Kaduna govt seals-off Access Bank over N175m tax

PIC MIX: Access Bank - Diamond Bank
Access Bank - Diamond Bank

The Kaduna State Internal Revenue Service (KDIRS) has sealed off three branches of Access Bank in Kaduna metropolis over non-remittance of over N175 million Pay-As-You-Earn (PAYE).

The News Agency of Nigeria (NAN) reports that the bank branches, located along Bida Road, Ahmadu Bello Way, and Isa Kaita Road were sealed-off in the early hours of Wednesday.

Francis Kozah, KDIRS Secretary and Legal Adviser, told journalists shortly after the exercise that the branches would remain closed till the bank pays all tax liabilities to Kaduna State Government.

“We conducted a tax audit from 2011 to 2016 which revealed that Access Bank has not been remitting PAYE and withholding taxes.

“We are able to establish an unremitting liability of PAYE and withholding taxes of over N175 million within the period.

“KDIRS communicated to Access Bank the findings, made demand for payment and held several meetings with the management of the bank, but the bank refused to pay.

“We are left with no other option but to approach the court for a warrant to restrain the bank, and the court granted the order to seal off all the branches in the state.’’

Mr Kozah said that KDIRS decided to restrain only three branches, adding that they would not be opened until the bank management does the needful.

He advised all corporate entities, including professional bodies operating in the state to come forward and settle all tax-related issues with government or risk being sealed off.

“We are going to be fair to all taxpayers, but we will remain firm and decisive in ensuring that all taxpayers pay what is due to the state government,” he said.

Advertisement

nlng Campaign AD

READ ALSO: Police confirm Redeemed pastor’s abduction in Lafia

KDIRS Head of Enforcement, Ado Garba, also said that the revenue agency was currently finalising tax audit of some corporate entities, including individuals.

According to him, the agency will go after anyone, banks, companies, professional bodies and other businesses found withholding tax.

“We are open to negotiation with Access Bank, but I assure you that we will only open the branches if the management settle the tax liabilities, including N250,000 cost incurred in sealing the branches.”

On his part, the Executive Chairman, KDRIS, Zaid Abubakar, warned that the agency would seal off any business establishment and corporate organisation that were not willing to pay taxes to the state.

“We will not continue to watch while businesses operating in the state sit on government money by refusing to pay their taxes,” he said.

(NAN)

Advertisement

PT Mag Campaign AD

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required

DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: This space is available for a Text_Ad.. Call Willie on +2347088095401 for more information


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.