Access Bank, Stanbic Bank, Skye Bank, Unity Bank, Heritage Bank, Keystone Bank, Sterling Bank shut in Enugu for N1Billion debt

www.odogwublog.com reports that the Enugu State Government, through its Board of Internal Revenue, this afternoon sealed a total of eight commercial  banks operating  in the  state for not remitting over one billion naira, N1,000,000,000.00  they collected on behalf the state, to the coffers of the state government.

The affected banks are Access, Stanbic, Skye, Union, Unity, Heritage(Enterprise), Keystone and Sterling .

The sealing of the banks was necessitated by the  Exparte Order gotten by  the state  board of Internal Revenue  from an Enugu State High Court to restrain the affected banks from operation, for  failing to have remitted the taxes they were   mandated to collect on behalf of the  state.

According to a release issued by the Chairman, Enugu State Board of Internal Revenue, Mr. Emeka Odo, the branches of the banks anywhere in the state would be under lock and key until they pay the taxes they collected on behalf of the state.

Odo said  they had written the banks on several occasions to remit the taxes but to  no avail, hence the drastic measure of sealing them through court order.

“In the past one year, we have written the affected banks severally and held meetings with them on the subject matter but they would rather hold on to government funds illegally,” Odo disclosed.

Odo pointed out that the eight banks had 36 branches in Enugu metropolis and the neighbouring towns and Ituku Ozolla, both in Nkanu West Local Government Area of the State.

He explained that the sealing of the banks was the first phase of the enforcement exercise on major companies and institutions to ensure that “they perform their civic obligation to the state government.”

“We can no longer allow the banks to behave like corporate outlaws.  Moreso, when it is no record that the Withholding Taxes (WHT) which the state government is demanding that banks remit to its coffer, have already been deducted by the banks from the interests that they pay on deposits to their customers.

“The present administration in Enugu State has laid out an ambitious plan to upgrade critical infrastructural facilities in the state.  These people-oriented programmes need to be adequately funded urgently too, because the state government is in a hurry to deliver on all its campaign promises to the people,” the revenue boss.


Access Bank, Stanbic Bank, Skye Bank, Unity Bank, Heritage Bank, Keystone Bank, Sterling Bank shut in Enugu for N1Billion debt Access Bank, Stanbic Bank, Skye Bank, Unity Bank, Heritage Bank, Keystone Bank, Sterling Bank shut in Enugu for N1Billion debt Reviewed by Odogwu Emeka Odogwu on Monday, February 20, 2017 Rating: 5

No comments: