Kogi govt seals off bank over N1bn debt

KOGI State Internal Revenue Service (KGIRS) on Friday seal of premises of a first-generation bank over debt to the tune of over 1 billion naira for the period of five years.

The staff of the revenue visited the office of the bank situated along Adanko and Logos road and seal off the premises as workers have no choice but to vacate their various office to avoid been locked inside the office.

Addressing newsmen on Friday, Isah Jamil Head of Legal and Enforcement Department said the bank. is indebted to Kogi State in the sum of N1, 664,417,350.03.

“The debt arose from tax investigation conducted on the bank for the tax period 2000 – 2005. On PAYE, WHT.

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“Several demand letters were served, on the bank which it refused to pay or honour. It is the failure of the bank to pay the established liability that prompted the Service to proceed to the Kogi State High Court of Justice, for leave to enforce the payment of the liability by way of distrain.

He stated further that the order was granted on the 3rd October, 2019 by a court in Lokoja adding that the bank is also to bear the cost of distraining per the order of the court.

“The service shall maintain the distrain on the bank premises in Lokoja until the liability is completely liquidated,” he said.

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