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BUSINESS & ECONOMY

Oyo State Revenue Agency Shuts down Telco, 14 others for Defaulting on Fees

Oyo state

Oyo State Board of Internal Revenue has sealed off some 15 companies including telecom companies and banks for their failure to pay outstanding professional/business registration/renewal fees.

Companies affected are: a new generation bank in Dugbe; Kollington fisheries Oke-Ado; and a leading telco.

Some of the popular hotels sealed off include Best Western hotels, Iyaganku; Owu Crown hotel, Iwo-road; and Super K hotel.

Other affected companies are Avian Specialist Ltd; Red Star Express; a popular event centre, Watershed event centre, Florentina event centre, Clementina event centre, Abah hall and Osho event centre among others.

Mr Bicci Alli, Chairman, Oyo state Board of Internal Revenue,  said that the affected companies, had earlier been officially communicated of their outstanding debt to the government and another reminded of their inability to fulfil their payment within the regulated time through a letter from the office of the Director, Trade, Ministry of Trade, K.W. Mustapha, pointing out that only those who failed to comply as on Wednesday morning were sealed up.

The enforcement effort carried out by the Board, it was gathered is in pursuant to the provision of section 8(1-2) Oyo state professional/business premises law 1996 (as amended) for varying years being owed.

About Author

Victor Okeh is a graduate of Economics from Lagos State University. He is versatile in reporting business and economy, politics and finance, and entrepreneurship articles. He can be reached via – [email protected]

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