Monday 21st June 2021

Category: Finance

Gov. Oyetola launches Automated Financial Management Information System (SIFMIS)

The Government of the State of Osun, in its effort at deepening accountability and simplifying its budgetary process, on Friday, launched the State Integrated Financial Management Information System (SIFMIS).

The Governor of the State of Osun, Mr Adegboyega Oyetola, describing the project, said the project is of monumental importance to his administration’s vision and commitment to enthroning financial efficiency, accountability and transparency in the management of the economy of the state for optimum results.

He added that it is the belief of his administration that the best way to fight corruption in the public service is to build an impregnable and efficient financial system, which SIFMIS is built to address.

According to Oyetola: “Our Administration is built on a development agenda whose purpose is to provide adequate, equitable and quality service for the people using the mechanics of accountability and transparency as the drivers of the management of our limited resources.

“In the over two years that we have come into government, this strategy has helped us to cut wastages and plug excesses, and we have used the dividends to provide services in all the sectors, especially in health, infrastructure and education.

“We believe that the best way to achieve sustainable development and economic transformation is to develop a system that will make our bureaucracy efficient and put our financial system on auto pilot. To achieve this end, we went on a search and our quest produced a best practice compliant application, the State Integrated Financial Management Information System.

“We are grateful to the European Union and the World Bank whose support gave birth to the building of State Integrated Financial Management Information System that we are commissioning today.

“The State Integrated Financial Management Information System is a financial application that will enhance our budgetary efficiency. It is a potent weapon for achieving our resolve to rid our system of corruption and unnecessary bottlenecks.

“This application is a catalyst to our development strategy, which is targeted at providing prosperity and better life and services for our people. It will also further instill financial discipline in our bureaucracy and make our State a player in global financial best practices and a model in financial efficiency in the nation.

“For an Administration that has created a road map for economic recovery and transformation through the institution of Economic Summit, the establishment of Investment Promotion Agency, engagement in massive infrastructure development and the expansion of all sectors, the institution of the State Integrated Financial Management Information System to improve financial sanity and efficiency is a necessary requirement to complete the economic cycle.

“With the commissioning of the State Integrated Financial Management Information System today, it is certain that the State is on the path of achieving financial efficiency and economic transformation”, Oyetola stated.

The Commissioner for Finance, Mr Bola Oyebamiji, speaking at the launch, said the launch of SIFMIS marked a turning point in the government’s effort at promoting accountability in public financial management.

“The desire of Governor Adegboyega Oyetola to enthrone an efficient and robust public service has started manifesting. With the State Integrated Financial Management Information System (SIFMIS) being launched today, we are sure that in no distant time, service delivery within our public service in Osun will compete favourably with world standards.

“Osun IFMIS as currently implemented covers: Oracle General Ledger, Oracle Account Payable, Oracle Account Receivables, Oracle Fixed Assets, Oracle Hyperion Planning and Budgeting, Oracle Purchasing, Helpdesk, and Oracle Business Intelligence Report.

“In the next phase of our e-governance programme, we hope to extend the SIFMIS operations to cover the following modules: Electronic Document Management System (EDMS), Sourcing Module for Procurement activities, HR and Payroll, Revenue, Project Monitoring, and any other module as our e-governance activities progresses”, Oyebamiji stated.

Oyebamiji announced that the system was efficiently deployed for operation on 25th February 2021 with no incidence of system failure till the time of reporting.

Commenting on the workability of the system, the Project Manager of SIFMIS, Gabriel Oginni, described the project as a major breakthrough in the e-governance drive of the State of Osun.

“The objective of SIFMIS is to improve efficiency in financial transactions and reporting through effective utilisation of simple but robust automated system.

“Being that every automation has incremental change, this phase has laid a strong infrastructural foundation for e-governance in our dear state, and this can be further expanded and stepped down to local government areas in the State. No doubt, SIFMIS project has put the state at the level of international best practice and on the pact of efficient financial transparency, accountability and accuracy”, Oginni stated.

