x

Over N650M Debt Profile: Oyo Clamps Down on Advertising Practitioners, Third-party Agents

The Oyo State Signage and Advertisement Agency (OYSAA) has clamped down on third party agents and other advertising practitioners for refusal to pay advert bills to the State government coffers.

The Director-General, Oyo State Signage and Advertisement Agency (OYSAA), Mr. Oludolapo Eso-Ajanaku said this on Wednesday, after leading an enforcement exercise within Ibadan metropolis.

Mr. Oludolapo Eso-Ajanaku stated that the Oyo State government is being owed over Six Hundred and fifty million naira (N650M) in revenue default from these advertising practitioners over the period in view.

Mr. Oludolapo said the decisive action was as a result of an extensive debt profile that has continued to grow, despite repeated encouragement and ample opportunities provided by OYSAA to third–party practitioners to reconcile their accounts and reduce their debt profile.

He stressed further that despite the compassion and generosity shown by the State government over an extended period, it has become obvious that the current level of non-compliance can no longer be sustained.

Hence, the burden of unresolved debts necessitates a shift towards more stringent enforcement protocols moving forward.

The DG (OYSAA) noted that: “this enforcement initiative is not only about addressing the current financial discrepancies but also about setting a precedent for accountability and compliance within the Oyo State”, adding that, the ongoing non-compliance has reached a point where it jeopardizes the expansion of Internally Generated Revenue (IGR) of Oyo State.

Mr. Oludolapo therefore, urged all third-party practitioners within the state to promptly address their debts to avoid potential disruptions to their operations, stressing that, the Agency reserves the right to approve, terminate, or revoke its engagement with any individual or organization at any point in time if they default in their roles and obligations to the Agency.

Hot this week

Police warn officers against meddling in land disputes

By Ogenyi Ogenyi,UyoThe Police has warned its officers against...

Awakan Now NTDA DG, Pledges Tourism of Renewed Hope Agenda

By Joyce Remi-BabayejuThe new Director-General of the...

Today’s football match fixtures

Here’s a clean, well-formatted rewrite of the match fixtures...

Universities Shut as ASUU Rejects FG’s ‘No Work, No Pay’ Directive

The Federal Government has ordered vice chancellors of all...

FG urges review of civil service disciplinary system

The Federal Government has called for a comprehensive review...

Reach Your Potential or Risk Regret, Tuchel Warns Rashford

England manager Thomas Tuchel has urged Marcus Rashford to...

National Assembly Moves to Hold 2027 Elections Earlier

The National Assembly has proposed key amendments to the...

Related Articles

Popular Categories

spot_imgspot_img