Fidelity Bank branches sealed in Kaduna over N43.3 million tax liabilities

  Fidelity Bank branches sealed in Kaduna over N43.3 million tax liabilities

The Kaduna State Internal Revenue Service (KADIRS) has sealed four branches of Fidelity Bank Plc. over N43.3 million tax liabilities.

This was disclosed by Ms Aisha Mohammed, KADIRS Legal Adviser and Board Secretary, in a press briefing with Journalists, citing that the branches were closed for allegedly refusing to settle outstanding tax returns of N43.3 million owed for the period 2011 to 2020.

The branches are located at Ali Akilu Road, Ahmadu Bello Way, Polytechnic Road by Maimuna Gwarzo Junction, and Kachia Road, all in Kaduna metropolis.

Mohammed said, “Therefore, to claim all tax due to the state, we approached the court and obtained a court order to seal the branches.

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“This is provided for in Section 104 (3) and (4) of the Personal Income Tax (Amendment) Act. 2011 and Section 37 (3) and (4) of Kaduna State Tax Codification and Consolidation Law, 2020 as amended.”

She added that management of the bank was served with notices of the tax assessment five times, but the state was yet to get a response.

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The details news also reported this week that Fidelity Bank refuted the alleged probe of its former Managing Director/Chief Executive Officer, Nnamdi Okonkwo, by his successor, Nneka Onyeali-Ikpe.

The financial institution described the report, which was circulated across some online platforms, as false information and malicious.