Newman Babson
The Oyo State Board of Internal Revenue on Monday sealed off some commercial banks in Ibadan over an alleged failure of their managements to settle their taxes
The Tax known as Annual Environmental Development Levy was to be paid by all banks and companies operating in the state.
Customers who wanted to make huge deposits were not able to gain access to the banks which were sealed up but those who used ATM were not as they went to other banks for their transactions.
Findings revealed that the operations were carried out by a team from Oyo State Board of Internal Revenue (OYBIR) which was saddled with the task of internal revenue generation for the State.
The Board had earlier sent notices to the affected banks in all parts of the state with a deadline clearly stated,an official of the Board who did not want his identity known revealed.
Managers of the affected banks which are located at Bodija, ,Challenge, Agodi , Mokola and others have started resolving the issues as some of them sealed up in the morning have resumed normal transactions by noon.
It was learnt that the exercise would be extended to all parts of the state.
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