Akwa Ibom government has instructed all Ministries, Departments and Agencies in the state to ensure full compliance with the state government treasury single account insisting that it was ready to do whatever is necessary to ensure that the procedure is made to work.
The State Finance Commissioner, Mr. Akan Okon who made the call when he presented a paper at the International Management and Finance Institute, IMFI, in Uyo, yesterday said that it has become an indispensable mechanism which government has deployed to establish centralized control over its revenue.
The commissioner described the Treasury single account as a public accounting system under which all government revenue, receipts and income are collected into one account domiciled with CBN.
“All revenue-collecting Ministries, Departments and Agencies are to remit their revenue accruals into this single account through their individual commercial banks which must be completely zerorized at the end of every banking day.” He said.
Okon enumerated the enormous benefits of TSA to include accountability and transparency of all government revenue, blockage of leakages and diversion of funds, efficiency in cash management, proper monitoring of receipts and expenditure etc, calling for collaborative efforts to ensure its success in the State.
The Commissioner lauded the proprietor of IMFI for sustaining the tempo of quality education in the institution over the years, charging the students to be focused and hardworking in their educational pursuits so as to actualize their lives’ goals and objectives.
Nigerian Pilot reports that the state government had introduced the government single revenue account as a check to leakages and misappropriation by officials.


Ad:See How you can turn $500 into $10,000 Click HERE For Details.
SHARE