Fidelity Bank Branches Has Been Locked by Kaduna State Government

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The state government’s Internal Revenue Service locked the commercial bank’s branches in Kaduna.

Aisha Mohammed, the Legal Adviser and Board Secretary of the state’s tax administrator made it known during a press briefing.

The crackdown affected four branches, which are located in Ali Akilu Road, Ahmadu Bello Way, Polytechnic Road by Maimuna Gwarzo Junction, and Kachia Road.

What caused the shutdown of Fidelity branches

The company is accused of refusing to pay its outstanding tax returns for the last nine years. Mohammed stated that the tax has accumulated to N43.3 million.

READ ALSO: BAFI: Fidelity Bank wins Commercial Bank of the Year Award

This led Kaduna State government to approach the court and obtain an order to stop the operation of the financial institution led by Nneka Onyeali-Ikpe.

Prior to closing the branches of Fidelity Bank in Kaduna, the state government was said to have issued tax assessment five times on the lender, but no response was received.

She said the tax payment is enshrined in the constitution:

“This is provided for in Section 104 (3) and (4) of the Personal Income Tax (Amendment) Act. 2011 and Section 37 (3) and (4) of Kaduna State Tax Codification and Consolidation Law, 2020 as amended.”

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