NIPOST Launches N50 Revenue Stamp

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The Minister of Communications and Digital Economy, Dr. Isa Pantami (middle), flanked by top ministry officials, displaying the N50 revenue stamp during its launch yesterday in Abuja.

 The Nigerian Postal Services (NIPOST) has launched N50 revenue stamp for use in denoting documents and authenticating business transactions and agreements in the country.

The Minister of Communications and Digital Economy, Dr. Isa Pantami, unveiled the revenue stamp in Abuja, saying henceforth the stamp would be used to authenticate all financial transactions in the country.

“From now henceforth all these transactions based on the provision of Finance Act of 2020, we must ensure as good citizens that we comply with this in all our activities.

“By complying with Nigerian laws, we are reducing the challenges being confronted by Nigeria. If we comply with any law then for sure our country has one problem less, if we fail to comply to a single law, our country has additional problem added to it,” Pantami said.

He assured that “whatever is generated from the revenue stamp is not the money that NIPOST is going to spend, that money is for Nigeria and for Nigerians. The money will go into agriculture, health, education, social development and security. This money will contribute in making Nigeria a better place for all of us.”

He emphasized the need for all Nigerians to join hands to reposition NIPOST and make it more relevant, adding efforts were on to amend the NIPOST Act and make the agency more visible through the establishment of a NIPOST transport and logistics company as well as NIPOST micro finance bank. 

The postmaster-general of NIPOST, Dr. Ismail Adewusi said the revenue stamp which comes in a single denomination of N50 would be made available in post offices nationwide. 

“The general public is hereby invited to avail themselves with this new revenue stamp for the authentication and validation of document and denotation of duties. The new revenue stamp will further boost the revenue profile of the Federal Government and support its transformation of the digital economy space. 

“The postal socio- economic sector is undergoing rapid changes and development in its operation. The use of stamps is not limited to payment in postal service alone. Stamps also serve as objects of visual communication and as dependable recorders of event for posterity. Through stamps, NIPOST has documented Nigerian history, educating and preserving our national heritage among others. NIPOST over the years has played a strategic role in the socio-economic and political spectrum of the economy,” he pointed out.

The chairman, NIPOST governing board, Barr. Maimuna Yaya Abubakar said NIPOST was back to its legal position of administration of stamps as the exclusive producers and custodian of stamps in the country, assuring Nigerians “we won’t allow NIPOST to be exploited.”

She explained that the official unveiling of NIPOST revenue stamp represented a quantum leap in the re-engineering efforts of the NIPOST aimed not only at repositioning the agency for optimal performance and customer satisfaction but stimulating it “to strategically punch above its weight category” in effectively contributing to the socio-economic development of the country.

“Let me assure the management that it has the back of the governing board, and together we will continue to work assiduously in developing and deploying innovative tools in order to stay ahead of the curve and keep on pushing boundaries and breaking new ground until NIPOST becomes a word class organisation. With sustainable support by the government and by dint of hard work and perseverance on our part, I believe it is just a matter of time before we make NIPOST deliver on its full potential,” she added.

Oluchi Okorafor
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