KW-IRS PAYS COURTESY VISIT TO CBN, ILORIN

The Executive Chairman, Kwara State Internal Revenue Service (KW-IRS), Shade Omoniyi, in the company of some members of the management team, paid a courtesy visit to the Branch Controller, Central Bank of Nigeria (CBN), Ilorin today, 15th March 2023.

The visit, which was to put a face to the office of the Branch Controller, also aimed at discussing the aftermath of the new naira design policy in carrying out the day-to-day tax activities and to seek ways to collaborate with the CBN on e-transactions.

Speaking during the visit,  Shade Omoniyi noted that KW-IRS as an agency of the Kwara State government had before the cashless policy of the federal government, put in place automation of its processes through deployment of Point-Of-Sales and online terminals for revenue collection across the State. However, the technologically driven collection process is being faced with hitches from bandwidth and platforms of banks due to the huge traffic being witnessed during this period of cash crunch.

The KW- IRS boss pointed out the challenges of several failed online transactions, impatience and hostility from taxpayers to get refunds almost immediately for failed transactions, and the pressure at revenue touch points to collect cash during downtime, particularly at the hospitals where essential services are needed to be provided for patients to save lives.

The meeting reviewed drastic low revenue generation within this period due to challenges tied to the new naira policy, and the way forward.

In his response, the Branch Controller, CBN,  Ilorin, Alhaji Lamidi Olawale appreciated the visit and explained that the CBN is aware of the hardships being experienced by the populace, with an assurance of commitment of the institution to provide effective digital systems that make transactions more seamless in the shortest time.

Alhaji Olawale added that cashless operations are the way to go to have a system that works for all,  imploring citizenry, especially Kwarans to exercise patience, as the policy is for the good of the nation and all the challenges would soon be a thing of the past.

The visiting team from KW-IRS led by the Executive Chairman, Shade Omoniyi,  comprised, Director, Accounts & Finance, Omolara Ojulari, Director, Legal & Compliance Shehu Abdullahi, SA to the Executive Chairman, Taofiq Alabi, and Head Corporate Affairs, Titilayomi Ogunwale, was received by the Branch Controller, CBN, Ilorin, Alhaji Lamidi Olawale, and the Acting Branch Support Officer of CBN, Ilorin, Mallam Umar Mohammad.

Signed
Corporate Affairs, KW-IRS
15/03/2023