14 June 2018

Nigeria: Oyo Shuts Bank, Hotels, Firms Over Tax Evasion

The Oyo State Board of Internal Revenue, yesterday, sealed off no fewer than 15 companies for allegedly failing to pay their taxes and levies.

Some of the affected firms included banks, a telecommunications outfit, hotels, event centres and other merchant outfits within Ibadan metropolis.

The task force, made up of representatives of various government's income-generating agencies in the state, commenced the exercise from a new generation bank in the Dugbe area of the capital

The chairman of the revenue board, Mr. Bicci Alli, said the affected companies had earlier been officially communicated of their outstanding debts by the office of the Director, Trade, Ministry of Trade, K.W. Mustapha, yet failed to fulfill their own obligations, adding that only those who failed to comply as at yesterday morning that were sealed.

He said the operation was pursuant to Section 8 (1-2) of the Oyo State Professional/Business Premises Law 1996 (as amended).

However, upon getting wind of the invasion, some of the companies swooped on the office of the board within the state secretariat to regularise their papers and promptly effect payment to save their businesses.

Alli said it is high time citizens and residents cultivated the culture of paying taxes promptly to state and federal authorities.

He pointed out that the corporate entities affected by the inter-ministerial emergency exercise had been duly informed before the execution of exercise yesterday.

His words: "Basically, what we are doing is not different from what we are supposed to do. That is, just that we make sure we are ensuring that people do what they are supposed to do and that what is due to Oyo State is accrued to it."

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