Connect with us

Economy

KDSG seals Keystone Bank, FCMB premises over N295m unpaid taxes

Published

on

KDSG seals Keystone Bank, FCMB premises over N295m unpaid taxes

The Kaduna State Internal Revenue Service (KDIRS), on Tuesday sealed the premises of Keystone Bank and First City Monument Bank (FCMB) in Kaduna over alleged unpaid taxes.


The Executive Chairman of the Service, Dr Zaid Abubakar told newsmen in Kaduna that the banks allegedly owed the state government to the tune of N294.85 million.

Abubakar said that the amount accumulated from unpaid Pay-As-You-Earn (PAYE) and withholding tax since 2007.

According to him, Keystone Bank owed unpaid taxes amounting to N222.8 million between 2007 and 2018, while FCMB owed more than N72 million from 2007 to 2016.

“When you put these together, the total liabilities amounted to N294.85 million, which we want them to pay.

“We carried out the tax audit along with the banks officials, sent them our report, assessment and demand notices.

“KDIRS also wrote to the management of the banks several times, but they refused to come for reconciliation and failed to respond to our demand notices.

“Therefore, we had no option but to seal off the branches according to relevant tax laws,’’ he said.

Also speaking, KDIRS’ Head of Enforcement Unit, Mr Ado Garba, said that sealing the banks’ premises was to ensure compliance to relevant tax laws.

Ado said that the branches would be reopened as soon as they pay the taxes.

According to him, the affected backs are equally expected to pay N250, 000 each, being the cost incurred to enforce the law.

The KDIRS Secretary and Legal Adviser, Mr Frances Kozah, said that the banks had 14-day window to remit all the tax liabilities, adding that if the failed to comply, the agency would take the next step to ensure compliance.

He said that part of the resolution of KDIRS in 2020 was to ensure full implementation of tax laws in the state.

Edited by: Joe Idika/Ese E. Ekama

 

 

 

Philip Daniel Yatai: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Insecurity: CSOs call FG to intensify effort to allow farmers access farmlands COVID 19: Foundation begins online medical intervention COVID-19: PTF reverts govt working hours to 8a.m. to 4p.m. for GL 12 upward NIPC boss considers Shoprite strategic investment in Nigeria  UNDP, EU want strong legislation to end rape, violence against women Buhari sympathises with Lebanon over massive explosions Post-COVID-19: Feed miller urges youths to embrace agribusiness for sustainability to embrace agribusiness for sustainability COVID-19: United States lifts global travel advisory Prof. Sule, Plateau SUBEB boss, gets fresh tenure SSANU, NASU threaten strike over unresolved issues with FG Controller assures of professionalism in drug-related issues in custodian centres Insecurity: Peace corps cautions egocentric politicians, ethnic warlords We will harmonise all interests in Anambra FA, Caretaker Committee chairman assures Sevilla, Leverkusen cruise into Europa League quarter-finals Makinde names ex-legislator, commissioner as Board chairmen Amb. Dada calls for investigation into ECOWAS headquarters fire incident COVID-19: Buhari orders compulsory use of face masks nationwide NIPC partners with NBS on sectors’ assessment to boost investment Kano Emir Bayero says EPZ will spur national industrial dev’t Happening in Edo threat to constitutional order – Atiku FG not frustrating evacuation of Nigerian students in Saudi Arabia – official Defence College graduates 107 foreign, local participants of Course 28 Army, DICON, security firm sign MoU on military equipment production FirstBank has processed N6trn transactions through FirstMonie network — Adeduntan INEC introduces election result viewing portal PenCom to initiate pension reform act 2014 review Religious, traditional leaders pledge support to fight rape, violence against women NIPC urges deep economic reforms to reverse 2020-2021 investment decline US agency warns hurricane season this year could be one of the worst INEC threatens to halt Edo, Ondo polls if there is violence Credible election in Edo will rekindle Nigerians’ hope- Secondus Around 40 migrants drown in shipwreck off Mauritanian coast COVID-19: Again FG extends second phase of eased restrictions by 4 week Gold price continues to fly high, rises to yet another record Female senator donates 21 trailer-load of fertilisers to Adamawa farmers Military allays fear over alleged Al-Qaeda, ISIS inroad to Nigeria NCPC partners CAN, JNI to end Southern Kaduna killings COVID-19: PTF approves gradual reopening of international flights LASG calls for synergy among security agencies COVID-19: Kogi Govt fumigates schools ahead of resumption on Aug. 10 Gov Ikpeazu calls for Federal Secretariat in Abia Asaba Airport to resume operation soon – Delta SSG APC appoints acting state chairman in Akwa Ibom NCC tasks ICT reporters to work in synergy with Commission COVID-19: Coy launches `BackToWork’ safety module for businesses, organisations Boat mishap claims 9 lives in Sokoto   Bayelsa host communities urge FG, Shell to ignore alleged 21 days ultimatum Nasarawa Govt. vows to fish out killers of veteran journalist COVID-19: BEDC donates 100 motoriised hand washing machines to states, others Potato prices crash in Kano