Tax Default: Oyo Seals Banks In Ibadan

No fewer than 13 banks in Ibadan, the Oyo state capital city were denied access of business transactions while business activities were paralyzed in some others by officials of the Oyo state government on Monday.

Business activities had barely started when combined task force teams of the Oyo State Interministerial Enforcement Unit swoop on the financial institutions to enforce tax compliance.

As early as 9am, no fewer than 20 different branches of the various banks had been shut with sealed notices placed at the property.


Some of the areas the enforcement team carried out their activities include, Dugbe, Mokola, Idi-Ape, Agodi Gate, Secretariat Road, Challenge, Jericho, Bodija, and UI.

Other areas visited where the branches of the affected banks were located include, Aleshinloye, Bodija Market, Orita-Challenge, Ring Road and Total Garden axis.

While some banks have only one or two of their branches sealed, a particular branch had about 15 of its branches sealed for the same offence.

Some of the affected banks include Diamond, Stanbic IBTC, Skye, FCMB, Heritage, Eco, Fidelity, UBA, Union, and Standard Chartered.

Officials of the affected banks were seen running around to tidy up their papers to save losing the whole day’s business. While some succeeded in making the necessary payment as fast as they could to resume operations, some others were seen still trying to reach out to superior authority for a further directive.