Nigeria, June 2 -- The Cross River State Government has issued a stern warning to Bao Yao Iron and Steel Company over its failure to remit a tax debt of N1.2 billion to the state.

The warning came from Mr. Ayi Bassey, Director of Compliance at the Cross River State Internal Revenue Service (IRS), during an enforcement visit to the company's facility in Calabar on Monday.

Bassey explained that despite multiple lawful notifications and demands, the company has continued to ignore its tax obligations to the state.

"We have served them demand notice, final demand notice; for four periods they have been issued pre-action notices and they have done nothing to show they have a responsibility to the state.

"As a service, we view this as a del...