An eye for an eye as the Oyo government and IBEDC clash over debts

A drama ensued between the Oyo state government and the leadership of the Ibadan Electricity Distribution Company on Wednesday for the government’s default on the electricity debt of N450 million. The electric company disconnected the electricity supply from the state government secretariat due to the unpaid debt. In retaliation, the Oyo State Internal Revenue Office closed the IBEDC offices for “non-payment of accumulated taxes”. IBDEC described the closure of its office as “arm twisting tactics rather than debt repayment”. The company in a statement from its chief operating officer, John Ayodele, said the N450 million owed is for a period of three years. He explained that the company, as part of the efforts to achieve the payment of outstanding debts, initiated several commitments through correspondence and physical meetings, but all were unsuccessful. “No business in this country can run successfully with such a large balance, the energy we distribute to customers must be accounted for and paid for, we have no choice but to pull the plug on the Oyo Secretary of State, so it is worrying to see the The government has sealed our offices with this clandestine and devious tactic, instead of paying the debt,” Ayodele said in the statement. “This was not done in good faith and would have a detrimental effect on the business and delivery of services to our clients.” Oyo Government: IBEDC owes ‘over N400 million’ In its reaction, the state government denied claims that it closed IBDEC’s offices because the company disconnected government offices from the power supply. The government also said that the power company owes the government a total of N400 million in the last two years. The government said this through a statement, signed by the State Commissioner for Information, Culture and Tourism, Wasiu Olatubosun, on Wednesday. He did not deny that the State owed the electric company. Mr. Olatubosun added that the government had approached the Ibadan High Court of Justice to seek an order to seal IBEDC’s premises “because the company has been ignoring invoices provided to it by the Ibadan State Internal Revenue Service Board. Or me”. The Commissioner listed the company’s debt as: “Harmonized Bills – N139,440,000.00; Infrastructure bills -N22,590,000.00; Tax Audit Invoice -N116,516,111.41, Signaling Invoice N2 – N2,200,000.00, totaling the debt at N400,546,111.41”. He also said that the company never in any of its communications with the government revenue agency objected to the claim for the amount owed. ALSO READ: Magboro Community, IBEDC disagree over epileptic power supply “It is important that everyone remember that it is the duty of everyone, individuals and companies, to pay taxes and levies. Without these payments, the government cannot meet basic needs and perform necessary functions. Therefore, IBEDC, like any other business interest, must do what is necessary and meet its revenue obligations. “This is the position of the government and we seek the understanding of the people so as not to be deceived by those who trade falsehoods.” Olatubosun called on other business interests within the state to fulfill their obligation to the government in the area of ​​taxes and other revenue payments “without being forced.” Asked by PREMIUM TIMES about the government’s claims that IBEDC owes N400 million, Busola Tunwase, the company’s spokeswoman, said she cannot answer the question. Read More Related News Here Let here it in the comment below if you do have an opinion on this; An eye for an eye as the Oyo government and IBEDC clash over debts