The Nigerian Senate has launched an investigation into the collection and use of stamp duty revenue nationwide to improve fiscal accountability and curb revenue leakages.
Chairman of the Senate Committee on Public Accounts, Senator Aliyu Wadada, announced the probe at a media briefing in Abuja, describing it as a crucial step toward ensuring that public funds are properly managed and used for citizens’ welfare.
He explained that the inquiry would examine how stamp duty funds accrued from agreements involving government agencies, private businesses, and individuals have been collected, managed, and disbursed over the years.
“We are determined to ensure that the resources generated through stamp duties are being used transparently and for the benefit of the people. Our goal is to identify areas where revenue may be leaking and ensure these funds are redirected toward public services and infrastructure,” Wadada said.
The committee has written to major stakeholders — including commercial banks, the Federal Inland Revenue Service (FIRS), and the Nigerian Governors’ Forum (NGF) — requesting full details of stamp duty collections. It has also set November 25, 2025, as the deadline for the submission of all required documents and financial records.
According to Wadada, the findings of the investigation will guide future fiscal policies aimed at strengthening Nigeria’s financial management systems.
He emphasized that oversight of stamp duty revenue has been weak in previous years and that the Senate is committed to correcting the lapses through evidence-based scrutiny.
“This investigation will give us a clear picture of how much has been generated and how it has been used,” he added.
