Gombe State Governor, Inuwa Yahaya said his government has found N1.48 billion covered up in 860 undisclosed and dormant bank accounts...
Gombe State Governor, Inuwa Yahaya said his government has found N1.48 billion covered up in 860 undisclosed and dormant bank accounts.
Yahaya, who revealed this on Thursday, November 12, at the Government House while pronouncing open a one-day workshop on Treasury Single Account, TSA, labeled: "Cash Management Strategy" said the state government uncovered a sum of 2,292 bank accounts connected to the previous government.
The workshop was coordinated for bookkeeping and paying officials of Ministries, Departments and Agencies (MDAs) just as CEOs of establishments of higher learnings in the state.
The Governor said since he marked execution of the TSA, a great deal of victories had been recorded as a sum of 2, 292 records connected to the state government were caught notwithstanding the 265 shrouded accounts found.
"586 dormant accounts were closed after generating their annual account statements for proper reconciliation and documentation. This shows the enormity of the financial indiscipline and opacity inherited by our administration. You can imagine 2, 292 accounts being operated in one government and you expect proper accountability and records, we must do something to safeguard ourselves." he said.
Yahaya noticed that to cultivate productive administration of assets in the express the organization has affirmed the Cash Management Strategy (CMS) which is pointed toward improving spending execution by forestalling exorbitant spending invades that adversely influence the usage of the state's Medium-Term Expenditure Framework (MTEF).
He said that the presentation and authorization of the TSA was one of the means taken by the organization to rescue the budgetary inefficiency in the state.
"It is worthy of note that on our coming to office on May 2019, we met the State finances in a delicate situation, characterized by high debt burden, wastefulness and lack of accountability," the Governor noted.
He said taking into account the scant assets and the need to actualize ventures that would improve the expectation for everyday comforts of the individuals, the usage of the TSA was being utilized to accomplish results.
"There is no doubt that the COVID-19 pandemic has led to devastating economic consequences globally. To navigate this, states must develop innovative ways of saving cost, improving efficiencies and eliminating wastage. This requires the highest level of competence and professionalism from our accounting officers," the Governor expressed.
"There will be no development without the requisite resources to help implement of our development agenda. That is why our administration is focused on mobilizing resources to finance the execution of projects and programs that will impact positively on the lives of our people,"
Yahaya clarified that the workshop was intended to update applicable partners regarding the new TSA strategy in the state and asked the members to be mindful and gain the vital bits of knowledge and experience to make the new approach a triumph.
“The success of the TSA depends on your ability and willingness to buy in to the new policy”. he added.
