Govt Seals Heritage, Keystone Banks Over Alleged Tax Evasion

The Akwa Ibom State Internal Revenue Service, AKIRS, on Thursday, sealed three bank branches belonging to Keystone and Heritage banks in Uyo over alleged tax default amounting to over N228m.

Executive Director, Enforcement and Debt Recovery of the Service, Leo Umana led the enforcement team of the AKIRS to seal the bank branches located along Abak Road and Ikot Road within Uyo.

Umana disclosed that Heritage Bank has failed to pay N100,270,910 while Keystone Bank was in default to the tone of N128,413,882 owed the state in tax liabilities.

Both banks, he explained, were sealed after an exparte order of Notice of Distrain was obtained by the AKIRS from an Akwa Ibom state High Court, Uyo Division after failing to heed to warning notices to comply for several months.

Umana said, “The Court Order was signed by Hon Justice Effiong Effiong who ordered that access to the bank premises and its facilities be restricted.”

The order noted that, “The banks have not been remitting actual tax deductible from its employees’ salaries and other relevant taxes due to the State; hence failed to comply with provisions of relevant tax laws.”

Umana noted that for both defaulting banks served the Notice of Distrain, under the law, they 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”, he stressed.

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