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Lagos Govt signs MoU with Fintech Company, eTRANZACT on management of Setbacks, open spaces

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Lagos State Government through the Ministry of Physical Planning and Urban Development has signed a Memorandum of Understanding (MoU), with eTranzact, a foremost Fintech Company, to curb unregulated development, manage setbacks and open spaces and improve the beautification of the environment in Lagos State.

The Memorandum of Understanding will strengthen the partnership between Lagos State Planning and Environmental Monitoring Authority (LASPEMA) and eTranzact, to sanitise and regulate activities of setbacks and Incidental Open Spaces (IOS) and ensure physical orderliness in Lagos State.

With its MoU with the Ministry of Physical Planning and Urban Development, eTranzact, will deploy an integrated technology solution for data collection, management, and digitization of revenue collection processes from the informal business players operating on the setbacks and Incidental Open Spaces (IOS) in Lagos State to regulate setbacks/IOS and enhance the State Internally Generated Revenue.

The MoU was signed by the Commissioner for Physical Planning and Urban Development, Engr. 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, who signed on behalf of the government and the Managing Director of eTranzact, Mr. Niyi Toluwalope and Group Head, Legal of eTranzact, Ms. Eme Godwin, who signed for the Fintech company.

Speaking during the signing of the MoU held at the State Secretariat in Alausa, Ikeja, Dr. Babatunde said the initiative was a public-private partnership that would yield a good result hence the need to take care of the environment.

He said the MoU is for accountability and in the interest of the general public in Lagos State, as well as improving the IGR of Lagos State.

Also speaking, the Managing Director of eTransact, Mr. Niyi Toluwalope, said his organization is partnering with Lagos State Government for social development, noting that the project would develop solutions on data, enumeration, reordering setbacks, putting incidental open spaces in an orderly manner, among other benefits.

He 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 (CBN) to provide this service.

“The Lagos State Government has taken this laudable initiative to identify the setbacks, enumerate the people on these setbacks, do the necessary data capture, and manage the entire setback infrastructure in the State so that it is structured; following the proper model for setbacks, improves beautification, improves transparency within the environment and ensures that our critical urban infrastructure is well laid out properly to ensure Lagos functions as a major critical landmark with global recognition.

“We are committed to partnering with the State government to build a beautiful and prosperous Smart City for all. As Nigeria’s Super Fintech Choice, eTranzact is committed to providing payment technology support for all public and private stakeholders.”

Also speaking, the General Manager of LASPEMA, TPL Daisi Oso said the agency was saddled with addressing challenges that were associated with managing and regulating all activities on setbacks so as to ensure orderliness while leveraging technology.

He said the agency is saddled with the deployment of drones for mappings, collaborating with other ministries, departments, and agencies on urban development to improve security and order in the use of land in tandem with the state’s developmental plans to enhance social and political sustainability of businesses.

Oso also disclosed that Governor Babajide Sanwo-Olu in a bid to further align the LASPEMA’s mandate with the incumbent administration’s T.H.E.M.E.S Agenda graciously approved the partnership and the pilot project of some selected areas in Lagos State.

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