The Kaduna State Internal Revenue Service has sealed four branches of Fidelity Bank in the state for tax Liabilities amounting to N43.3 million.
The branches are located at Ali Akilu Road, Ahmadu Bello Way, Polytechnic Road by Maimuna Gwarzo Junction, and Kachia Road, all in Kaduna metropolis.
The Executive Chairman of the Revenue service, Zaid Abubakar, said the bank’s branches were closed based on a court order after the bank refused to settle outstanding tax returns of N43.3 million owed the state government from 2011 to 2020.
According to her, the action taken against the bank is in line with Section (3) and (4) of the personal income tax Amendment Act 2011 and Section 37 (3l and (4) of Kaduna state Tax Codification And Consolidation Law, 2020 as amended.
She said the management of the bank was served with notices of the tax assessment five times, but the notices were ignored.
The move is part of efforts by the state government to encourage voluntary settlement of all tax liabilities by taxpayers.
Fidelity Bank and the bank’s regulatory body, the Central Bank of Nigeria (CBN) have not reacted to the incident as of the time of this report.