The Executive Chairman, Edo State Internal Revenue Service (EIRS), Mr. Oladele Bankole-Balogun, has disclosed that the agency has generated N79billion in Internally Generated Revenue (IGR) in nine months.
Bankole-Balogun disclosed this in Benin during a meeting with Ministries, Departments and Agencies, permanent secretaries and directors.
He noted that leakages by MDAs are challenges to sustainable growth and called for an end to it.
‘EIRS has generated N52.6 billion in the first half of 2025, representing a 46 per cent increase over previous periods. The year has not ended and we have generated N79 billion’ he said.
Bankole-Balogun who described revenue as the ‘lifeline of development, noted that Edo must position itself as a frontrunner in implementing the Treasury Single Account (TSA), and align with the Nigerian Tax Reform Acts set to take effect Jan. 1, 2026..
He said the TSA ensures that all government receipts flow through a transparent, centralized account-eliminating cash handling, reducing leakages, and improving accountability.
He said the state must align internal processes, adopt e-receipting and digital reporting, and leverage its informal and digital economy for sustainable growth.
He warned against MDAs operating different accounts in taxes and levies collection, as all IGR funds are to be deposited at the agency’s account in line with the law.
Meanwhile, Mr. Jackson Eribo, Executive Director of MDA Services, listed issues include illegal opening of revenue accounts, cash collections against the state’s cashless policy, and partial remittances as challenges hindering revenue optimisation.
He added that order problems include, fragmentation of systems outside the Edo Revenue Administration System (ERAS), and non-compliance with Tax Clearance Certificate (TCC) requirements.
He described the continued violation of the state’s cashless policy through cash collections and partial remittances as a serious challenge.