SAN FRANCISCO, May 02, (THEWILL) – The Osun State Internal Revenue Service (OIRS) has shut down the Obafemi Awolowo University (OAU), Ile-Ife, over its failure to remit over N1.844,770,939.45 in tax to the agency.
The closure of OAU and other establishments in the state followed the expiration of the seven-day ultimatum issued to all affected establishments by the state government.
The institution was shut by officials of the Revenue Task Force who arrived the campus at about 7:00 on Wednesday morning led by one Mr Oladipo Babatunde.
The team sealed the Senate Chamber and the administrative building before proceeding to seal the main gate, leaving the pedestrian gate unlocked.
Speaking with journalists, Babatunde revealed that the institution owed the state government about N1.8 billion and they had no choice than to seal after the management of OAU refused to meet up with the deadline issued to them.
According to him, the money owed by the Institution is outstanding unremitted PAYE withholding taxes and developments levy which had become due and payable since year 2015 and 2016.
Reacting, the school management said it would soon resolve the issue with the state government.
