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LASG approves LBIC as revenue collector


Lagos Building Investment Company Plc. (LBIC) has joined the league of financial institutions approved by Lagos State Government to collect its revenues.

The approval, which was contained in a letter issued by the State Treasury Office, showed that the firm is statutorily empowered to collect all forms of government revenues, such as taxes, dues, fines, etc.

Confirming the approval, Managing Director/CEO of LBIC, Folasade Folivi, said the bank, which has just been recapitalised and restructured, was ready to discharge these responsibilities, declaring that LBIC is able to achieve this milestone because its operations are now ICT compliant.

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