FINANCE

Alleged Oyo Govt’s N.4b Debt And IBEDC’s N.4b Debt: Who Is Lying?

<h4>Alleged Oyo Govt’s N&period;4b Debt And IBEDC’s N&period;4b Debt</h4>&NewLine;<a href="https&colon;//openlife&period;ng/">OpenLife Nigeria</a> reports that the people and other stakeholders in Oyo State are currently at cross roads over conflicting statements from both Oyo State government and Ibadan Electricity Distribution Company over the sealed offices, by Oyo government, of Ibadan Disco&period; &NewLine;The Oyo State Board of Internal Revenue has explained that it sealed offices of the Ibadan Electricity Distribution Company over a tax default in excess of N400m&period; &NewLine;In a statement by the revenue board on Wednesday, its Chairman, Femi Awakan, said that the state government duly obtained a distraining order of the Oyo State High Court before sealing some of the offices of the distribution company&period; &NewLine;Some of the offices affected by Wednesday’s action include the company’s headquarters in Ring Road, <a href="https&colon;//punchng&period;com/">Ibadan</a> and its offices at Mobil, off Ring Road, Dugbe, Ojoo/Iwo Road office as well as Monatan, all in Ibadan&period; &NewLine;On the other hand, the disco alleged that the Governor Seyi Makinde’s government illegally sealed off its offices following the disconnection of electricity supply to the State Secretariat which also houses the Governor’s Office&period; &NewLine;&OpenCurlyDoubleQuote;Oyo State Government is owing IBEDC a whooping consumption outstanding of N450 million for over a period of three years&period; &NewLine;&OpenCurlyDoubleQuote;No business in this country can run successfully with such a huge outstanding,” IBEDC had claimed&period; &NewLine;However, the state’s internal revenue board in its reaction, said it took the decision to seal off the offices of the distribution company over a tax default in excess of N400m&period; &NewLine;Who is saying the truth&quest; Stay with OpenLife for the truth&period;&NewLine;