The Finance and Accounts Department is the guardian of public funds in Lagos Island LG. It ensures that every naira that comes in is properly recorded, and every naira that goes out is used for legitimate, approved, and people‑centred purposes.

Through strict financial discipline and transparent accounting, the Department helps transform public resources into visible development: roads, schools, health centres, environmental services, social programmes, and more.

Head of Unit

MR. OLUGBUYI BABATUNDE JOHN

Position: COUNCIL TREASURER

Designation: DIRECTOR. (FINANCE & ACCT), GL.17

Phone: 08033081110

Second Signatory

MR. AYININUOLA TAIWO ENOCH

Position: SECOND SIGNATORY

Designation: ASST. DIR. (F & A), GL.15

Phone: 08034745323

Core Functions

1. Transparent Revenue Management

• Recording and monitoring all Council revenues including Internally Generated Revenue (IGR)
• Supporting efficient and accountable revenue collection systems
• Ensuring that all revenues are promptly lodged into designated accounts

2. Responsible Expenditure Control

• Processing payments only when they meet all legal, financial, and documentary requirements
• Ensuring that expenditures are within approved budget limits
• Safeguarding public funds from abuse, waste, and irregularities

3. Accurate Accounting and Reporting

• Keeping proper books of accounts in line with public sector standards
• Preparing periodic financial statements, reports, and returns
• Providing accurate financial data to management, auditors, and oversight bodies

4. Budget Execution and Advisory

• Supporting the implementation of the approved budget
• Advising the Executive and departments on financial implications of projects and policies
• Helping prioritise spending in line with revenue realities and development goals