Nigeria: Tax Defaulting - Globacom, Sterling Bank Offices Sealed in Kano

28 October 2011

Lagos/Kano/Abuja — Kano State Board of Internal Revenue (KSIBR) yesterday sealed offices of Sterling Bank Plc and Globacom for tax defaulting. Globacom office was closed for its failure to pay N68, 652, 000 tax liability due to Kano State government for the year 2004-2006.

Sterling Bank Plc was also closed for N29, 210,308. 26 tax liability due to Kano State government for the year 2006-2009. The Executive Chairman of the board, Malam Habu Muhammad Fagge said the board had issued the affected companies copies of reminders and invitations letters for the management of the organizations to reconcile their accounts with the board, a request the managements failed to comply with.

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