Revenue Generation: Osun Targets 3b A Month – Finance Commissioner….. Meets with revenue collection banks

Date Posted: November 28, 2019 at 3:11 pm

Kingsley Omoyeni

Commissioner for Finance in Osun, Mr Bola Oyebami says the target of the state is to be able generate at least 3billion naira per month to enable government deliver on its campaign promises to the people of the state.

This is just as the Commissioner directed all partner banks of the state government in revenue generation to fully comply with the Treasury Single Account policy of the state in an effort to block all leakages and further boost the revenue of the state.

The Commissioner stated this during a meeting with partner banks and other financial institutions on their business relationships with the state government so as maintain a steady growth in the state’s IGR.

Mr Oyebamiji who described the banks working with the state government on revenue collection as the first level of marketing for the state added that the banks should be ready to put themselves in position where they will add value to the state for the benefit of all.

The financial expert said any of the bank working with the state government on revenue collection who fails to comply with the TSA policy of the State Government will no longer be regarded as a partner.

According to the Commissioner, “this is the time we need the cooperation of all our revenue collection banks. We just must improve and boost the revenue of this state to at least 3billiin every month. This is the only way government can deliver on its promises to the people of the state.

“we need to make our relationship mutually beneficial, you should strive to add value to the state and in the long run it will be beneficial to you when the state grows economically.

“you should realise that it is very important for all banks to comply fully with the TSA policy, it is the most honourable thing to do or else you will no longer be seen as a partner in the quest to boost the revenue of the state.

“Henceforth, a target will be set for all our revenue collection banks, and if those targets are met, we will compensate you with incensives to further encourage you”. The Commissioner stated.

Also speaking at the meeting, the state Accountant General, Mr Sunday Igbaroola urged all the banks to ensure that they close every other accounts outside the TSA account so that all funds can be strictly monitored and accounted for.

“we want a situation whereby we can be able to view all accounts belonging to the state government at a glance. Thus will aid transperency and accountability”. Mr Igbaroola stressed.

In his own remark, Chairman of the Osun Internal Revenue Service(OIRS), Mr Gbite Ademikanra charged the banks to work with the internal revenue service so that the state can get to the level which it ought to be in terms of revenue generation.

“we must be realistic and deliver on what we ought to deliver at the right time, we can’t continue to do things the old way and expect a different result, we must boost the revenue of this state and we can only do it together when we are transparent and prudent in our dealings”. The OIRS boss stressed.

Others present at the meeting include: the Special Assistant to the Governor on Finance, Dr Wale Tijani, Technical Assistant to the Governor on TSA, Mr Adetona Adefokun among others.

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