The School of Banking Honours (SBH) Ltd/Gte has declared that a Federal High Court judgment last Friday, which awarded Kasmal International Services Limited, owned by the late Senator Buruji Kashamu, N579.1 billion as commission on stamp duty revenue collection, violated a 2016 judgment of the Court of Appeal.
It maintained that Kasmal, in total disregard for a 2016 Appeal that dismissed it from Stamp Duty revenue collection, approached a lower court (the Federal High Court) in 2024 to ask for the payment of N579.1 billion, which is 15 per cent of the sum of N3.860 trillion due to be shared by government, lawyers, consultants and SBH (who has Copyright No. LW1023 thereon).
It described as competent its appeal (as the third defendant) before an Appeal Court currently reviewing the judgment, which mandated the Central Bank of Nigeria and the Attorney-General of the Federation (the first and second defendants, respectively) to pay the sum to Kasmal.
SBH insisted that, based on the appeal, a Motion on Notice for permission to file a separate appeal of the Federal High Court’s interlocutory decision was unnecessary.
SBH, a recognised Innovation Enterprise Institution (IEI), is the first banking skills member of the Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI).
The Federal Government, on 12 October 2017, appointed SBH as the sole agent (by copyright) to recover over N20 Trillion Stamp Duty for the government, as invited by the Nigeria Inter-Bank Settlement System (NIBSS).
By appointment, the Federal Government, on 19 October 2017, directed the Central Bank of Nigeria (CBN) to open a Stamp Duty Central Account for SBH recoveries and collections to ensure revenue monitoring by the Presidency.
