First Bank Branch Sealed Over N132.6 million Tax Defaults!

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Photo by: Kelechi Amadi-Obi (www.kelechiamadiobi.com)
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A branch of one of Nigeria financial institutions, First Bank has been sealed over N132.6million Tax Default.

Kaduna State Internal Revenue Service, KADIRS under its Executive Chairman, Zaid Abubakar, identified the affected banks to include First Bank and 3 other banks.

Abubakar told journalists after the exercise in Kaduna that the money was arrears of taxes payable on masts, towers, and Very Small Aperture Terminals from 1999 to 2020.

According to him, the exercise was based on the power vested on KADIRS by Section 104 of the Personal Income Tax Act.

The executive chairman appealed to all business owners in the state to comply with relevant tax laws and pay all taxes due to the state to avoid being shut.

it will be recalled that in recent times, the Adesola Kazeem Adeduntan- led bank has been greeted with many controversies including financial misappropriation.

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