payment made to contractors.
II.Recover the sum of N8,723,499.43 and remit same to the relevant tax authorities.
III.Forward evidence of remittance to the Public Accounts Committees of the National Assembly.
IV.Otherwise, sanctions relating to failure to collect and account for Government Revenue specified in paragraph 3112 of the Financial Regulation should apply.
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