By Babajide Komolafe
Bureaux De Change (BDCs) operators across the country are set to petition the Central Bank of Nigeria (CBN) against ongoing suspension of their bank accounts over demand for tax remittances on their turnover volumes.
Last week most of the banks placed a ‘No Debit’ order on BDCs’ accounts in response to a directive by the Federal Inland Revenue Service (FIRS) demanding that BDCs pay taxes on funds used to bid for their dollar allocations sent to the CBN on weekly basis through the commercial banks.
One of the banks, in a letter to its BDC customers said: “The bank has, pursuant to section 49 of the Companies Income Tax Act LFN 2004 and Section 28, 29 and 31 of the Federal Inland Revenue Service (Establishment) Act No. 13 of 2007, been appointed by the Executive Chairman of the FIRS as collection Agent over your…
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