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Home Anti-Corruption FIRS Appoints Banks to Freeze, Recover N1.8tr from Multichoice DSTV
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FIRS Appoints Banks to Freeze, Recover N1.8tr from Multichoice DSTV

By
Abdullah Ismail
-
July 8, 2021
Mohammed Nami FIRS Chair
Mohammed Nami FIRS Chair

FIRS Appoints Banks to Freeze, Recover N1.8tr from Multichoice DSTV

The FIRS has appointed some commercial banks as agents to recover the sum of N1.8 trillion from accounts of Messrs MultiChoice Nigeria Limited (MCN) And MultiChoice Africa (MCA). This was contained in a statement signed by the Executive Chairman, Muhammad Nami.

The statement confirmed that the decision to appoint the banks as agents and to freeze the accounts was as a result of the group’s continued refusal to grant FIRS access to its servers for audit. It was discovered that the companies persistently breached all agreements and undertakings with the Service, they would not promptly respond to correspondences, they lacked data integrity and are not transparent as they continually deny FIRS access to their records. Particularly, MCN has avoided giving the FIRS accurate information on the number of its subscribers and income. The companies are involved in the under-remittance of taxes which necessitated a critical review of the tax-compliance level of the company.

The statement added that the group’s performance does not reflect in its tax obligations and compliance level in Nigeria. The level of non-compliance by Multi-Choice Africa (MCA), the parent Company of Multi-Choice Nigeria (MCN) is very alarming. The parent company, which provides services to MCN has never paid Value Added Tax (VAT) since its inception.

The issue with Tax collection in Nigeria, especially from foreign-based Companies conducting businesses in Nigeria and making massive profits is frustrating and infuriating to the Federal Inland Revenue Service (FIRS). Regrettably, Companies come into Nigeria just to infringe on our tax laws by indulging in tax evasion. There is no doubt that broadcasting, telecommunications and the cable-satellite industries have changed the face of communication in Nigeria. However, when it comes to tax compliance, some companies are found wanting. They do with impunity in Nigeria what they dare not try in their countries of origin.

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The statement further confirmed that Nigeria contributes 34% of total revenue for the Multi-Choice group. The next to Nigeria from intelligence gathering is Kenya with 11%, and Zambia is in 3rd place with 10%. The rest of Africa where they have presence accounts for 45% of the group’s total revenue.

Information currently at the disposal of FIRS has revealed a tax liability for relevant years of assessment for ₦1,822,923,909,313.94 (One trillion, eight hundred and twenty-two billion, nine hundred and twenty-three million, nine hundred and nine thousand, three hundred and thirteen naira, ninety-four kobo only) and $342,531,206 (Three hundred and forty-two million, five hundred and thirty-one thousand, two hundred and six dollars only).

Under FIRS powers in Section 49 of the Companies Income Tax Act Cap C21 LFN 2004 as amended, Section 41 of the Value Added Tax Act Cap V1 LFN 2004 as amended and Section 31 of the FIRS (Establishment) Act No. 13 of 2007, all bankers to MCA & MCN in Nigeria were therefore appointed as Collecting Agents for the full recovery of the aforesaid tax debt.

In this regard, the affected banks are required to sweep balances in each of the above-mentioned entities’ accounts and pay the same in full or part settlement of the companies’ respective tax debts until FULL recovery. This should be done before the execution of any transaction involving the companies or any of their subsidiaries. It is further requested that the Federal Inland Revenue Service be informed of any transactions before EXECUTION on the account, especially transfers of funds to any of their subsidiaries.

The Executive Chairman, FIRS concluded that it is important that Nigeria puts a stop to all tax frauds that have been going on for too long. All Companies must be held accountable and made to pay their fair share of relevant taxes including back duty taxes owed, especially VAT for which they are ordinarily agents of collection.

Signed.
Abdullahi Ismaila Ahmad, PhD
Director, Communications and Liaison Department

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Lawyer Sues Housing Ministry, FHA Over Alleged Property RedesignNavy to Establish  Base in Kebbi to Tackle Inland Waterway CrimesArmy Commander's Compassion Keeps 100 Students in School in ZamfaraSam Obi Sponsors 500 Students in Evergreen, SimplifiedIQ's Education ProgramNIPR Hails customs Boss' Tenure Extension as Evidence of Transformational LeadershipAkwa Ibom Boosts National Security with Land Donation for Nigerian Air Force BaseCustoms Unveils Renewable Energy Handbook, Strengthens EU-Germany-GIZ PartnershipUNIMAID Mass Comm becomes Faculty of Communication and Media StudiesTinubu’s Extension of Customs CG Bashir Adeniyi’s Tenure Draws Widespread Praise and ReactionsArmy Troops, DSS Nab Arms Trafficker in Taraba, Recover Ammunition, CashIG Reaffirms Commitment to Tackling Oil Theft, Upholding Human RightsNorthern Leaders Urge Action on Almajiri Crisis, Equitable Resources at Arewa Summit in KadunaArmy Denies Allegations of Misconduct in Imo CommunityTroops Repel Bandit Attacks in Katsina, Plateau, Recover Rustled Cattle, Sustain CasualtiesNavy Destroys 10 Illegal Refineries in Niger Delta
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