Introduction:

Stamp duty is a tax levied on physical and electronic instruments listed in the Schedule to the Stamp Duties Act (as amended). Some of such instruments include Receipts, Agreements, Contracts, etc. Instruments executed in Nigeria are required to be stamped on or before execution, however, a grace of 40 days from the first execution is provided; while unstamped or in- sufficiently stamped instruments first executed outside Nigeria should be stamped within thirty days after it is first received in Nigeria.