Akwa Ibom govt seals three banks over alleged ₦228m tax debt

The Akwa Ibom State Government Internal Revenue Service (AKIRS) has sealed three banks for their alleged failure to remit outstanding tax liabilities of ₦228 million to the state government.

The affected banks are two branches of Keystone Bank, located at Abak Road and Ikot Ekpene Road, Uyo, and Heritage Bank, located at Aka Road, Uyo.

The AKIRS Enforcement and Recovery Department sealed the banks on Thursday, following an order of Notice of Distrain from the Akwa Ibom State High Court, Eket Judicial Division.

The Executive Director of Enforcement and Recovery at AKIRS, Leo Umana, told journalists in Uyo that Heritage Bank failed to remit its ₦100,270,910 tax liabilities to the state while Keystone Bank refused to pay ₦128,413,882 owed to the state government as tax liabilities.

Umana noted that the banks were given warning notices but failed to comply after several months, adding that the AKIRS had exhausted reconciliation and negotiation opportunities with the financial organisations before resorting to court action.

According to him, under the law, the banks that are served the notice to distrain have 14 days to negotiate with AKIRS and vacate the order.

“If, after 14 days, they do not comply, we have the mandate of the court to sell the property and recover the tax owed the state,” Umana said.

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