FIRS Seize Davido’s Bank Account For Non Payment Of Tax, Takes Over His Financial Operations

The Federal Inland Revenue Service (FIRS) have allegedly seized and taken over the bank account of Davido’s record label, DMW, as a result of non-payment of tax.

The Federal agency published over 19,000 names of Nigerian individuals and companies who are tax defaulters yesterday and the list got filled with names of prominent Nigerians which inlcuded former president, Olusegun Obasanjo as well as some of your favourite companies.

On the list appears Davido Music Worldwide Ltd. (DMW), and the FIRS revealed they have taken over the company’s account and will start monitoring its financial opearations until the tax deficit are cleared by the company.

It said, “This is to notify all companies, which had their bank accounts placed under lien by the Federal Inland Revenue Service pursuant to Section 31 of the FIRSE Act but are yet to regularise their tax status with the FIRS, that if they fail, refuse or neglect to pay the tax due within 30 days of this notice, the FIRS shall in accordance with Section 49 (2) (a- d) of the FIRSE Act proceed and enforce the payment of the said tax against all the directors, managers, secretaries and every other person concerned in the management of the companies and recover the said tax from such persons without further notice.

“For the avoidance of doubt, the above section authorises the FIRS to proceed against and punish every officer, manager, director, secretary or any person concerned with the management of the company in like manner as if he/she had committed the offence.”

There hasn’t however been an official statement from DMW, but fans are patiently waiting, hoping that this accusation would be addressed by Davido and his management team to put out panick amongst them.