Oyo shuts Skye Bank, FCMB, others over levy


No fewer than 20 branches of new generation banks have been sealed in Ibadan, Oyo state government in Ibadan, Oyo State on Monday.

The move by the state government was done over failure to meet the annual environmental and developmental levy.

According to reports, banking operations in areas such as Dugbe, Mokola, Idi-Ape, Iwo Road, Secretariat Road, Challenge, Jericho, Bodija and UI were totally paralysed on when the combined task force team of the Oyo State Inter-ministerial Enforcement Unit swoop on the financial institutions to enforce compliance.

Some of the affected banks include Diamond Bank, Stanbic IBTC, Skye, FCMB and Heritage Bank.

It is believed that prior to Monday’s operation, the Oyo State Board of Internal Revenue (OYBIR), had last month issued a 14-day ultimatum to all taxpayers in the state to pay up all outstanding dues and levies to the coffers of government.

Chairman of the Board, Mr Bicci Alli, had warned that the agency would embark on massive enforcement to seal up all erring corporate organisations on the expiration of the ultimatum.

Alli added that the enforcement team decided to focus on banks to serve as a deterrent to other defaulting corporate organisations.