CROSS RIVER IRS, SEALS FIRST BANK OF NIGERIA PLC IN CALABAR METROPOLIS
The Cross River Internal Revenue Service (CRIRS) has carried out a distrain order on all the First Bank branches in Calabar Metropolis including the Regional Head Office
The distrain order which took place on Wednesday, the 16th of October, 2019 was issued by the Cross River State High Court, Calabar as a last ditch effort by the Cross River Internal Revenue Service to recover an outstanding tax liability of the sum of Two Hundred and Eleven Million, Ninety-Four Thousand, Four Hundred and Fifty Naira (N211, 094, 450. 00) only, being deductions from Pay As You Earn, (PAYE), Withholding Taxes, Business Premises and Development Levy, for the period 2005 – 2010.
The Enforcement team was led by Barr. S. A. Abi, Director of legal/Enforcement services in company of staff, security personnel and members of the press.
Members of the public who expressed divergent views on the development, wondered why First Bank with all its assets and customers’ base should deduct money statutorily from taxpayers and customers, yet fail to remit same to Government account. Some staff of the Bank, while craving anonymity, shared the same sentiments.
As at press time no official correspondence has been received from The Bank’s Head Office in Lagos. However, the Director Legal Services, Barr. Simeon Abi maintained that First Bank would remain under seal until the liability is cleared.