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Ekiti shuts branches of GTB, Ecobank for withholding tax

Ekiti shuts branches of GTB, Ecobank for withholding tax
May 25
19:59 2016

The Ekiti State Board of Internal Revenue has sealed Guaranty Trust Bank and Ecobank both located at Secretariat Road in Ado-Ekiti.

According to NAN, officials of the board stormed the banks early on Wednesday, taking workers and customers unawares.

The closure was said to be in connection with the inability of the banks to remit their taxes.

An official of one of the banks, who pleaded anonymity because he was not authorised to talk on the issue, said government had recently directed the two banks to submit documents relating to their deductions on withholding tax.


Confirming the sealing up of the banks, Lanre Ogunsuyi, the state’s commissioner for information, said government’s action was within the ambit of the law.

Ogunsuyi said the court granted the government power to seal the affected banks until they paid their taxes.

He said that the order was given by Ayodeji Daramola, chief judge of the state, on May 17.


The commissioner, however, appealed to customers of the two banks to show understanding with government on the issue, expressing hope that the matter would be resolved soonest.

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1 Comment

  1. Jagua
    Jagua May 25, 20:46

    Kindly ask Mr Governor who represented the banks when the judgement was given, was there any motion served the banks. Should a court give ruling when parties have not been heard. This is nothing but jungle justice.

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