Imo: Ihedioha Uncovers 250 Accounts Operated By Okorocha, Signs Executive Order On TSA

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OWERRI (Sundiata Post) – Imo State Governor, Emeka Ihedioha, has signed an Executive Order 005 to bring into force the use of the Treasury Single Account by the State Government.

The announcement was made in Owerri, on Tuesday following the discovery of over 250 accounts in various banks operated by the immediate past Rochas Okorocha-led government.

Ihedioha said his discovery on assumption of office was that there were leakages in the revenue accruing to the state government.

He said this was largely due to numerous accounts being used for collection.

He said this accounted for why he decided to sanitise the state’s financial system.

The governor disclosed that he had sought the assistance of a former Director General of the Debt Management Office, Abraham Nwankwo, for a critical look at the financial system.

“It is not an insurmountable issue, we will block all loopholes for leakages and corruption.

“We discovered over 250 revenue accounts. So I will sign the Executive Order for the TSA to begin immediately”, he stressed.

The governor decried a situation where ministries, departments and agencies of government, operated parallel revenue accounts with the Board of Internal Revenue, contrary to the dictates of the TSA policy, and the existence of a plethora of revenue collection contracts in various revenue segments, which are largely uncoordinated without requisite regulatory measures. 

He announced the prohibition of cash as payment for services rendered by government and its agencies, directing that all such payments be made to designated bank accounts of the state. He also directed that henceforth, “all payments, including deductions from the salaries of civil servants, be remitted at the time of paying salaries to the Treasury Single Account maintained by the Board of Internal Revenue”.

Governor Ihedioha maintained that, “it is the policy of this government as decided by the State Executive Council to consolidate revenue receipts through the operation of the Treasury Single Accounts for all receipts”.

He directed the Imo State Financial Advisory Committee to immediately review 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..

Delivering its report earlier, the chairman of the committee, Dr. Abraham Nwankwo, a former Director General of Debt Management Office (DMO), thanked the governor for the opportunity to serve. “It is with great pleasure that the members of our committee present the interim report regarding the Executive Order 005. We thank you for this rare opportunity to serve this great state”.

Also at the meeting were heads of financial institutions in the state, permanent secretaries, traditional rulers, heads of security agencies and senior government officials.

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