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Ogun Woos Banks, Financial Institutions Towards Achieving 2022 Revenue Target

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Abiodun

The Ogun State Government has urged banks and financial institutions to key into its various innovative policies and financial management reforms, towards broadening its revenue base and ease of doing business.

Commissioner for Finance and Chief Economic Adviser to Governor Dapo Abiodun, Mr. Dapo Okubadejo, while speaking at a meeting with divisional heads and operations managers of banks and other financial institutions in Abeokuta today, described them as critical stakeholders in achieving the government’s 2022 revenue targets.

Okubadejo said that the adoption of digital transformation initiatives, such as full implementation of the treasury management system, digital payment system, billing and payment management system as well as creation of the Ogun State Land Administration and Revenue Management System (OLARMS), among others, have helped the government in blocking leakages and increased in its Internally Generated Revenue (IGR).

According to him, with the buy-in of the innovations by the banks, the state would not only meet but surpass its current revenue targets, adding that “last year, we were able to achieve about N100bn in IGR from N50bn in 2020 as a result of COVID-19.

“When you understand precisely what has been done to achieve that, you will know that it cannot be the efforts of people in government alone. It was through the cooperation and support of people like you.

“And because IGR has a direct bearing on mode of payments from our taxpayers, all we are trying to do, as part of our efforts in creating enabling environment for business is to make it easy for taxpayers to be able to pay their taxes in the comfort of their homes and at their own time,”, he stated.

Mr. Adeniran Oladele of the First Bank, who responded on behalf of the representatives of the banks, commended the government for the various reforms and assured of the collaboration of the banks with the state to achieve its set targets.

 

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