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Heritage Bank, Access Bank, Others Seals Off Over Unpaid Taxes Worth N1BN

Enugu State Board of Internal Revenue, after obtaining Exparte Orders from the Enugu State High Court, sealed eight banks in the state for refusal to remit Withholding Taxes worth about N1billion into the coffer of the State Government.

Mr. Emeka Odo Chairman(on behalf of Esir), Enugu State Board of Internal Revenue gave reasons why the 8 banks were sealed off..... Eight banks were this morning sealed by the Enugu State Government for failure to remit about ₦1,000,000,000.00 (One Billion naira) in taxes to the coffer official the state government.

The state government, through the Enugu State Board of Internal Revenue (ESBIR) on Feburary 6 and 16, 2017, obtained Exparte Orders from the Enugu State High Court to distrain the affected banks. The Board began the enforcement exercise this morning, and I wish to state that it was very successful.

The eight banks are Access Bank PLC, Heritage Bank,  Keystone Bank, Sterling Bank Stanbic IBTC Bank, Skye Bank, Union Bank, Unity Bank.

The branches of the affected banks in the State, which are now under lock and key will remain locked until they pay to the state government the taxes they have collected on its behalf.

The government has been encouraging individual tax payers and tax agents to comply voluntarily by paying their taxes promptly. We have reformed the process of remittances of government revenues to make it easy for banks to pay their taxes like other corporate citizens.

In the past one year we have written the affected banks severally and held meetings with them on the subject matter but they would rather hold onto government funds illegally.

The action of the affected banks has been denying the State government of the funds it needs to execute its developmental programmes that would impact positively on the lives of the people.

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