An electronic application known as ‘Pay Value’ has been designed for Ministries, Departments and Agencies of Government (MDAs), to curb revenue leakages and ensure bills are electronically computed and payments made into appropriate government coffers.
Special Adviser and Director-General, Bureau of Lands and Survey, Mr. Aina Salami said this, while declaring open a 2-day training tagged, "Central Billing and Pay Value System" for staff of the Bureau, organised by the Ministry of Finance in conjunction with Integrated Consultancy Management Accounting Professor Services (ICMA), at Oke-Mosan, Abeokuta.
Represented by the Director, Lands Services, Mr. Fatai Adeboyejo, the Director-General noted that the new method would go a long way at interfacing with the payment system, in order to eradicate multiple usage of a single payment, while keeping full records of every transaction.
The Permanent Secretary, Ministry of Finance, Mr. Hassan Adekunle who was represented by the Director of Administration and Supplies, Mrs. Taiwo Adebiyi, explained that the Pay Value was an electronic billing application designed for one-off demand bills of MDAs.
Adekunle said the new method would solve challenges associated with revenue leakages, by ensuring that all bills were electronically computed and payments made according to the bills as he emphasised that the new Pay Value method was a win-win for government and taxpayers.
In his lecture, the Resource Person, Mr. Adebayo Ishola said the initiative was to introduce the new technology into the system of operations of MDAs, to make it faster, reliable, stress-free, towards better performance, hinting that it was conceptualised to generate more revenue for MDAs, thereby boosting the Internally Generated Revenue (IGR) of the State.
He explained that there were two categories of participants involved in the process, while the initiator assesses the applicants, the Validator approves what had been assessed.
Responding on behalf of other participants, the Director, Land Management in the Bureau, Mr. Adedeji Adewale, representing the Validators, said the introduction of the system, would make service delivery more efficient, while the participant representing the Initiators, Mrs. Doyin Okulalu noted that it would ease their job and enhance productivity.
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