Akwa Ibom Govt. Shutdown GTBank Over N184m Tax Debt

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The Akwa Ibom State Government has sealed two branches of the Guaranty Trust Bank (GTBank) – Udo Udoma and Abak road in Uyo for alleged N184 million debt.

The Akwa Ibom State Internal Revenue Service (AKIRS) announced on Monday that the banks was sealed for failure to settle its outstanding tax liabilities.

The agency said the branches were shut after the agency acquired an exparte order of Notice of Distrain from the State High Court.

The Executive Director (Enforcement and Recovery) Leo Umanah said the board had exhausted reconciliation and negotiation opportunities with the bank.

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He noted that since they refused to remit taxes accruing to the state despite the long time given them, AKIRS is left with no choice but get exparte order to recover the state’s revenue.

The court order, signed by Justice Imeh Umanah, said access to GTBank premises and its facilities be restricted.

AKIRS had earlier issued a warning notice to the bank on the 4th of February, however the bank failed to comply with the warning 10 months after.

The bank instead sued AKIRS to court in Uyo, Port Harcourt and Benin, over the non-tax remittance but the cases were struck out in favour of AKIRS.

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