Lagos - The Osun State has threatened to sanction some banks over their failure to post revenue collected on behalf of the state through the e-payment system.
The government threatened to delist the errant banks from the state revenue collector's list.
Acting Chairman of the State Internal Revenue Service, Dayo Oyebanji, said some banks operating in the state owed government N1 billion.
Oyebanji said the debts were also part of taxes deducted from their staff and other rates but which the banks had refused to remit to the state government.
“Please be informed that our board would be left with no other option than to disdain your bank provided you failed to settle your backduty liabilities mainly on PAYE (pay as you earn) and withholding taxes for the year 2012,” the official stated in a warning letter issued to banks.
All banks in the state have been given up to Tuesday to comply with the directive.
The letter further stated, “The delay in posting revenue collected on behalf of the government through the e-payment system into the general revenue account impedes the flow of income; and the government has resolved that non-compliant banks shall be delisted from the list of revenue collection agents of the state government.”
The letter warned that the state government would do all it could to discourage such “unholy acts” and checkmate all other “unwholesome practices” in the banking sector within the state.
– CAJ News