Company Drags Zenith Bank, FIRS To Court Over Alleged Deceitful VAT Payments
Geecat Solutions Ltd, an information technology (IT) firm, has sued Zenith Bank and four connected firms in the Federal High Court in Ikoyi, Lagos, for “deceitfully” utilizing its VAT details in accounting and reports to the Federal Inland Revenue Service (FIRS).
Quantum Zenith Asset Management Ltd, Quantum Zenith Trustees and Investments Ltd, Quantum Facilities Management Ltd, and Quantum Zenith Capital and Investment Ltd are the four related companies, all of which are based at 87 Ajose Adeogun Street, Victoria Island Annex, Lagos.
Geecat Solutions Ltd claimed in five separate lawsuits filed on February 15, 2022 by Goddy Uwazurike of Uwazurike and Associates that the five firms’ activities resulted in it being billed millions of Naira in tax, while the Zenith group amassed millions of tax as profits.
This is a classic case of moving their tax liabilities to it, according to it.
After attempts to fix the concerns failed, Uwazurike said the IT firm was forced to seek redress in court.
Each of the suits names the five Zenith Group firms as defendants, as well as the FIRS.
The plaintiff is seeking N200 million in damages from each defendant.
The originating proceedings have been served on all of the defendants, but they have yet to file their defenses.
The lawsuits are expected to be filed in the near future.
