The adoption of the Treasury Single Account (TSA) is yielding dividends, as the Kaduna State Governor Nasir El-Rufai will attest to. Thanks to this accounting novelty, the state has traced and uncovered N4bn stashed in 470 different accounts in 23 commercial banks.
The disclosure was made by Kaduna Deputy Governor, Barnabas Bala, at the Third Town Hall Meeting initiated by the government to interface with the people of Southern Kaduna senatorial district.
It was revealed that the preceding Peoples Democratic Party (PDP) administration in the State had been maintaining these 470 accounts in 23 banks over the years; making accountability mightily difficult.
In early August, the El-Rufai administration announced the adoption of the Single Treasury Account and directed all commercial banks with state funds to remit same to the Central Bank of Nigeria.
“With the system, we have been able to trace and discover the sum of N4bn in different account names in 23 banks. The STA is to ensure that public funds are traceable and for the sake of accountability in the state,” said Deputy Governor Bala.
The TSA has also been adopted by the federal government and the Lagos State Government.
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