The Oyo State Signage and Advertisement Agency (OYSAA) conducted a clampdown on third-party advertising agents and practitioners on Wednesday for non-compliance and failure to remit over N650 million in advertising fees to the state government.
Eso-Ajanaku Oludolapo, the Director-General of OYSAA, disclosed this to journalists after leading an enforcement exercise in the Ibadan metropolis.
He stated, “The state government is owed over N650 million in unpaid advertising fees by these practitioners. Despite our repeated encouragements and opportunities provided by OYSAA for them to settle their debts, the amount owed has continued to grow.”
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Oludolapo emphasized that the government’s patience had worn thin due to the escalating debt profile.
“The current level of non-compliance is unsustainable. This enforcement action aims not only to address the financial discrepancies but also to establish a precedent for accountability and compliance within the state, as the non-compliance jeopardizes the state’s Internally Generated Revenue,” he added.
The Director-General urged all advertising practitioners in the state to settle their outstanding debts to avoid potential disruptions to their operations.
He further noted that the agency reserves the right to approve, terminate, or revoke its engagement with any individual or organization that fails to meet its obligations.
