Polaris Bank In Trouble As Court Orders Arrest Of MD, Manager
A storm is brewing for Polaris Bank as Justice Maimuna Abubakar of the Niger State High Court 6 has issued a warrant for the arrest of the bank’s Managing Director, Omokayode Lawal, and the Minna Branch Manager over allegations of tax evasion amounting to over ₦1 billion.
The court order followed a suit filed by the Niger State Internal Revenue Service (NGIRS), represented by Muhammad Ndayako, accusing the defendants of willfully refusing to pay outstanding taxes owed to the state government.
During yesterday’s proceedings, both defendants were conspicuously absent despite being served court summons. Justice Abubakar, expressing her displeasure over their disregard for the court’s authority, directed the police to arrest them immediately.
According to the NGIRS, Polaris Bank had consistently ignored its tax obligations, prompting the agency to seek legal redress. The alleged tax debt has sparked outrage, representing a significant financial loss to the state.
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In her ruling, Justice Abubakar emphasized the importance of upholding the rule of law, noting that the bank executives’ absence was a clear act of contempt.
She stated that no individual or institution is above the law and that their continued disregard for judicial summons would not be tolerated.
The court adjourned the case to December 13, 2024, for the arraignment of the accused.
Meanwhile, the NGIRS has vowed to pursue the matter to a logical conclusion to ensure accountability and justice.
Sodiq Lawal is a passionate and dedicated journalist with a knack for uncovering captivating stories in the bustling metropolis of Osun State and Nigeria at large. He has a versatile reporting style, covering a wide range of topics, from politics , campus, and social issues to arts and culture, seeking impact in all facets of the society.
