Ecobank Denounces Closure of Branches by Anambra State Board of Internal Revenue

Branches of Ecobank Nigeria Limited in Anambra State were on Thursday June 1st sealed on the authority of the Anambra State Board of Internal Revenue based on a purported Exparte Court Order  on account of Legacy Oceanic Bank alleged PAYE back tax of N2.5 billion for the period between 2006 and 2011.

According to a statement from the bank, it said “Ecobank is a law abiding citizen and has paid all taxes assessed due and payable to the Anambra State Government. The bank’s tax consultants had been and are still engaging the State Internal Revenue Service in respect of the purported tax claims.  We have since provided evidence of payment made in respect of the tax assessment based on the provisions of the law.

It explained that officials of the court, based on a writ of attachment served on the bank reflected an unjustifiable tax claim of N5.8 billion on which basis they closed down branches of the bank in Anambra State, noting that the bank will continue to engage the Internal Revenue Service for an amicable resolution.

“We sincerely apologise to our customers for the inconvenience of this closure and wish to assure all stakeholders that Ecobank continues to operate its banking business across the country in a transparent and ethical manner. We have not contravened any law in Anambra State, known to us, for which our branches should be stopped from operations and we remain amenable to working with the State Government within the ambit of the law”, it added

Post Author: Dayo Emmanuel