Banking Briefs
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THE Federal Inland Revenue Service, FIRS, is probing top officials of six companies operating in Lagos, for not remitting tax revenue amounting to N2.4 billion. The companies and their outstanding tax liabilities, according to the FIRS, are Leaders and Company Limited, N228.5 million; Lottoj Oil and Gas Limited, N14.4 million; First Deep Water Limited, N63.1 million; Tonique Oil Services Limited, N27.79 million; Tak Continental Limited, N960.2 million; and Alliance and General Insurance, N1.13 billion.
The FIRS, in a statement on Tuesday, October 21, said the officials of the companies were not only quizzed for failing to remit their outstanding tax liabilities, but had also not file their tax returns as required by law. The organisation had on October 3, 2014, in Lagos, embarked on a similar tax recovery exercise against Baker Hughes, Line Trale, Tecon Oil and Heyden Petroleum, all operating in the oil and gas industry.
It will be recalled that Kabir Mashi, executive chairman, FIRS, had said at the regional enlarged management meeting of the organisation in Ibadan, in September that it would be compelled to invoke relevant laws against recalcitrant taxpayers. The statement noted that the recent enforcement exercise in Lagos, was led by Anita Erinn, head of debt enforcement and special prosecution unit, FIRS.
It said the exercise became necessary following the companies’ refusal to respond to notices and letters of reminders to fulfil their tax obligations. Erinn said the exercise was aimed at recovering arrears of taxes accruing to government from Company Income Tax, Education Tax, Withholding Tax and Value Added Tax as well as compelling the companies to file their annual tax returns. She said the top officials of the companies were still being questioned by the special purpose tax officials at the FIRS office in Lagos.
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Skye Bank Donates Facilities to Public Schools
SKYE Bank Plc has embarked on various corporate social responsibility projects in its host communities across the 36 states of the federation. The projects, which are basically in the education sector, seek to improve learning and teaching in public schools.
According to a statement from the bank, the projects, which will benefit 39 host communities in the current year, are being undertaking in line with the United Nations Educational and Scientific Organisation’s, UNESCO, policy on World Literacy day. This follows the adoption of ‘Literacy Day’ by the bank as a foundation of their support for schools and learning.
The bank said their objective was to establish the link which connects the trend of literacy, supporting schools with educational resources and improving on the reading culture of students, which ultimately will affect productivity and national development in the long run.
Some of the projects being adopted through renovation and rehabilitation by the employees include the inclusive section of State High School, Ogba, Lagos, where facilities for Autistic, Down syndrome, hearing impaired etc Pupils are being renovated.
Others are the Air Force Primary School, Victoria Island, Lagos; Government Secondary School, Hwak, Kuru; Junior Secondary Peyi, Abuja and African Church Comprehensive High School, Alagbaka, Akure, where computers, exercise books and text books were donated. Chairs and tables have also been donated in other places just as libraries have been built and renovated and ICT Centre created and fully equipped.
Other projects covered by the intervention of Skye Bank include provision and renovation of school buildings; provision of sick bays for schools, beautification of schools; provision of materials like projectors and other visual aids and provision of water supply or bore holes to schools.
— Nov. 3, 2014 @ 01:00 GMT
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