A High Court in Ilorin has ordered the University of Ilorin to settle its outstanding tax liability of N970m to the Kwara State Internal Revenue Service (KWIIRS).
The presiding Judge, Hon. Justice Bayo Yusuf, gave this ruling at the Kwara State High Court.
According to him, the application for stay of execution by the Applicant (University of Ilorin) on the judgment earlier given in favour of Claimant (KWIRS) is not valid and is now subsequently dismissed by the Court.
Reading his ruling, Hon Justice Yusuf ordered that University of Ilorin being the Judgment debtor pay N100m on or before 31 May 2016 and N50m monthly until the N970m is liquidated accordingly. He added that interest accrued on the liabilities should be paid as well.
This Judgment is seen as a major victory for the Kwara State Internal Revenue Service and the beginning of recovery of all outstanding liabilities owed the Kwara State Government.
Reacting to the judgement in a statement, the Executive Chairman of KWIRS, Dr. Muritala Awodun, expressed delight at the judgement and stated that the Service, through the Legal and Enforcement department, and in collaboration with the Judiciary and Law Enforcement Agencies, will ensure that all revenues due to the state is recovered and paid into government coffers. He advised corporate bodies and individuals with outstanding liabilities to comply immediately to save them from embarrassment.
It will be recalled that the Kwara State Government recently reformed the state revenue system and tasked the new agency, KWIRS, with a monthly target of N5b