Read the press statement below...
Two weeks after the formal introduction
of the Treasury Single Accounting (TSA)
system in Sokoto, the state government
said it has uncovered the sum of N1.5b
lying idle in 100 redundant accounts
belonging to it in various commercial
banks in the country.
The state commissioner of finance, Alhaji
Umar Saidu, who stated this in Sokoto
Sunday while giving an update on the
system's implementation, said
government is determined to trace and
close down all dormant and inactive
accounts operated by it.
He said since the introduction of the TSA,
there has been a massive improvement in the
reconciliation of public finance figures
between the government and commercial
banks. This, according to him, has reduced
risk of errors in reconciliation processes and
has enhanced timeliness and quality of the
fiscal figures from such accounts.
The commissioner said the introduction of the
TSA has now enabled government to regularly
monitor public cash balances while at the
same time ensuring higher quality cash
analysis from all accounts hitherto operated
by the state government and its agencies.
He added that more analysis are being
undertaken efficiently and at regular intervals.
He said the full benefit of the new accounting
system would be felt when the implementation
of the 2016 budget starts. The document is
currently undergoing legislative action with
state House of Assembly.
Meanwhile, Sokoto Governor, Aminu Waziri
Tambuwal, Sunday approved the posting and
redeployment of new permanent secretaries
and directors-general in the state civil service.
A statement issued by his spokesman, Malam
Imam Imam, showed that 23 Permanent
Secretaries were redeployed while 11 DGs
have been sent to various departments and
agencies in the state.
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