Ground Rent (GR) & Tenement Rates arising from Power Installations, Equipment and Assets previously owned by the defunct Federal Agencies that existed across the States of the Federation, thus, earning the States Back Duty Tax Liabilities of defunct NEPA/ PHCN.

Accessing of Development of Natural Resources Fund (DNRF) as grant for States of the Federation as duly captured in the Statutory Revenue Allocation of the Federation Account in accordance with the Allocation of Revenue Act, CAP A 15 LFN, 2004; which establishes the Natural Resources Development Fund for 63% of the distributable pool of funds from the monthly Federation Account. The Fund is specifically created to finance the development of non–oil mineral resources in the States of the Federation and it’s meant to grow the economy of States’ and by extension, the national economy.

This is based on empirical analysis and submission of acceptable Feasibility Report and other submissions in the form of presentation, for ease of perusal.

Review, reconciliation and recovery of excess, arbitrary bank charges, deductions and unremitted income Pre-TSA from both Public and Private Sector organizations particularly blue-chip, income-generating Federal Government Agencies; Private Sector Companies and High Net-worth Individuals (HNIs).

We are desirous to providing an enduring framework for review, reconciliation, recovery and collection of the excess, arbitrary bank charges and deductions in addition to the unremitted income; in an efficient and innovative manner for the Organizations.

Based on NAPIMS investment role in the nation’s Oil & Gas Industry and especially being the investment arm of the NNPC for Federal Government; the following strategic areas of audit are outlined for the Agency;

1. Oil & Gas Infrastructure Audit
2. Gas Revenue Audit
3. Audit of Unitized Asset Development Programs

“Back Years” Stamp Duties recovery targeted mostly at financial institutions, e.g. Deposit Money Banks, Insurance Companies, Nigeria Inter-Bank Settlement System (NIBSS), Central Securities Clearing System (CSCS), Corporate Affairs Commission (CAC), Magistrate, High (both State and Federal), Appeal and Supreme Courts, etc.

Chargeable transactions in the Fixed Duty Instruments category which are Power of Attorney (PoA), Certificate of Occupancy (C of O), Proxy Form; Appointment of Receiver, Memorandum of Understanding (MoU), Joint Venture Agreements (JVA), Guarantor’s Form, and Ordinary Agreements Receipts; to be pursued from both Public and Private Institutions/ Offices.

Ad-Valorem Instruments chargeable under the Stamp Duties Act are Deed of Assignment, Sales Agreement, Legal Mortgage or Debentures, Tenancy or Lease Agreement, Insurance Policies, Contract Agreements, Vending Agreement, Promissory Notes, Charter-Party and Contract Notes.