State Treasury Office(STO)

LAGOS STATE TREASURY OFFICE

            BRIEF ON STATE TREASURY OFFICE 

The Lagos State Treasury office is one of the three (3) arms of the   Ministry of Finance. The Office is also known and called the Accountant General’s Office. This Office has been in existence since the establishment of the Ministry of Finance in 1968.

The State Treasury Office is solely responsible for the delivery of financial services of the State Government and the Office is made up of Seven (7) Directorates and Six (6) Units, namely;

i. Treasury Operations Directorate (TO)

ii. Monitoring and Investigation Directorate (M&I)

iii. Financial Information System Directorate (FIS)

iv. Financial Intelligence and Research Directorate (FIR)

v. Central Payroll and Data Validation Directorate (CPDVD)

vi. Finance and Accounts Directorate (F&A)

vii. Administration and Human Resources (A&HR)

viii. Projects’ Financial Management Unit  (PFMU)

ix. Internal Audit Unit

x. Public Affairs Unit 

xi. Procurement Unit 

xii. Information and Communication Technology Unit (ICT)Unit

xiii. Budget and Planning Unit

xiv. Reconciliation Unit

The Directorates and Units in the State Treasury Office perform various functions and activities that enhanced the development of the State and meet up with the aspiration of the past and present administrations on the Millennium Development Goals (MDGs) and the THEMES Agenda of Lagos State.

                          MISSION STATEMENTS

                     To provide world class financial services to the stakeholders through IT driven processes with seasoned professionals working in a conducive environment.       

                           VISION STATEMENTS

         To be the best public sector financial service provider and a citadel for financial professionals. 

  STATUTORY RESPONSIBILITIES OF THE STATE TREASURY OFFICE

The Statutory responsibilities of the State Treasury Office as stated in the Public Finance Management Law 2011 include the following major services amongst others: 

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i. Accounting for all receipts and payments of the State Government.

ii.  Supervising the accounts of the State Ministries, Extra-Ministerial  Departments and Agencies (MDAs);

iii. Maintaining and operating the accounts of the Consolidated Revenue Fund, Capital Development Fund and other Public Funds and providing cash backing for the operations of the State Government;

iv. Collating and preparing statutory Financial Statements of the State Government and any other Statement of Accounts as may be required from time to time;

v. Maintaining and operating the State Government’s Accounts;

vi. Conducting routine and in-depth inspection of the books of accounts of the State’s Ministries, Department and Agencies to ensure compliance with rules, regulations, policy decisions and maintenance of account codes; and

          vii.   Formulating and implementing the accounting policies of the State 

                Government.

                        PERTINENT LAWS RELATING TO THE STATE TREASURY OFFICE

1. The Lagos State Public Finance Management Law, 2011

2. The Lagos State Debt Management Office (Establishment) Law, 2008

3. Lagos State Bonds, Notes and other Securities Issuance Law, 2008

4. Lagos State Appropriation Laws

5. Lagos State Revenue Administration Law, 2005

6. Land Use Charge Law, 2001

7. Lagos State Public Procurement Law, 2011

8. Lagos State Pensions Reform Law, 2007

9. Lagos State Lotteries (Amendment) Law, 2008

10. Lagos State Audit Law, 2011          

                                MANAGEMENT STAFF

1. PS/Accountant-General                           Dr.    AbiodunMuritala

2. Director, CPDVD                                     Mrs.   Tifase, IyaboOlayinka

3. D/Projects’ Financial Management Unit    Mrs. Saidi,  Rashidat Abiola.     4.D/Admin & Human Resources                  Ms.  Shobowale, Adedoyin Sekinat

5. D/ Monitoring and Investigation             Mr.    Mahmud Tajudeen Alao

6. D/ Treasury Operations                       Mrs.   Dina, AmeenatAbisola

7. D /Financial Infor. System                     Mr.    Thomas Folorunso Olatunji

8. D/ Fin. Intelligence & Research             Mr.    Amosu, Viavo Oladipupo

9. D/Finance and Accounts                         Mr.    Kara, OluseunOlumayowa

10. Head, Procurement Unit                        Mrs.   Amusan ToyinTitilayo

11. Head, Public Affairs Unit                       Mrs.   Ajala, JelilatOlawunmi

12. Head, Internal Audit                              Mrs.   Mustafa, Temitayo Folasade

13. Head, Planning Unit                               Mr.    Alao, Akinkunmi Oluwaseyi

14. Head, Reconciliation Unit                       Mr.    Disu, Abidemi Abdu-Kamar

15.  Head, ICT                                               Mrs.   Martins, Oyindamola. O