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In a recent development, a Magistrate Court situated in Wuse Zone 2, Abuja, has issued an order for the Federal Capital Territory Internal Revenue Service (FCT-IRS) to seal off Ifedi A.K. Nigeria Ltd, a company accused of failing to file annual returns.
The decision was reached by Magistrate Janada Balami after the attorney representing FCT-IRS, Michael Towolawi, presented the application for enforcement.
Towolawi informed the court that Ifedi A.K. Nigeria Ltd had neglected to submit its annual returns from 2019 to 2023, contravening Section 81 of the Personal Income Tax Act, LFN, 2004, as amended in 2011. Despite various attempts to compel compliance, the company remained non-responsive.
Consequently, the lawyer requested the court to summon the company to provide an explanation for its breach of the law.
Magistrate Balami, recognizing the merit of the agency’s application, granted the order to seal the company’s premises located at No. 6, Rudolph Close, Off Katsina-Ala Street, Maitama, Abuja.
Additionally, Balami mandated the company, the sole defendant in the case, to appear before the court on May 16.
Following the proceedings, Festus Tsavar, the Director of Legal Services at FCT-IRS, informed reporters that the agency would take action against companies failing to fulfill their obligation of filing annual returns as mandated by law.
He emphasized the crucial role of internally generated revenue in funding developmental projects in the FCT, particularly under the administration of the new minister. Tsavar underscored the significance of compliance with tax regulations to ensure the timely execution of government projects.
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