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Ifeanyi Ubah FIRS shuts businessman’s company, Capital Oil over N30M tax debt

The staff of the company were also reportedly evicted from the premises despite saying that they were ready to pay off the debt.

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Ifeanyi Ubah play

Ifeanyi Ubah,  the chairman of Capital Oil and Gas

(Osun Defender)
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The Federal Inland Revenue Service (FIRS) has reportedly shut the Lagos office of Capital Oil, a company belonging to prominent businessman, Ifeanyi Ubah, due to a tax debt of N30 million.

Ubah’s company was shut on Monday, June 27, 2016, by an FIRS enforcement team, according to Sahara Reporters.

The staff of the company were also reportedly evicted from the premises despite saying that they were ready to pay off the debt.

“We assessed and gave them notice of what they owe as tax. They did not respond to our communication. This was followed up with two separate reminders,” FIRS enforcement team leader, Chinazo Udeh said.

“Thereafter, a demand notice was sent to them with all these largely ignored. After the expiration of the one month window following the final notice, we were left with no option but to enforce the law,” he added.

The company is yet to issue an official statement on the incident.

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