FG reveals what banks will do to accounts of tax defaulters
failing which they risk forfeiting the tax equivalent directly from their bank accounts to the Federal Government
He said that banks have been instructed to “sweep the accounts of tax defaulters into the Federation Account after 30 days.”The FIRS boss noted that since the bank lien on tax defaulters’ accounts was initiated 60 days ago, the Service has granted an additional 30 days – making it 90 days – for the defaulters to regularise their tax status.
Some of the letters, he said, have not been delivered because the addresses of the defaulters may have changed.
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