The Federal Inland Revenue Service (FIRS), said it received from First Bank PLC, a purported overbloated turnover of account of a company, Biatemp Ventures Ltd, seeking redress for alleged manipulation of its account.
In a Statement of Defence filed before a Federal High Court, Abuja, FIRS said that it received from First Bank a compact disc containing evidence that the indigenous company received a cash flow of over $6.8 million. The company had sued First Bank and FIRS demanding N25 billion special and general damages over alleged manipulation of its domiciliary account and illegal withholding of its tax clearance certificate.
Biantemp alleged that First Bank manipulated its domiciliary account with over-bloated turnover of over $6.8 million (about N2.4 billion) whereas the deposit made to the account within the period was only $22,475 (about N8, 091,000)
The company claimed that the alleged manipulation of its account and the delay in issuing its tax clearance certificate impeded it from participating in bids for several business opportunities leading to severe economic losses and huge embarrassment.
In the statement of defence filed on behalf of FIRS by Messrs N.J. Kalu and Co. the federal revenue collection agency said it acted based on the information provided by the bank.
Specifically, Mr Oyerogba Kehinde, a Senior Manager (Tax) with FIRS deposed that: “the second defendant (FIRS) was only performing its statutory function based on the information received from the first defendant (First Bank)”
“That First Bank in compliance with the statutory provision, forwarded a compact disc (CD) to FIRS which contained evidence that plaintiff received a cash flow of ($6,861,618.00) into its account domiciled with the bank.
“At the trial, FIRS relied and found on a letter dated Jan. 4, 2018 forwarding the said CD.
“FIRS shall also rely on a copy of printout from its data base, showing the dollar inflow into the plaintiffs account with the bank. FIRS only acted on the information and facts willingly provided by First Bank.
“That the bank has never written to deny the fact it forwarded the compact disc containing information and evidence showing that the plaintiff received a cash flow of $6,861,618:00 on November 28, 2018.