BUSINESS

EDO REVENUE SERVICE SEALS MARKET SQUARE OVER N27M TAX DEFAULT
The Edo State Internal Revenue Service (EIRS) has shut down the Benin City branch of Market Square (Sunday Foods) for allegedly owing taxes exceeding N27 million.
In a statement, the Head of Corporate Communications at EIRS, Courage Eboigbe, explained that the enforcement followed the company’s failure to settle liabilities uncovered during a five-year audit.
The audit, which covered 2018 to 2023, reportedly revealed outstanding payments on Pay-As-You-Earn (PAYE) and Withholding Tax. According to EIRS, the assessment was duly communicated to the company, and with no objections raised within the stipulated period, the debt became final and enforceable.
Eboigbe noted that despite repeated reminders, the company failed to clear the arrears, prompting the revenue authority to obtain a court order to seal the premises.
“The Edo State Internal Revenue Service on Friday, September 19, 2025, sealed the premises of Market Square (Sunday Foods) for non-payment of taxes amounting to N27,005,117.97. The EIRS is prepared to unseal the premises immediately upon confirmation of full payment,” the statement read.
He further stressed that tax payment remains a key civic responsibility for both businesses and individuals in the state, as the revenue is essential for infrastructure and public services.
EIRS, he added, appreciates organisations that comply voluntarily and urged defaulters to settle their obligations promptly to avoid similar enforcement actions.
"This represents a significant development in our ongoing coverage of current events."— Editorial Board