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NEWS

Oyo Clamps Down on Advertising Practitioners, Third Party Agents, Laments Over N650Million Debt

April 25, 2024 • 2 min read

April 25, 2024

The Director-General of Oyo State Signage and Advertising Agency (OYSAA), Oludolapo Eso-Ajanaku, said this on Wednesday, after leading an enforcement exercise within the Ibadan metropolis, according to a statement signed by Prince Dotun Oyelade, Commissioner for Information, on Wednesday.

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

The Director-General of OYSAA, Mr. Oludolapo Eso-Ajanaku said this on Wednesday, after leading an enforcement exercise within the Ibadan metropolis, according to a statement signed by Prince Dotun Oyelade, Commissioner for Information, on Wednesday.

Eso-Ajanaku stated that the state government was being owed over six hundred and fifty million naira (N650 million) in revenue default by the advertising practitioners over the period in view.

Oludolapo said the decisive action was as a result of an extensive debt profile that had 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 OYSAA DG 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 non-compliance had reached a point where it jeopardised the expansion of Internally Generated Revenue (IGR) of the state.

Oludolapo, therefore, urged all third party practitioners within the state to promptly pay their debts to avoid potential disruptions to their operations.

According to him, the agency reserved the right to approve, terminate, or revoke its engagement with any individual or organisation at any point in time if they defaulted in their roles and obligations to it.