The management of First Bank Nigeria Plc said some of its branches in Edo State were shut over its decision to comply with a court order.
The management of First bank said the closure of some of its branches in Edo State has nothing to do with tax-related issues but for implementing a court judgment in respect of an account the Power Holding Company of Nigeria has with it.
The management of First Bank said the decision of the Edo State Government to shut its branches was informed by its insistence on obeying a court order freezing an account of the Power Holding Company of Nigeria with it, but which the state government wanted unfrozen, and not for tax related issues as erroneously reported by certain media organisations.
The FirstBank’s spokesperson, Mrs. Folake Ani-Mumuney, said the Bank remains an institution that has held the finest tradition of good corporate citizenship since its inception in 1894.
Ani-Mumuney said: “The issue on ground is clearly not related to tax payment as the Bank is up to date in terms of fulfilling all its tax obligations in Edo State as well as other states of the Federation.
“The Bank’s stand of not contravening an order from a court of concurrent jurisdiction on the status of a PHCN account domiciled in FirstBank is at the heart of the issue and it is unfortunate that our customers are being denied access to the Bank in an issue where the Bank is merely a third party.”
According to Ani-Mumuney, FirstBank was served an order by a Benin High Court at the instance of Edo State Board of Inland Revenue with respect to a customer’s account, which had been frozen in compliance with an earlier injunction of a Lagos High Court.
Mumuney added: “FirstBank as a law abiding citizen is only obeying an existing court order that is yet to be variated or vacated.
“At FirstBank we align with globally accepted best practices and work in the best interest of our customers in accordance with the regulations of the sector and the rule of Law.
“This unflinching commitment to our customers is the reason we are working with all parties to ensure that our customers are spared further inconveniences.”
To this end, she explained that the Bank was engaging the Edo State Government officials to facilitate prompt resolution of the issue, adding that FirstBank had taken steps to ensure that its customers receive speedy services in the unaffected branches and cashless services via its alternative channels, including FirstBank ATMs in various galleries and FirstOnline, the Bank’s internet banking platform.
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