Business
FIRS shuts down Jimoh Ibrahim’s companies over N6.2bn tax evasion
These are certainly bad times for acclaimed turnaround expert, Mr. Jimoh Ibrahim, as the Federal Inland Revenue Service (FIRS) on Thursday sealed up the Abuja Head offices of Nicon Insurance plc and other businesses owned by the Ondo-born business mogul over tax liability in excess of N6.2 billion.
Ripples Nigeria was reliably informed that the FIRS tax enforcement team arrived both Nicon Insurance plaza at the Central Business District and NICON Luxury Apartment at Area 11 Garki about noon to carry out the exercise.
The two businesses concerns the tax authorities said are defaulting in payment of Company Income Tax (CIT) and Value Added Tax.
Read also: Udoma gives breakdown of 2016 budget
At Nicon Insurance plaza, staff of the insurance company were ordered out of the premises by FIRS tax enforcement team while the main entrance to the plaza was shut. The tax team however listened to complaints of other tenants operating offices within the plaza and created an alternative entrance for them.
At Nicon Luxury hotel, where a crucial meeting of Peoples Democratic Party (PDP), concerned stakeholders meeting was taking place, when the team swooped on the hotel their presence caused partial disruption to the PDP meeting. The gathering was given up to 3pm to finish the session by te FIRS tax enforcement team.
Contacted, FIRS spokesperson Wahab Gbadamosi said the shutdown of the two business concerns was part of a nationwide enforcement by FIRS for tax compliance.
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