Read More


The Governor of the State of Osun Mr. Adegboyega Oyetola has been described as a prudent Governor for upholding and strengthing Reforms in Public Financial Management in the State of Osun.The good news was broken by the State Project Coordinator, State and Local Governance Reform SLOGOR Project, Mr Yemi Ijidele while fielding questions on SLOGOR’s achievements from journalists in his office.The Project Coordinator highlighted the achievements of Mr. Governor under European Union and World Bank assisted State and Local Governance Reform (SLOGOR) Project andapplauded the people’s Governor, Mr. Adegboyega Oyetola for ensuring passage of Financial Legislations which among others includes:State Audited Bill, passed into law in 2018 and public Financial management Bill, passed into law in the year 2020.Mr. Ijidele who appreciated the State helmsman for making another achievements on Budget Reform listed: 1. preparation of ten years development plan for the State. 2. Medium Term Expenditure framework (MTEF) and 3. Medium Term Sector Strategy was developed to strengthen transparency and accountability in governance.The Project Coordinator also mentioned that Mr. Governor has demonstrated to be people’s Governor in several instances. In terms of External and Internal Audit, Mr. Governor carries the people of the state along and rendered stewardship through presentations of the Audited Accounts to the representative of the general public notably the CSOs, Trade Unions, Journalists etc. It is noteworthy to mention that the people’s Governor has been promptly submitting the State Audited Accounts to the State Legislature as required by Law.On Public Procurement, Mr. Yemi Ijidele thanked the State Government for establishing Public Procurement Agency (PPA) in the State. He noted that PFM reform championed by SLOGOR Project also supported government to develop Standard Bidding Documents and created E-portal for the Agency.Finally, the Project Coordinator applauded Mr. Governor for embracing automation of the State Public Financial Management System tagged State Integrated Financial Management Information System {SIFMIS}. He noted that SIFMIS will soon be officially commissioned by Mr. Governor and immediately becomes the e-governance platform where all financial transactions of the government will be operated. Olugbenga OniSLOGOR Communication Officer.

Read More

Osun O-YES Cadets Audit; no intention to downsize- says Govt

The State Government of Osun under the leadership of Governor Adegboyega Oyetola, has ordered the audit of the OYES cadets to ascertain their population and veracity of various engagements.

This was disclosed in a statement signed by the Honourable Commissioner for Youth and Sports, Mr. Yemi Lawal, who said that the exercise was embarked upon on Wednesday 18th, March 2020 and it was conducted all over the State but was met with stiff resistance from the few individuals who thought the exercise was to downsize the workforce of the cadets.

Speaking about the audit exercise, the government noted that: “the State Government of Osun under the leadership of our amiable Executive Governor does not intend to downsize the OYES cadet corps but rather audit the program and ensure sustainability for the benefit of citizens of Osun”.

“The exercise when concluded will strengthen the corp as well as improve the programme tremendously.For the sake of emphasis, the audit exercise is not aimed at downsizing the workforce but strengthening it to be more productive”, the statement added.

The statement assured the people of Osun that “as a responsible
Government, the good people of the State of Osun deserve the best and the Government is committed to ensuring this to reposition the State of Osun for a better tomorrow”.

Read More

Full Automation Of Government Transactions/Services – Osun Finance Commissioner

No Going Back On Full Automation Of Government Transactions/Services – Osun Finance Commissioner

Kingsley Omoyeni

Commissioner for Finance, Mr Bola Oyebamiji has said that the ongoing process to fully automate all government financial transactions and services is a step that the present administration will not renege on.

He said for the state to fully block all financial leakages, boost revenue and be ranked among the best economies of the country the automation process of the present government should be taken seriously.

Oyebamiji stated this during a meeting with the technical implementation team of the State Integrated Financial Management Information System(SIFMIS), a customized technology that will improve the state’s financial management system.

The Commissioner who urged officers selected from different MDAs for the SIFMIS programme to show high sense of commitment said the state has no choice but to embrace full automation of her activities so as to completely block all financial leakages.

He said, “Apart from the huge benefit which the SIFMIS programme is bringing to our state interns of improving our financial management system, I want officers selected for this project to see it as a form of skill acquisition which will in the long run be mutually beneficial.

“Automation of all our financial transactions and services is the best way to go right now, all strong economies of the world are on full automation. It brings about transparency and prudence in spending by the government.

“It makes the people who are being governed to have trust and confidence in the government they voted and will in turn improve their payment of taxes and other levies for growth and development. So I urge us all to take full advantage of this SIFMIS project.

“This project when completed will give the government and the people of Osun a globally acceptable platform for open Governance and further boost the accountable style of governance which the Adegboyega Oyetola administration has always strived to achieve”. Oyebamiji stressed.

It will be recalled that the state government of Osun had signed off on the contract to develop a customized State Integrated Financial Management Information System(SIFMIS) for improved transparency in governance.

The SIFMIS technical implementation team include: the Commissioner for Finance, Mr Bola Oyebamiji who is the Chairman, Commissioner for Budget and Economic Planning, Prof. Olalekan Yinusa, Permanent Secretary, Ministry of Finance, Mrs Adebimpe Ogunlumade, Accountant General, Mr Sunday Igbaroola, Chairman, Osun Internal Revenue Service, Mr Gbite Ademikanra, Auditor General(State), Mr Folorunsho Adesina, Auditor General(Local), Mr Emmanuel Kolapo among others.

Read More