ENUGU State Government says
it has saved N1 billion in a year
due to the deployment of Treasury
Single Account, TSA, in its
financial management.
The Commissioner for Finance
and Economic Development, Mrs.
Eucharia Uche-Offor, disclosed
this to the News Agency of Nigeria,
NAN, on Sunday in Enugu.
She said that the TSA had
tremendously helped the
government in blocking financial
leakages.
“In an effort to block the
leakages, Enugu State started the
use of Treasury Single Account
model in the collection of its
Internally Generated Revenue,
IGR.
This was aimed to strengthen
the pay-direct system that was in
use since 2009.
“This method has helped to
block observed leakages and
hence has brought about increase
in the IGR of the state.
“So, from the deployment of
the TSA, we have saved up to
N1 billion in the last one year
since the inception of Gov. Ifeanyi
Ugwuanyi’s administration.
“Due to the usage of the TSA,
we have really made tremendous savings in the state,’’ she said.
Uche-Offor said that TSA had
helped the state to warehouse
all its revenue receipts as well as
understood the dynamics of cash
inflow.
She said that once the funds were
warehoused, the ministry in the
same vein, made immediate cash
return to the accounts of ministries,
departments and agencies which
required cash for their daily
functions.
“TSA has become a veritable
instrument of cash flow and control
mechanism of the state government,
thus increasing financial discipline in
the government system as a whole.’’
The commissioner said that the
state would soon stop all cases of
multiple taxation.
“The state is working toward
handling cases of multiple taxes
through inter-agency collaboration
and harmonisation of taxes payable
by all concerned. Work on this is still
in progress.’’
The commissioner said that the
state government had been able
to meet its obligations, especially
payment of workers’ salary due
to its uncompromising financial
management and expansion of its
revenue base.


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