[b]In its bid to recover over N2 billion withholding tax owned
to it by commercial banks operating in the state, Imo State
Government yesterday through its Board of Internal
Revenue sealed up the premises of the eight defaulting
banks in compliance of a court order. The affected commercial banks are the Zenith Bank, UBA,
Union Bank, Diamond Bank, Keystone Bank, Enterprise
Bank,Eco Bank, Fidelity Bank and First Bank. Addressing newsmen, the state Commissioner for Internal
Resources and Pension Affairs, Mr. Nick Opara-Ndudu, said
the action was taken in compliance with a court order
granted the board of internal revenue authorising it to
distrain the operations of the banks after their failure to
heed repeated demands of the board to fulfill their statutory obligations to the state. “For the avoidance of doubt, the action was taken as a last
resort and following non- -compliance with the provisions of
the law by the affected financial institutions. This action of
the internal revenue is intended to send a signal to all
organisations and institutions operating in the state on the
need for them to meet their statutory obligations to the state and its citizens. “It is hoped that the affected institutions will take
immediate steps to clear the liabilities owed the state to
allow them to continue doing business in the state. “We have gone through our records and the affected banks
are yet to paid their statutory taxes to the state government
and when every entreaty to make them pay failed we had
no other option but to go to court. So, it is not true that the
state government imposed a levy on them, if their
headquarters have paid the tax our records will show it,” he said. Meanwhile, customers of the banks who had gone to the
banks to carry out business transactions were turned back by
the security guards.[/b]

http://sunnewsonline.com/new/politics/imo-govt-seals-8-banks-non-payment-taxes/

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wesley 80 i keep hearing that imo state has been blocked from collecting loans...i have searched for the story online but i have not seen it anywhere.....is there any link to the story?

asha 80: wesley 80 i keep hearing that imo state has been blocked from collecting loans...i have searched for the story online but i have not seen it anywhere.....is there any link to the story?

Just did a thorough search myself and the story seems to be mere propaganda by Rochas opposers as there are no facts to back up the allegations. I innocently fell for it and with apologies, i'm taking down my initial post.

asha 80: wesley 80 i keep hearing that imo state has been blocked from collecting loans...i have searched for the story online but i have not seen it anywhere.....is there any link to the story?

Why would you believe such baseless story? Only an illiterate and unenlightened man will take such claims with a pinch of salt. Imo is no where near one of the most indebted States and the present Government has not borrowed either. Akwa-Ibom and Rivers have borrowed more despite having the largest income.

There is nothing wrong with borrowing though. If he can borrow to complete the projects, its good but our concern should be on the quality of the projects. A lot have been unimpressive to me while others are ok.

IKEMBA NNEWI: inasmuch as i dont condone institutions evading tax, i think Rochas took this decision @ a wrong time, this is yuletide season, When withdrawals are high! The masses are the ones to bear the brunt!

The same masses who also suffer when there are no funds for critical projects requiring urgent attention....

The same masses that will benefit immensely when the money recovered is used to develop the state...

Carry on Rochas, i dey ya back!!!!

Imo Govt Is Broke: Request Tax Consults to Collect Minimum Of N2billion From Banks In The State.**state Civil servants are still being owned over 6 months salary.**CBN ban on the state not to borrow from both local and international banks is biting the state hard.Commercials Banks operating in Imo state are still under lock and keysas they declined to pay the unsolicited emergency flat withholding tax which a contracted tax consultant promised to use to generate a minimum of N2billion for the strapped state.This severe cash condition attest to over 6 months salaries owed to Civil servants in the state.Regrettable, the decision of the Nigerian apex bank, the CBN to ban the Imo state government from accessing further loan both from local and International financiers has made the cash condition even worse.Since the Okorocha’s government is longer availed the opportunity to borrow, he has resorted ‘extract’ the funds from the only Industry in Imo state, Banks and Hotels.The closure of banks for days now is technically crippling the economy of the state and adversely effecting the Small and medium seized businesses in the state.

http://www.ekoonibaje.com/imo-state-is-broke-6-months-salary-unpaid/

^^^^Why^^^^Are^^^^You^^^^So^^^^Stvpid^^^^?^^^^