FIRS names top firms owing taxes as Obasanjo, Davido makes list

The Federal Inland Service (FIRS) has suspended the accounts owned by Obasanjo Farms, Iyiola Omisore and Davido Music Worldwide Ltd. Latest Nigeria News understands that the “bond” is a right to maintain possession of a property (accounts) that belongs to another person until a debt of that person is released.

Remember that Babatunde Fowler, executive president of the Federal Internal Revenue Service (FIRS), was consulted by President Muhammadu Buhari regarding alleged discrepancies in tax collection from 2015 to 2018. Latestalert reports that Fowler was consulted in a letter from President Buhari’s Chief of Staff, Abba Kyari, dated 8 August 2019 This online news platform includes that the letter addressed to the FIRS president asked him to explain the reasons for the “significant” changes in budget collections and actual tax collections in 2015, 2016, 2017 and 2018. The Federal Interior Service (FIRS) listed 19,901 accounts that had not yet regularized their tax status. Some of the accounts published include: Citiroof Aluminium Co. Ltd, Coldstone Creamery Limited (Yaba), Davido Music Worldwide Ltd, Grand Square Supermarket and Stores Ltd, Iyiola Omisore & Par, Open Heavens Bliss Enterprises and The Assemblies of God Nigeria. Others are X3M Music Limited, Tiger Foods Limited, Slot Enterprises, Payporte Technology Limited, Visionscape Sanitation Solutions Limited, Erisco Foods Limited Milk Cube account, God is Good Motors (Vehicle sales account), Hubmart Stores Limited, Obasanjo Farms Nig. Ltd (Feedmill) and United Capital Plc. The FIRS, in an advertorial, vowed to enforce the payment of whatever outstanding each company had. “This is to notify all Companies, which had their Bank Accounts placed under Lien by the Federal Inland Revenue Service (FIRS) pursuant to Section 31 of the FIRSE Act, but are yet to regularise their tax status with the FIRS, that if they fail, refuse or neglect to pay the tax due within 30 days of this Notice, the FIRS shall in accordance with Section 49 (2) (a- d) of the FIRSE Act proceed and enforce the payment of the said tax against all the Directors, Managers, Secretaries and every other person concerned in the management of the Companies and recover the said tax from such persons without further notice. “For the avoidance of doubt, the above Section authorizes the FIRS to proceed against and punish every officer, Manager, Director, Secretary or any person concerned with the management of the Company in like manner as if he/she had committed the offence,” it said.


Source: Latest Alert