The Enugu State Board of Internal Revenue (BIR) has given insight into why it carried out a distrainment exercise on four banks and two other private firms, located in Enugu metropolis and Nsukka, on Tuesday, after obtaining Court Orders. 

Speaking to newsmen immediately after the exercise, the board's Director of Back Duty Audit, Mr. Edwin Iyidiobi disclosed that the affected companies were distrained for non-payment of taxes due to the state government, totaling over N200 million.

The business establishments according to him, include Guaranty Trust Bank (GTB) Plc; Sterling Bank Plc; Unity Bank Plc; Heritage Bank Ltd; Robertson Nig. Ltd and Paladium Hotels Ltd.

Mr. Iyidiobi further disclosed that the companies were owing the state the following amounts: GTB (N46m); Sterling Bank (72.2m); Unity Bank (N22m); Heritage Bank (53.8m); Robertson Nig. Ltd (3.1m) and Paladium Hotels Ltd (N3m), totaling over N200 million.

The Director stated that the distrainment exercise became imperative “after several failed appeals to these companies that are indebted to us”, adding that “they did not comply with our request and of course being law abiding citizens we had to ask for court’s assistance”.

He maintained that the exercise followed due process and was successful, saying: “We got Court Orders to seal off the affected companies, and distrain them until they pay what they owe the state government”.

Mr. Iyidiobi further explained that the taxes being owed the state government by the affected companies were in form of “unpaid PAYE; under-remitted PAYE; under-remitted Withholding Tax; under-remitted Development Levy and interests and penalties charged on the under-remitted taxes as provided by the law”.

While emphasizing the board’s need to raise sufficient funds for the execution of state government’s development projects, Mr. Iyidiobi therefore, urged the defaulters to comply with their civic responsibilities by paying the outstanding taxes for the overall benefit of the people of the state.  

http://thepunditng.com/why-we-sealed-off-banks-others-enugu-state-board-of-internal-revenue/

Director of Finance and Account, Enugu State Board of Internal Revenue, Dr. Aloy Agada (left) with other officials of the board, during the distrainment exercise on four banks and two private companies in Enugu for non-payment of over N200 million taxes due to the state government, yesterday.

More for the money. Let them comply.

Z

We don't need to know. Who collects tax from your own organization? Is anyone thinking what I'm thinking?

Banks owing states agency? How about state itself owning banks.

Back duty tax is a witch-hunting tax exercise. Let them negotiate with the tax authorities to reduce the tax liabilities

Interesting

Our Banks with all thes charges una de Charge us?

Pay your own na

Unity bank!
Always in the news for bad reasons.

Upon all the illegal deductions in my account, you can't pay tax?

Heritage is going down. I hate that bank like poo

galantjoe:
Back duty tax is a witch-hunting tax exercise. Let them negotiate with the tax authorities to reduce the tax liabilities

There's nothing to negotiate or reduce, They should pay up their taxes. u can't be posting Billions of naira as quarterly profits n still owe paltry sums on taxes.

We are just starting with all dz Afonja companies

GTB Hmmm..'i comment my reserve'

OneCorner:
We are just starting with all dz Afonja companies

You will soon shout marginalization or Afonjas hate Us when they start with ur ppl in SW.