An IT company, Geecat Solutions LTD has dragged Zenith Bank and 4 associated company; Quantum Zenith Asset Management Ltd, Quantum Zenith Trustees and Investments Ltd, Quantum Facilities Management Ltd, Quantum Zenith Capital and Investment Ltd all of 87 Ajose Adeogun street, Victoria Island Annex, to the Federal High Court, Ikoyi for deceitfully using the Value Added Tax details of Geecat Solutions LTD in the accounting and returns they made to Federal Inland Revenue Services .

This resulted in Geecat being billed millions of Naira as tax while the Zenith group amassed millions of tax as profits. This is a classic case of transferring their tax liabilities to Geecat Solutions LTD.

The 5 suits were filed on 15th February 2022 , by Chief Goddy Uwazurike of Uwazurike and Associates after efforts to resolve the issues failed.

According to Chief Uwazurike, there are 2 defendants in each of the suits and the claim is for N200million against each of the defendants. The second defendant is the Federal Inland Revenue Services.

The defendants have been served with the originating processes and they are yet to file their defences. The suits are expected to come up soon.