Union Bank premises sealed in Kogi over tax liability

The Kogi State Internal Revenue Service (KGIRS) has sealed the premises of Union Bank of Nigeria (UBN) Plc for its refusal to pay a tax liability of over N147.3 million owed the state.

Explaining the reasons for the sealing, the Director of Legal services KGIRS, Barrister Isah Jamil, said that the High Court of Kogi State on August 21, 2020, granted an application by Kogi State Internal Revenue Service to distrain the premises of Union Bank PLC on account of her default in the payment of tax liability owed the Kogi State Government.

Jamil added that the bank was owing the sum of ₦147,343,407.32k noting that the premises of the bank in Kogi State were sealed pursuant to the said Order of the Court.

He disclosed that the Union Bank of Nigeria after the judgement filed a motion before the High Court of the State seeking to set aside the Order of distrain.

He revealed that the court having heard the application on August 26, 2020, dismissed the application of the bank for lack of merit.

According to him “It is important to also add that in 2019, UBN had filed a case before the Tax Appeal Tribunal (TAT) sitting in Jos disputing KGIRS assessment notice of the same liability.

“On 29th of July, 2020, the TAT found at the end of the hearing of the case that UBN is liable to Kogi State Government in One Hundred and Forty-Seven Million, Three Hundred and Forty-Three Thousand, Four Hundred and Seven Naira, Thirty-Two Kobo (₦147,343,407.32) and directed the bank to pay the said amount immediately, but the bank failed to comply with the Judgment of TAT”