Home News Ahmed directs 9 tertiary institutions in Kwara to open single treasury accounts

Ahmed directs 9 tertiary institutions in Kwara to open single treasury accounts


Ilorin  – Gov. Abdulfatah Ahmed of Kwara has directed the nine state-owned tertiary institutions in the state to open single treasury accounts for fees and other payments.
The governor gave the directive on Tuesday in Ilorin during a meeting with heads of tertiary institutions and banks operating in the state.
He said that the measure would serve as a pilot scheme which would be extended to all revenue generating agencies in the state in the long run.
Ahmed directed the institutions to close all other revenue accounts they were maintaining in commercial banks across the state.
He said that the directive was to enable the government get a clear picture of the institutions’ finances.
Ahmed said that the directive also barred the institutions from receiving fees and other revenues in cash or maintaining any other bank accounts other than those approved by the state Accountant-General.
According to him, the measure is designed to ensure efficiency in revenue collection and disbursement.
He said that the institutions would continue to receive budgeted funds from the state government.
The governor said that enhanced internally generated revenue was the only way the state could survive the current economic crisis in the country.
He explained that even if the Federal Government stopped crude oil theft, federal allocations were unlikely to return to previous levels as downward global oil prices would likely continue.
Ahmed also directed that all ministries, departments and agencies were also barred from opening bank accounts or obtaining bank loans without the approval of the accountant general.
He called on banks to key into the government’s new revenue drive and guard against any action capable of contravening the revenue law.
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According to him, the government will not hesitate to review its relationship with any commercial bank that attempts to sabotage the law. (NAN)

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