STAMP DUTY : COURT OF APPEAL FIXES MARCH 27TH FOR HEARING ON N579BN CLAIM BY BURUJI COMPANY [ KASMAL]
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GREATRIBUNETVNEWS–THE Appeal Court of Appeal in Abuja has scheduled a hearing for March 27, 2025, to address the appeals filed by the Central Bank of Nigeria (CBN), the Attorney-General of the Federation (AGF), and the School of Banking Honours (SBH) regarding the ₦579 billion claim by Kasmal International Services Ltd, owned by the late Buruji Kashamu.
Background of the Case
Kasmal International Services Ltd was awarded ₦579 billion as 15% commission on the Stamp Duties of ₦3.860 trillion declared by the Supreme Court for sharing by the 36 states of the Nigeria Governors’ Forum (NGF) and the Federal Government (FGN). However, the CBN, AGF, and SBH are challenging this judgment, citing errors and inconsistencies.
Key Issues to be Addressed
The appeals will focus on several key issues, including:
– Kasmal Financial Service Ltd (fake company) was Plaintiff*: The authenticity of Kasmal Financial Service Ltd, which initiated actions against banks and others, has been questioned.
– Commission on Stamp Duty revenue collection targeted by Kasmal was SBH work: SBH claims that the Stamp Duty revenue collection targeted by Kasmal was actually their own work, and that Kasmal has not presented any evidence to justify their claims.
– Conflicting dates on a purported NIPOST-Kasmal contract: There are discrepancies in the dates provided by Kasmal regarding their contract with NIPOST.
– Conflicting percentages on Kasmal commission in Court: The commission percentage awarded to Kasmal has varied across different judgments.
– Kasmal obtained the settlement money by false pretenses: It is alleged that Kasmal obtained ₦10.367 billion from the Accountant-General of the Federation (AGF) under false pretenses
“Finally, the ₦10.367 Billion collected by Kasmal from the Accountant-General of the Federation (AGF) as “full and final” on its Appeal loss was backed with a “written undertaking” to the AGF as to its commitment to SBH (by Copyright).
“This is a proofing that the money was obtained under “false pretenses” and should now attract the attention of the EFCC for recovery and litigation, especially as SBH was unaware of such arrangement.
“However, Dr. Alex Izinyon SAN leading the Kasmal team has evaded answers to these exhibits, and hopes to bury all the crimes under some court technicalities,” the source disclosed.
