Nigeria’s Federal Inland Revenue Service has instructed banks to freeze the accounts of media entertainment firm MultiChoice Africa and its Nigerian subsidiary for breaching agreements and denying access to their records for auditing. Multichoice Nigeria is a subsidiary of South African-headquartered MultiChoice Group, which provides television and other entertainment services across Africa.
The banks would have to recover ₦1.8-trillion naira (R63-billion) in outstanding tax obligations from MultiChoice Africa and MultiChoice Nigeria, the Federal Inland Revenue Service (Firs) said in a statement.
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“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,” the tax agency said.
MultiChoice Group said it would issue a statement soon. A representative of its Nigerian subsidiary could not immediately be reached by phone for comment.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry