Sat. Jun 22nd, 2024

Lagos Signs Memorandum of Understanding With Fintech Platform To Boost IGR.

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The Government of Lagos State through the Ministry of Physical Planning and Urban Development has signed a Memorandum of Understanding with eTransact to curb unregulated development, manage setbacks and open spaces, and improve the beautification of the state’s environment.

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According to the collaborating partners, the Ministry of Physical Planning and Urban Development and eTransact will deploy an integrated technology solution for data collection, management, and digitisation of revenue collection processes from the informal business players operating on setbacks and Incidental Open Spaces in the state in order to regulate them and enhance the state’s Internally Generated Revenue.

A statement by the Lagos Statement government revealed that the MoU was signed by the Commissioner for Physical Planning and Urban Development, Omotayo Bamgbose-Martins, who was represented by Special Adviser to Governor Babajide Sanwo-Olu on e-GIS and Planning Matters, Dr Olajide Babatunde and Permanent Secretary of the ministry, Mr Oluwole Sotire, on behalf of the government and the Managing Director of eTransact, Mr Niyi Toluwalope and Group Head, Legal of eTransact, Ms Eme Godwin, on behalf of the fintech.

Speaking at the signing, Babatunde said the initiative was a public-private partnership that would help to take care of the environment. He added that the MoU was for accountability, and to improve the IGR of Lagos State.

Also Read: Nigeria Fintech Industry Now Worth N9 Billion: Expert Says.

The Managing Director of eTransact, Toluwalope, said, “eTranzact is a premier technology solutions company in Nigeria.

“Today we are partnering with the Lagos State Government and LASPEMA for the enumeration and data management of the occupants of the setbacks and incidental open spaces within the city. We are licensed by the Central Bank of Nigeria to provide this service.”

The General Manager of Lagos State Planning and Environmental Monitoring Authority, Daisi Oso, added that the agency was saddled with addressing challenges that are associated with managing and regulating all activities on setbacks to ensure orderliness while leveraging technology.

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