OYO GOVERNMENT SEALS BANKS OVER TAX DEFAULT

A source within the Government Enforcement Team said the affected banks defaulted in the payment of the annual Environmental Development Levy, explaining that the levy which constitutional is paid to the coffers of the State Government.

Penpushing gathered that the affected banks had defaulted within the period ranging from 2015 to 2018, despite series of official communications and reminders to the management at different times.

It would be recalled that the Oyo State Board of Internal Revenue (OYBIR), the coordinating Agency for collecting all Government revenues had last month issued a 14 day ultimate to all tax payers in the State to pay up all outstanding dues and levies to the coffers of Government.

The Chairman of the Board, Bicci Alli had warned in the paid advertorial that the agency would embark on massive enforcement to seal up all erring Corporate Organisations on the expiration of the ultimatum.

Penpushing gathered further from a source that about two weeks after the expiration of the 14 days, the OYBIR had also written series of reminder letters to the affected banks, to which no response was gotten until the enforcement.

The Chairman of the Board said, the enforcement team decided to focus on banks to serve as deterrent to other defaulting Corporate Organisations, adding that the exercise is continuous.