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Infinity Trust Mortgage Bank Plc, has accused the Federal Inland Revenue Service (FIRS) of illegally sealing its premises in Garki, Abuja and thereby making it to lose investment opportunity worth several millions of Naira.

The Chief Financial Officer of the bank, Samson Abaka, said FIRS officials accompanied by armed security operatives stormed the bank premises and sealed it up without prior notice, over alleged nonpayment of tax.

Abaka alleged further that the action of the FIRS Officials scared away customers and investors who were already in the bank transacting business.

He emphasized that the bank has paid its tax up to date and wondered why a reputable government agency like the FIRS will act without consulting its tax record.


“We immediately went to FIRS office to salvage the situation which has already cost the company millions of Naira. We presented all our tax receipts for 2015, 2016 and 2017 which shows that the company is not in any way indebted in tax payment. The officer in charge promised to send officials to unseal the premises the next day (Friday) , but as at 9 a.m Friday, March 2, 2018, the premises is still under seal,” The chief financial officer explained.

Also, the Head Admin and Human Resources of the bank, Fumi Adetunji who corroborated the statement of the Chief Financial Officer said the FIRS supposed to have a standard procedure of enforcing compliance in line with the best practices. She insisted that the bank is not in any way owing tax, adding the action of the FIRS has put the reputation of the bank at stake.

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The management of the bank therefore called on the FIRS to immediately unseal its premises.

As at the time of filling the report, staff and customers of the bank were seen outside the sealed premises looking stranded as their belongings were still inside the bank.

Documents sighted by our reporter revealed that in 2015 alone, Infinity Trust Mortgage Bank paid N40,000,000 as tax. The mortgage bank is rated from it’s recent stock exchange award as the leading mortgage bank in the country

The FIRS is yet to respond to the allegation.

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