River State Governor Threatens to Shut Down Banks, other Businesses

River State Governor Threatens to Shut Down Banks, other Businesses

Governor Nyesom Wike of River State has threatened to shut down banks and other businesses if they continue to pay Value Added Tax (VAT) to the federal government through the Federal Inland Revenue Service(FIRS).

He made the statement today during an interactive session with corporate organizations in the state.

Recall that there is an ongoing cold war between the FIRS and the Rivers State Government over which authority has the right to collect VAT. Information Guides Nigeria

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According to reports by RipplesNigeria, the governor’s threat was a reaction to a Federal High Court ruling, which dismissed FIRS’ move to stop the state government from collecting VAT until the determination of the matter in court.

Governor Wike encouraged businesses and organizations to pay their taxes to the coffers of the state government for the improvement of infrastructures and crucial sectors in the state.

Stressing on the issue, Wike said:  “What we are doing is not against the law and it is obvious for everyone to see. In September, a lot of projects are earmarked to be commissioned. Kindly pay your taxes”.

The governor added: “Rivers state will not hesitate to apply sanctions in line with the VAT laws to defaulting organisations. This is part of giving governance a human face”.

As reported by RipplesNigeria, Wike stressed that states have been authorized by the court to collect tax.

Earlier, RipplesNigeria had reported that the governor warned FIRS over the issue of sabotaging the state government in order to administer its own tax and other related laws in the state.

Wike advised the people not to worry, adding that the issue is constitutional and should have nothing to do with politics or political parties. JAMB Result

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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