Chevron N1 billion Delta tax revenue missing

The alleged disappearance of over N1 billion tax deductions paid by one of the multi-national oil companies, Chevron Nigeria Ltd, through an old generation bank to a new era bank that collects revenue for the government of Delta State has stirred misgivings between the two financial institutions.
Delta State Board of Internal Revenue (DBIR) is striving to trace in which bank’s possession the missing money is.
It was learnt that Chevron mandated her bankers (the old era bank) to transfer the N1 billion to the state government’s coffers through its collecting bank (the new generation institution), but the money which was allegedly paid since December 27, 2012, has not been credited.
The old bank is firmly insisting that the money has been successfully transferred into DBIR’s account with the new one, which, however, insisted that it had not received the fund.
DBIR’s Executive Chairman, Joel-Onowakpo Thomas has confirmed the development, saying: “It is true that the over N1 billion paid by the multi-national oil company is missing between the two banks.