The Court of Appeal in Abuja has scheduled a hearing for March 27, 2025, to address the N579 billion claim by Kasmal International Services Ltd, a company owned by the late Buruji Kashamu.
The claim is for a 15 per cent commission on the Stamp Duties of N3.860 trillion declared by the Supreme Court for sharing by the 36 states of the Nigeria Governors’ Forum (NGF) and the Federal Government (FGN).
The appeal was filed by the Central Bank of Nigeria (CBN), the Attorney-General of the Federation (AGF), and the School of Banking Honours (SBH) against the judgment delivered by Justice Inyang Ekwo of an Abuja Federal High Court on October 11, 2024.
SBH stated in its appeal against the Federal High Court judgment that it holds Copyright Certificate No. LW1023 on 50-Naira Stamp Duty revenue collections which its research brought to government in 2012.
SBH, a government-recognised Innovation Enterprise Institution (IEI), contended in the appeal against the Federal High Court ruling that Stamp Duty in banking is its protected research work.
SBH was appointed by the Federal Government on 12 October, 2017 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).
Meanwhile, the Federal Government, on 19 October, 2017, directed CBN to open a Stamp Duty Central Account for SBH recoveries and collections to ensure the monitoring of the revenue by the Presidency.
