Oyo clamps down on advertising practitioners, third-party agents over N650m revenue default

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.

The Director-General, Oyo State Signage and Advertisement Agency (OYSAA), Oludolapo Eso-Ajanaku, after leading an enforcement exercise within Ibadan metropolis, decried that the Oyo State Government is being owed over N650 million in revenue default from the advertising practitioners in the period in view.

The Commissioner for Information, Prince Dotun Oyelade, in a statement, indicated that Oludolapo Ajanaku said that the decisive action to clamp down on the agencies 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) declared: “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.

Oludolapo Ajanaku, 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.