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Breaking: Oyo admits owing N450m but reveals why IBEDC office was sealed

Breaking: Oyo admits owing N450m but reveals why IBEDC offices were sealed



Oyo State Government has explained the rationale behind its action to seal some offices of Ibadan Electricity Distribution Company (IBEDC).

DAILY POST had earlier reported that all the major offices of IBEDC in the state were sealed by the state government.

The offices were sealed by the state government through the Oyo State Bureau of Internal Revenue Service on Wednesday.

IBEDC in its argument said that the state government sealed its offices because it (IBEDC) disconnected the power supply to the government secretariat.


Chief Operating Officer of IBEDC, Engineer John Ayodele, in a statement made available to DAILY POST on Wednesday, explained that the state government was owing the company a consumption outstanding of N450m for over a period of three years.

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But, the state government has said that it sealed the offices due to accumulated revenue bills.

Commissioner for Information, Culture and Tourism, Dr. Wasiu Olatubosun, while responding, said that the government sealed the offices because the company
has been owing revenues totalling over N400 million naira.

Olatubosun in a statement made available to DAILY POST on Wednesday, insisted that the company has been owing the money in the last two years.


He added that the offices were sealed because of the outstanding revenues and not because the company disconnected the government secretariat.

He said that the government approached the High Court of Justice in Ibadan to seek an order to seal off the offices of the company.

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He explained further that the company has been ignoring bills served by the men of the Oyo State Board of Internal Revenue Service for the past two years.

He spoke further by saying that the “accumulated bills as follows: Harmonised bills, N139,440,000.00, Infrastructure bills N122,590,000.00, Tax Audit bills N116,516,111.41 and Signage bills N22,000,000.00”.


Olatunbosun while speaking further added that the refusal of the company to pay the outstanding revenues made the state government to seal the offices.

He said, “The company has never in any of their communication with the government revenue agency, objected to the claim of the figure owed.

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“It is important for everyone to remember that it is the duty of all, individuals and businesses, to pay taxes and levies. Without these payments, the government cannot provide basic necessities and perform necessary functions.

“Therefore, IBEDC, like any other business interest, should do the needful and meet its revenue obligations.


“This is the stand of the government and we seek the understanding of the people not to be misled by those who trade in falsehood.”


Culled from DAILY POST


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