Union Bank: CBN, SEC complete rights issues

Union Bank Nigeria Limited Sunday said it would respond to the closure of its Lokoja branch by the Kogi State Internal Revenue Service​ (KRS) through the appropriate channels even as it expressed disappointment over the handling of the issue by the authorities concerned.

According to the bank, this would ensure fair and proper assessment, prompt resolution of the situation and reduction of inconveniences to customers.

The Bank in a statement said: “As an institution with a proven track record of responsible corporate citizenship, it takes civic obligations seriously.

“For the benefit of our customers, the press, and members of the general public, we wish to state the following, with regard to the above-mentioned incident.

“Occasionally, as in this case, we may disagree with state entities over the objectivity of tax assessments carried out relating to our business. These are typically resolved through rigorous professional reviews and audits, and sometimes through legal channels.”


READ ALSO: Lagos Govt Reopens Recreational Parks, Stresses Adherence To COVID-19 Protocols

“We are therefore disappointed that in this instance, the Kogi State Internal Revenue Service has chosen to escalate the issue rather than work through a professional review process to seek a prudent resolution.​

“We are directing our response through the appropriate channels as our objective is to ensure fair and proper assessment, and subsequently, prompt resolution of the situation to reduce the inconvenience to our customers.”

The bank then urged customers impacted by the closure to choose convenient digital channels – UnionOnline, UnionMobile and *826# – which are available 24/7 for their banking needs.