The Oyo State Signage and Advertisement Agency (OYSAA) has intensified its efforts to address non-compliance and revenue default among advertising practitioners operating within the state, News About Nigeria reports.
Mr. Oludolapo Eso-Ajanaku, the Director-General of OYSAA, announced this decision after leading an enforcement exercise in the Ibadan metropolis on Wednesday.
According to Mr. Oludolapo, the Oyo State government is currently owed over six hundred and fifty million naira (N650 million) in revenue by these advertising practitioners.
He said that despite repeated encouragements and opportunities provided by OYSAA for the reconciliation of accounts and reduction of debt profiles, the problem persists.
The Director-General said that decisive action was necessary in response to the growing debt profile.
He said, “The state government is being owed over N650 million in revenue default from these advertising practitioners over the period in view.
“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 mentioned that the state government’s compassion and generosity towards third-party practitioners have not yielded the desired results, prompting the need for stricter enforcement measures.
Mr. Oludolapo said that the enforcement initiative aims not only to address financial discrepancies but also to establish a culture of accountability and compliance within Oyo State.
He said it is important to resolve outstanding debts to prevent disruptions to operations and to support the expansion of internally generated revenue (IGR) in the state.
In conclusion, Hon. Oludolapo urged all advertising practitioners in Oyo State to promptly address their debts to avoid potential consequences.
He said that the agency reserves the right to take necessary actions, including termination or revocation of engagement, against defaulting individuals or organisations.
