FIRS SHUTS DOWN NICON INSURANCE

The Federal Inland Revenue Service (FIRS) Thursday shut down the
Abuja Head offices of Nicon Insurance plc and other businesses
owned by Barrister Jimoh Ibrahim over tax liability in excess of
N6.2 billion.
FIRS tax enforcement team arrived both NICON Insurance plaza at
the Central Business District and Nicon Luxury Apartment at Area
11 Garki about noon Thursday. The two businesses concerns the
tax authorities said are defaulting in payment of Company Income
Tax (CIT) and Value Added Tax.
At NICON Insurance plaza, staff of the insurance company were
ordered out of the premises by FIRS tax enforcement team while
the main entrance to the plaza was shut. The tax team however
listened to complaint of other tenants operating offices within the
plaza and created alternative an entrance for them.
At Nicon Luxury hotel, where a crucial meeting of Peoples
Democratic Party (PDP), Concerned stakeholders meeting was
taking place, when the team swooped on the hotel their presence
caused partial disruption to PDP meeting. The gathering was given
up to 3pm to finish the session by FIRS tax enforcement team.
When contacted, FIRS spokesperson Wahab Gbadamosi said the
shutdown of the two businesses concerns was part of nationwide
enforcement by FIRS for tax compliance.