Lagos State Commissioner for Finance, Mr. Abayomi Oluyomi, has urged Directors and Heads of Finance and Accounts, as well as government auditors, to strengthen collaboration and move beyond routine financial compliance to improve performance, timeliness, insight and value for money in public resource management.
Oluyomi made the call on Friday at the opening of a two-day retreat organised by the State Treasury Office for Directors and Heads of Finance and Accounts across the Lagos State Government at the Radisson Blu Hotel, Ikeja GRA.
He said compliance remains the foundation of sound public finance management but should ultimately drive better performance. According to him, accurate records, timely reconciliations, proper approvals and adherence to financial regulations are essential to maintaining public confidence and Lagos State’s credibility with investors, rating agencies and development finance institutions.
The Commissioner identified timeliness, insight and value for money as key measures of performance. He urged finance officers to submit monthly reconciliations, quarterly reports and year-end financial statements promptly, while also serving as financial advisers to their respective Ministries, Departments and Agencies (MDAs).
He stressed that savings achieved through improved cash management, procurement and revenue tracking could be redirected to critical development priorities. He also called for closer cooperation among the State Treasury Office, Ministry of Finance, Ministry of Economic Planning and Budget and revenue-generating agencies.
On Artificial Intelligence, Oluyomi said AI could help finance professionals analyse transactions, detect unusual payments, summarise documents and prepare reconciliation narratives. However, he warned officers against blindly relying on AI-generated information, stressing that professional responsibility remains with the officer certifying a financial record. He also cautioned against uploading government financial data to unapproved AI platforms.
The Permanent Secretary, Lagos State Treasury Office and State Accountant-General, Dr. Adetola John, urged participants to see themselves as key contributors to the effectiveness of their MDAs rather than merely processors of financial transactions. He emphasised teamwork, warning officers not to become weak links in the State’s financial management system.
Other officials who reinforced the need for institutional cooperation included the Auditor-General for Local Government, Mr. Obafemi Ogunlana; Permanent Secretary, Office of Internal Audit, Mrs. Monsurat Titilope Alaka; Acting State Auditor-General, Dr. Olufunke Omolara Tayo-Makanjuola; and former Lagos State Accountant-General, Dr. Abiodun Muritala.
The officials stressed that stronger cooperation was necessary to ensure public funds are efficiently managed and translated into tangible outcomes in infrastructure, social services and other areas of development.
The Guest Speaker, Joshua Ademuwagun, also urged participants to build trust, accountability, commitment and mutual support. He noted that individual success within the public finance system depends on the success of the wider team and encouraged officers to leverage their different strengths, set aside differences and work across institutional boundaries.
The retreat therefore focused on strengthening collaboration and shifting Lagos State’s public financial management approach from routine compliance to measurable performance, with greater emphasis on accountability, teamwork and improved service delivery.