Sealed CBN Branch Reopened - P.M. News

Sealed CBN Branch Reopened

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The Calabar office of the CBN sealed by officials of the Cross River State Board of Internal Revenue Service (CRBIRS) over alleged tax default was reopened on Thursday.

The apex bank office in Calabar, Nigeria was sealed off on Wednesday for not remitting tax deducted from the salaries of workers under the PAYE system between 2005 and 2008.

Mr. Akomaye Adie, a director at CRBIRS, told the News Agency of Nigeria (NAN) in Calabar that the bank was reopened following an undertaking by the management to pay next week.

He said reopening of the bank was also based on the plea by other banks in Calabar that the continued sealing of the CBN would cripple their activities.

Adie said the amount involved was more than N100 million, but was reduced to N56 million following a waiver on interest and penalty. He said the CBN had paid N30 million but “refused” to pay the  balance of N26 million in spite of repeated demands and  representations by revenue officials.

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“The management of CBN had a long discussion with our chairman and at the end, they promised to pay the money next week unfailingly.

“In fact, the way the agreement was reached, the money will be remitted to us on Monday or Tuesday,” Adie said.

He said if the bank failed to pay the money as promised, “we may have to go back and seal the place again”.

NAN reports that normal banking activities had resumed at the apex bank office.

CBN officials in Calabar declined comments on the matter.