Akwa Ibom State Government Seals Up Two Nigerian Banks Over Tax Liabilities

<h4>Akwa Ibom State Government seals Up Two Nigerian Banks<&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> has reliably gathered that the Akwa Ibom State Internal Revenue Service &lpar;AKIRS&rpar; on Thursday sealed Keystone Bank at Abak Road and Heritage Bank along Ikot Ekpene Road over their inability to pay their arrears of tax liabilities&comma; which amounted to over N228 million&period;<&sol;p>&NewLine;<p>Speaking shortly after the exercise&comma; the Executive Director in charge of enforcement and debt recovery activities of the revenue board&comma; Mr Leo Umana&comma; said the banks were sealed after AKIRS obtained an ex parte order of notice to distrain from the Uyo Division of the Akwa Ibom State High Court&period;<&sol;p>&NewLine;<p>He said Heritage Bank failed to pay N100&comma;270&comma;910 while Keystone Bank refused to pay N128&comma;413&comma;882 owed to the state government as tax liabilities&period;<&sol;p>&NewLine;<p>&&num;8220&semi;The court order was signed by Justice Effiong Effiong&comma; who ordered that access to the bank premises and its facilities be restricted&period; The two banks have not been remitting actual tax from employee salaries as well as other taxes meant for the state&comma;&&num;8221&semi; he said&period;<&sol;p>&NewLine;<p><a href&equals;"https&colon;&sol;&sol;www&period;vanguardngr&period;com&sol;">Umana said the banks were given warning notices but failed to comply after several months&period;<&sol;a><br &sol;>&NewLine;He explained that AKIRS had exhausted reconciliation and negotiation opportunities with the financial organisations before resorting to court action&period;<&sol;p>&NewLine;<p>According to him&comma; under the law&comma; the banks that are served the notice to distrain have 14 days to negotiate with AKIRS and vacate the order&period;<&sol;p>&NewLine;<p>&&num;8220&semi;If&comma; after 14 days&comma; they do not comply&comma; we have the mandate of the court to sell the property and recover the tax owed the state&comma;&&num;8221&semi; he said&period;<&sol;p>&NewLine;