First Bank, FIRS dragged to court over alleged account manipulation, slammed with N25bn damages
A Nigerian company, Biatemp Ventures Ltd., has dragged First Bank of Nigeria and the Federal Inland Revenue Services to court.
In the suit filed before the Federal High Court, Abuja, the company is also seeking the sum of N25 billion for special and general damages arising from the alleged manipulation of the account, business losses due to its withheld Tax Clearance and the embarrassment it suffered. The plaintiff said the alleged manipulation of the account was discovered by FIRS intelligence findings when it filed its 2018 tax return forms and awaiting issuance of its tax clearance certificate.
Specifically, the federal revenue collection agency said its intelligence unit discovered that the company had a turnover of over $6.8 million in its corporate account, which was withdrawn by its Chief Executive Officer in about four respective transactions.
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