Stanbic IBTC, Polaris Bank others sealed over tax liability in Niger

The Niger State Board of Internal Revenue has closed the Abuja Electricity Distribution Company (AEDC) as well as commercial banks over tax liability to the tune of N456m.

The Executive Chairman of the board, Mohammed Madami Etsu in a statement made available to newsmen in Minna, stated the exercise was conducted in line with the provisions of the relevant Tax laws.

The affected banks include; Stanbic IBTC (N113.2m) Polaris Bank(N74.8m), Union Bank (N47.1m), First Bank (N45.7m), Heritage Bank (N31.5m) and Unity Bank (N14m).

Other defaulting organisations Etsu revealed are AEDC Plc with the debt of N45.8m, Aloe Vera International Hotel (N3.9m) and Rashida Restaurant (N3.2m) respectively.