First Bank Branches Shut Down In Kogi State Over Alleged Tax Evasion

Kogi State residents who’ve accounts with First Financial institution Nigeria PLC expressed worries over the shutting down of the financial institution’s branches working within the state.

Studies obtained by Naija Information on Tuesday, September 13, 2022, revealed that the State Authorities has sealed off the apex financial institution branches within the state over alleged tax evasion.

The federal government’s motion based on the report was carried out following an order by a Kogi Excessive Court docket sitting in Lokoja, the state capital.

The financial institution was mentioned to have did not liquidate its excellent tax liabilities to the tune of N411.12 million to the Kogi State Authorities.

After a number of follow-ups, the Kogi State Inside Income Service (KGIRS) determined to close down the financial institution branches on Monday after acquiring the courtroom order, Naija Information understands.

Explaining the state of affairs in a quick interplay with newsmen, Director, Authorized Companies of the KGIRS, Bar. Saidu Okino who spoke from his workplace mentioned the quantity represents excellent withholding tax from the financial institution’s cell banking brokers from 2015 to 2022.

He mentioned that the motion of the board was on account of the refusal of the financial institution to liquidate the legal responsibility regardless of a number of demand notices to that impact.

In keeping with him, approaching the courtroom was its final resort in any case different measures to make the financial institution pay up proved abortive.

He mentioned: ”Earlier than we went to courtroom, there was a Demand Discover to that impact dated twelfth day of October 2021, and signed by the then appearing chairman, Abubakar Yusuf.

“We made a number of makes an attempt. We despatched them a discover of the intention of the service to take a warrant of distraining in order that we will do no matter is needful, on the twenty fifth February 2022, however we had been ignored.

“On the twenty fifth of August, 2022, Discover of Refusal to amend their legal responsibility was served on them. We didn’t on our personal roll out our machineries to go and seal,” Each day Submit quoted the official as saying.

As of the reporting time, no official of the financial institution has but issued a press release on the event, Naija Information studies.

A number of the financial institution’s clients who interacted with newsmen at a department round Ganaja junction, Lokoja, expressed concern that they might not transact enterprise with the financial institution past withdrawing cash by way of ATM.

They careworn the necessity for the 2 events to achieve amicable decision for the financial institution to renew enterprise.