Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Osun sanctions banks over debt

30 December 2013, 10:01Henry Ifeanyi

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


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...