Niger Agency Seals 8 Banks, Others Over Tax Debt

Niger Agency Seals 8 Banks, Others Over Tax Debt

The Niger State Internal Revenue Service (NIRS) on Monday shut down the branches of eight banks and three other organisations over unpaid tax liability.

The Executive Chairman of the service, Mohammed Etsu, said in Minna on Monday that the exercise was carried out in line with the provisions of the relevant tax laws.

He added that the indebted banks owed the state government about N456 million.

“They have been dragging the issues for some months now. It is time to act; other banks and businesses with liabilities are also in line for the same enforcement action,” he said.

Etsu said all efforts by the service to enable the defaulting organisations to pay their respective tax liabilities yielded no positive result.

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He called on other debtors to pay their outstanding tax liabilities to avoid the sealing of their offices by the service.

The affected banks include Stanbic IBTC (N113.2million) Polaris Bank (N74.8million), UBA (N68.9million), Union Bank (N47.1million), First Bank (N45.7million), Heritage Bank (N31.5million) Unity Bank (N14million) and GTCO (N8.2million).

Others include AEDC Plc (N45.8million), Aloe Vera International Hotel (N3.9million) and Rashida Restaurant (N3.2million).