Home / News / ACHIEVEMENTS OF THE STATE TREASURY OFFICE IN THE EIGHTH QUARTER OF THE ADMINISTRATION OF HIS EXCELLENCY, THE GOVERNOR OF LAGOS STATE, MR. AKINWUNMI AMBODE

ACHIEVEMENTS OF THE STATE TREASURY OFFICE IN THE EIGHTH QUARTER OF THE ADMINISTRATION OF HIS EXCELLENCY, THE GOVERNOR OF LAGOS STATE, MR. AKINWUNMI AMBODE

The State Treasury Office, in line with its mandate continued providing cash backing and other financial services to all MDAs’ for the implementation of various programmes and projects to boost the State’s Budget performance.

 

During the period under review, the State Treasury Office achieved the following:-

 

1.IMPLEMENTATION OF TREASURY SINGLE ACCOUNT (TSA) AT THE HOSPITALS

 

Phase two of the TSA implementation in the State commenced with the introduction of Point of Payment Terminals at all General Hospitals in the State by the State Treasury Office. This has resulted in the seamless transfer of LASG share of revenue collections through the NIBSS/MEGALEK platform into the TSA. Bills are also being generated for patients via the platform and this has reduced manual intervention and likely leakages in the revenue collection process at the hospitals.

. INTERACTIVE SESSION WITH BANKERS

 

The State Treasury Office organized an interactive meeting with the Bankers on enhancement of revenue generation in Lagos State. The meeting was also aimed at resolving challenges encountered by LASG customers at the banks. As stakeholders, banks were also requested to assist LASG in its revenue drive and bring up innovative ideas in boosting the revenue of the State.

  1. INDUCTION FOR ACCOUNTANTS TRANSFERED FROM HEALTH SERVICE COMMISSION (HSC) AND THE NEWLY EMPLOYED ACCOUNTANTS

The State Treasury Office embarked on induction training of Accounts officers that were transferred from HSC to the Mainstream STO and the newly employed accountants, to educate them on accounting processes of Ministries, Departments and Agencies which are different in some aspects from what is obtainable at the Hospitals.

  1. TECHNICAL MEETING FOR THE 2nd QUARTER 2017

The Second Quarter Technical meeting of Directors /Heads of Accounts was held on Thursday, June 15, 2017 at LASEPA Conference Hall to sharpen the skills and professional competence of the Directors for better service delivery and also to gear up Directors of Accounts to take up finance function because Accounting has gone beyond only Debit and credit.

  1. ON THE JOB TRAINING

 

The State Treasury Office organized a 2 day ‘On the job training’ for Directors of Accounts in the Public Service, with the theme: “EMERGING ISSUES IN GLOBAL ECONOMIES FOR PUBLIC SECTOR ACCOUNTANT”. The training was mounted at the LCCI Training Centre on the 3rd and 4th July 2017. The objective is to keep the Accountants abreast of the development in the Finance and Economic world, at the training session was highly successful.

6.ASCON  VISIT

 

The STO hosted the participants from the Administrative Staff College of Nigeria (ASCON), on their field trip to the State Treasury Office. Their motive was to have a first hand knowledge on the makings of the Lagos State Treasury Office and gain more knowledge on the implementation of International Public Sector Accounting Standards (IPSAS) in Lagos.  A presentation was made by Director of Financial Intelligence and Research, Mr. Olujimi Ige , on the “PREPARATION AND PRESENTATION OF A COMPLETE STATEMENT IN LINE WITH IPSAS 1 and IAS 1 to the participants.

. WORKING VISIT OF ONDO STATE OFFICE OF ACCOUNTANT GENERAL

The STO hosted the delegates from the Office of the Accountant General, Ondo State, on their official visit to the Ministry, the visit was successful in that there was an exchange of ideas and acquisition of new knowledge by the participants.The issue discussed bothered on the preparation of payroll, using the oracle financials.

  1. LAGOS AT 50 PARADE

 

As part of the efforts of the Lagos State Head Of Service to ensure the participation of the MDAs at the Lagos at 50 celebration, a special parade was organized for the various MDAs at the Agege Stadium where STO emerged the winner.

  1. ADMINISTRATION OF OATH OF SECRECY

As part of the Induction programme of the STO and in line with the provisions of the Public Service Rule, Oath of Secrecy was administered for newly inducted staff of  STO on Wednesday, May 10, 2017