19,000 Companies Nigeria’s FIRS Has Seized Their Bank Accounts Over Tax Defaults [Full List]

19,000 Companies Nigeria’s FIRS Has Seized Their Bank Accounts Over Tax Defaults [Full List]

Nigeria’s tax agency (FIRS) has seized some company bank accounts over non payment of taxes. Check if your company is among! After the query from the Presidency, we all expect FIRS to go to battle with tax defaulters.

The Presidency queried the Chairman of Nigeria’s tax agency on the nation’s “recent” lackluster performance on our tax receipts. The Chairman, Mr. Babatunde Fowler, responded explaining what everyone had already known: Nigeria’s has no sustainable economy. Yes, we are in a stage with the pendulum controlled by oil prices. His response was believable if you remove the alternative situation [Nigerians do not believe their leaders anymore]

Here is the file for download.

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6 thoughts on “19,000 Companies Nigeria’s FIRS Has Seized Their Bank Accounts Over Tax Defaults [Full List]

  1. This action has been incubating for the past 5 years. Keeping financial record is the bane of most Nigerian Businesses.Therefore, in my work with young Entrepreneurs, one of the key things I try to do. is to help them develop the mindset of basic book keeping, financial separation and understanding Accounting principles and Taxation.

    The three main function of a company is to “Employ people, collect tax for Government and pay shareholders some money”. This function shows that taxation is a very important component of Entrepreneurship. I see this move as a way to open up significant opportunities for Actuarial Science in Nigeria and drives legitimate business. I will encourage the Tax office to support coaching and training in Taxation for small , medium and Large businesses. I suggest the carrot and stick approach until Taxation becomes a business culture.

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    1. “I will encourage the Tax office to support coaching and training in Taxation for small , medium and Large businesses.” Very good perspective. Many SMEs do not even understand the construct of taxation. That training will help.

      Reply

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