The Post Master-General of the Federation, Dr Ismail Adebayo Adewusi, said Wednesday that the Finance Act 2019 was crippling the Nigeria Postal Service financially.
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He said the non-release of N40bn estimated for digital transformation of NIPOST services had made the agency remain backward in postal services.
Speaking when members of Senate Committee on Communications visited the agency’s headquarters in Abuja, Adewusi said the Act had an injurious provision against NIPOST operations in terms of revenue generation.
He said: “Specifically the Act, in one of its provisions, removed the legal mandate of NIPOST on stamp creation, which further worsened the inter-agency rivalry that had been existing between NIPOST and the Federal Inland Revenue Service on stamp duties collection.
“While billions of naira revenues from Stamp Duties have been lying idle with the Central Bank of Nigeria over the controversy of right of ownership between NIPOST and FIRS, the incapacitation of the Agency from creating Stamps has further worsened its financial status.
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