Among companies shut down on Tuesday is Obasanjo Farms.
Also affected are banks, MRS oil, Black Horse, Heinemann Educational Books, Lister Flour Mills, University Press Limited, Evans Brother, Brooking House, Group Medical hospital, Butterfield bakery, Chicken Republic and Rasmed publicity.
Some of the affected companies are located at Dugbe, Eleyele, Podo, Challenge, Onireke areas of Ibadan.
The exercise coordinated by the Oyo State Board of Internal Revenue, OYBIR, is being carried out by the combined task force team of the Oyo State Inter-ministerial Enforcement Unit.
Speaking on the exercise, OYBIR Chairman, Mr. Bicci Alli pointed out that the exercise became inevitable because of the failure of the affected companies to comply with the state tax laws after given the opportunities to do so. He appealed to the affected companies to do the needful so as to have their businesses back on track