Ihedioha adopts TSA for Imo

The Imo State governor, Rt. Hon. Emeka Ihedioha, has received the interim report of the Financial Advisory Committee, and subsequently proclaimed an Executive Order 005,2019 on the Treasury Single Account (TSA) in the state.
The governor addressed cutical stakeholders in the state, including senior government functionaries, permanent secretaries, heads of financial institutions, heads of security agencies, traditional rulers and heads of ministries, department and agencies (MDA).
He ordered the immediate closure of all financial leakages including revenue accounts operated by the ministries, departments and agencies, as such will ensure financial prudence and probity in line with his administration’s policy of financial accountability and transparency.
He also directed that henceforth, ministries, departments and agencies will no longer operate parallel revenue account with the Board of Internal Revenue (BIR).  This, he said, was contrary to the dictates of the TSA policy.
Governor Ihedioha ordered that henceforth, the collection of cash as payment for services rendered by government and its agencies be stopped, and that all payments be made to designated bank accounts of the state.  All deductions from the salaries of the civil servants will also be paid into the TSA account by the Board of Internal Revenue.
He thanked the Imo State Financial Advisory Committee for work well done, and directed that the committee to review immediately all subsisting revenue collection contracts with a view to ensuring that the revenue terms of engagement optimize the contribution of such revenue sources to the state’s finances under the supervision of the office of the Attorney General of the state.
Presenting the report of his committee, the chairman, Dr. Abraham Nwankwo, former Director General of Debt Management Office (DMO) thanked the governor for finding him and members of his committee worthy to serve.
He presented a grim picture of the financial recklessness of the state in the past eight years and hoped that through the rebuilding agenda of the present administration on Imo State, the state would come out stronger.

About the author