The Federal Government of Nigeria has arraigned Saipem Contracting Nigeria Limited and two of its directors before the Federal High Court in Lagos over an alleged tax fraud valued at N66.4 billion and $938,080.
The six-count criminal charge accuses the company and its executives of failing to remit statutory taxes between 2014 and 2019, including Value Added Tax (VAT), Company Income Tax (CIT), and stamp duties allegedly owed to the Federal Government.
Court documents also allege that the defendants submitted false financial statements and tax records in a bid to conceal liabilities linked to the company’s operations during the period under investigation.
According to Brandspur Banking News Desk, the Federal Inland Revenue Service (FIRS), acting on behalf of the Federal Government, is seeking prosecution over what authorities described as deliberate tax evasion and financial misrepresentation involving billions of naira in unpaid obligations.
At the latest court sitting, counsel representing the defendants challenged the competence of the charges and filed a preliminary objection seeking to halt proceedings.
The trial judge subsequently adjourned the matter until June 29 for hearing of the objection and further proceedings in the case.
The development adds to growing regulatory scrutiny on corporate tax compliance in Nigeria, particularly involving multinational firms operating in the country’s oil and gas sector.
