Governor Ikpeazu Suspends All Taxes Over Naira Scarcity

The Governor of Abia State, Okezie Ikpeazu has directed the State Board of Internal Revenue to suspend the collection of taxes in all markets across the State, with immediate effect.

This is contained in a statement on Monday by the chief press secretary to the governor, Onyebuchi Ememanka made available to ABN TV.

Governor Ikpeazu who gave this directive while speaking to traders at the Good Morning Market said that this was as a result of the difficulties faced by traders in the aftermath of the Currency Redesign Policy of the Federal Government which has led to the shortage of Naira notes.

According to the Governor, “the Currency Redesign Policy has made life difficult for the average Nigerian but the traders are worst hit. They cannot have access to the little money they have in deposit money banks and some of these businesses still exist at the subsistence level. It will therefore be difficult to expect these traders to also pay taxes to Government under the present circumstances“.

The release added, “The Governor is of the view that this tax break will make life easier for the traders while all citizens wait patiently for the federal government to stabilize the currency situation in the country.”