The Akwa Ibom State Government, through its Internal Revenue Service, announced that they have sealed three banks over failure to remit a total of N228 million to the state government.

The affected banks are two branches of Keystone Bank, located at Abak Road and Ikot Ekpene Road, Uyo, and Heritage Bank, located at Aka Road, Uyo.

The AKIRS Enforcement and Recovery Department sealed the banks on Thursday, 26 October following an order of Notice of Distrain from the Akwa Ibom State High Court, Eket Judicial Division.

Speaking with journalists in Oyo, the Executive Director of Enforcement and Recovery at AKIRS, Leo Umana, said Heritage Bank failed to remit its N100,270,910 tax liabilities to the state while Keystone Bank refused to pay N128,413,882 owed to the state government as tax liabilities.

AKIRS director stated that the banks were given warning notices but failed to comply after several months, adding that the agency had exhausted reconciliation and negotiation opportunities with the financial organisations before resorting to court action.

According to Leo Umana, under the law, the banks that are served the notice to distrain have 14 days to negotiate with AKIRS and vacate the order.

“If, after 14 days, they do not comply, we have the mandate of the court to sell the property and recover the tax owed the state,” he said.