Tag Archives: gtbank

Wielding The Big Stick; Why Kano Govt Locks 5 GTBank Branches In One Day

The Kano State Internal Revenue Service (KIRS) on Tuesday sealed five branches of Guaranty Trust Bank (GTB) over tax evasion. This made many customers of the bank to be stranded.

The closure of the popular bank, according to the agency, is in line with an order issued by Kano State High Court over the bank’s failure to audit and pay its taxes between 2014 and 2019. The affected branches include Murtala Muhammad Way, Wapa, Zaria Road, Bachirawa and France Road.

Briefing newsmen during the exercise, the Legal Director of the agency, Barrister Bashir Yusuf Madobi, said the bank’s refusal to pay the amount accruing to N1,005,687,755.55 or release some of their audit reports forced the agency to take the action.

He said, “What irritated us to take this action is that right from the initial stage, we demanded some documents from them which they failed to honour us and give us the documents.

“As a revenue authority, KIRS is saddled with the responsibility of enforcing payment of taxes. One of the procedures we follow in order to enforce payment of due tax is by instituting a court case before a competent court. So, we decided to file this case before the State High Court on ex parte application.

“This is why we went there today to enforce the judgment and enforce the payment of due tax as provided under the extant revenue laws. “The money is over N1bn. The next line of action is for them to come so that we sit down and sort it out if they are willing to do so,” Barrister Madobi said.

On the condition for reopening the sealed branches, KIRS said the bank must pay a minimum of 25 per cent of the liability and provide the earlier requested documents.

Customers Suffer As Landlord Fights GTBank Over N5M

-Remi Ajayi

The teeming customers at the GTBank e-branch located on Ring Road, Ibadan are full of complains and regret over an issue between the financial institution and the owner of the property.

The customers have nowhere to park their cars as the landlord, Toba Fabiyi decided to embarrass GTBank over an agreement and built nail concrete to prevent cars from parking within the premises.

Papermacheonline gathered that the bank and the landlord entered into an agreement some years ago to rehabilitate the car park and a total sum of five million naira was approved by the bank for the project.

After signing the agreement, the landlord executed the project but the Segun Agbaje led bank reneged on its promise to refund the landlord causing him to mount iron barricades to stop customers from using the car park.

A GTBank customer, Olu Adams who sighted this reporter taking photographers hinted that the matter is so embarrassing. In his words he said ‘I don’t expect a bank of this stature to be having this silly issue, imagine my car was bashed last week when I came here because I couldn’t park within the premises, had to manage for space by the roadside’.

An aide of the landlord also informed papermacheonline that GTBank wanted to cheat the landlord and that he would have none of that.

He hinted that the building has accommodated the bank for more than five years.



Additional Report : PMPARROT