Oyo Government Seals 12 Banks over Alleged 3-year Debt

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Not less than twelve banks in Ibadan, the Oyo state capital, were sealed on Monday, September 17, by the state’s Board of Internal Revenue for alleged non-payment of environmental development levy spanning over three years.

Punch reported that two law enforcement teams from the board stormed the banks to carry out the order.

However, some officials of the banks tried to prevent the teams from sealing their premises, if not for the intervention of security agencies attached to the teams to ensure that the order was carried out.

The banks affected are located in Dugbe, Ring Road, Challenge, Jericho, Bodies, Mokola and Iyaganku areas of the capital.

The amount owed by the banks according to the board ranged from N800,000 to N5m. The action led to customers finding it impossible to access the premises while those inside had to leave through other means.

Concerning the incident, Bicci Alli, the chairman of the board, revealed to newsmen that the banks were given sufficient notice and time to pay their debt.

Alli stated: “We wrote letters to them to perfect their books but they did not do the right thing. We published reminders in two national dailies but we did not get their response.

“It is unfortunate that we had to use this method to force them to do the right thing. It is a continuous exercise that will end at the end of the week.”