Katsina State Governor, Malam Dikko Radda, has made a significant announcement regarding the implementation of the Treasury Single Account (TSA) in the state. In a circular released on Monday in Katsina, titled ‘Treasury Single Account Direction Notice 2023,’ the governor stated that the implementation would take immediate effect from July 3.
Governor Radda emphasized that this decision was made in accordance with the powers vested in him by Section 5(2) of the 1999 Constitution, as amended. The implementation of the TSA would streamline the financial operations of the state and enhance transparency and accountability in revenue collection and expenditure management.
The circular stated, “Without prejudice to Section 120 of the 1999 Constitution (as amended), all revenues and monies accruing and forming the Consolidated Revenue Fund, including funds from excess crude account, grants, or donations for Katsina State shall be paid into a unified account to be referred to as the TSA. Out of which all expenditure incurred or approved to be incurred shall be defrayed or paid.”
To ensure the smooth transition to the TSA regime, the governor directed the Accountant General of the state to establish the framework within which Ministries, Departments, and Agencies (MDAs) would conduct their bank and cash management. This framework would facilitate the effective management and utilization of funds under the new system.
In addition, Governor Radda issued directives to the Commissioner for Finance, Accountant General, and Auditor General of the state, urging them to ensure strict compliance with the implementation of the TSA. These officials were tasked with overseeing and enforcing the proper adherence to the new financial guidelines.
The introduction of the TSA in Katsina State represents a significant step towards enhancing financial accountability and optimizing revenue management. By consolidating funds into a unified account, the state aims to eliminate financial leakages, prevent revenue mismanagement, and ensure that expenditures are duly authorized and accounted for.
The implementation of the TSA aligns with the state government’s commitment to good governance practices, fiscal responsibility, and prudent financial management. It is expected to bolster the state’s economy, attract investor confidence, and facilitate sustainable development across various sectors.
Governor Radda’s announcement has been met with positive responses, with stakeholders expressing their support for the initiative. As the implementation progresses, the people of Katsina State eagerly anticipate the positive impact the TSA will have on the state’s financial landscape, ultimately fostering economic growth and improved service delivery.
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