Niger govt seals bank over N147m tax

Daily Trust - - NEWS - From Aliyu M. Ha­m­agam, Minna

The Niger State Board of In­ter­nal Rev­enue has sealed the premises of First Bank Plc, Minna branch over tax eva­sion.

Speak­ing to jour­nal­ists yes­ter­day shortly af­ter seal­ing the bank at around 6:30 am, chair­man of the board, Hus­saini Ahmed, said the ex­er­cise fol­lowed a court or­der.

He said the board con­ducted tax au­dit on two branches of the bank in Minna, from 2006 to 2011 and dis­cov­ered that there was “gross un­der dec­la­ra­tion of the in­come of work­ers as well as fail­ure to remit With­hold­ing Tax”.

He added that the bank is ow­ing the state govern­ment N147 mil­lion and that de­spite sev­eral cor­re­spon­dences, it re­mained adamant over mat­ter.

The board’s chair­man, who main­tained that the bank will not re­open un­til it pays up the debt, said the tax law is very clear, “there­fore in a sit­u­a­tion where an in­di­vid­ual or pri­vate or­ga­ni­za­tion fails to pay, the ap­pro­pri­ate laws must be en­forced”.

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