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Bank CEOs apologise to Reps for non-appearance

By on May 23, 2013

Nine bank chief executive officers who failed to honour the invitation of the House of Representatives Committee on Finance on May 12, complied with the summon on Wednesday with apologies in Abuja.

The bank chiefs, the News Agency of Nigeria reported, told the committee members that they were truly sorry for failing to honour the invitation.

The nine bank CEOs include those of Zenith Bank Plc, Sterling Bank Plc, Stanbic IBTC Plc, Skye Bank Plc and Keystone Bank Plc.

Others are Enterprise Bank Limited, Heritage Bank Plc, First City Monument Bank Plc, and Ecobank Plc.

The committee had on May 20 threatened to issue a bench warrant against the chief executive officers who failed to appear before it over their banks’ failure to render account on tax remittances.

Following the resolution of the House, the committee was mandated to oversight the Federal Inland Revenue Service to open up new revenue opportunities for the government.

The committee was also mandated to consolidate existing revenues and block leakages and waste.

It invited 21 banks for an interactive session where it intended to give the banks template forms to fill so as to extract their tax remittances to FIRS.

However, only 12 of the 21 banks sent representatives to appear before the committee.

The absence of the nine bank chiefs provoked the committee Chairman, Mr. Abdulmumini Jibrin, to threaten them with arrest if they failed to appear before it by Wednesday (yesterday).