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DBIR BLACKLIST UNION BANK AND DIAMOND BANK FOR UNETHICAL PRACTICES

January 8, 2013

Following the media reports of the alleged N1.1billion missing from the accounts of the Delta State Board of Internal Revenue (DBIR), an investigation was instituted, the findings of which have implicated two collecting banks for the State’s internally generated revenue (IGR). In a Press Release signed by Mr Obah Sylva, Media Assistant to the Chairman of the Delta State Board of Internal Revenue (DBIR), the two erring banks have been blacklisted from the list of IGR collecting banks in Delta State. See below for the full text of the press release:

“The Delta State Board of Internal Revenue wishes to inform the general public that, the board has black-listed Union bank and Diamond bank as IGR collecting banks for Delta state.

This became necessary after the two aforementioned banks deliberately delayed release of fund paid by a tax paying organization.

Our preliminary investigation revealed that the said fund was not only delayed beyond the stipulated time as proscribed by the law, but also fell far below international best practice.

The board has consistently had issues with some banks on this subject matter, which led to series of stake holder’s meetings with all IGR collecting banks. The most recent held on October 16th, 2012 at Hotel Excel, Effurun, Delta state.

The Executive Chairman of the board, Hon Joel-Onowakpo Thomas gave all IGR banks the last warning, and promised to sanction any bank that does not credit the board account in line with the stipulated laws.

We also call on CBN and EFCC to investigate this issue if the conduct of these banks are in line with international best practices.

Hence forth all our accounts in Union bank and Diamond bank are here by closed and all other business transactions terminated

We advise tax payers to use any of the board’s numerous accounts in other banks.

Any tax payer who deals with these two banks, does that at his own risk.

Obah sylva
Media Assistant to the Chairman,
Delta state Board of Internal Revenue.”

 

Diamond BankUnion Bank2

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