Governor Ambode said the operation of a Treasury Single Account (TSA) aside providing transparency and accountability will also encourage tax payers to request for a single account before making their payments.
In addition, all the affected revenue collecting banks have been mandated to immediately close all the existing multiple revenue accounts domiciled in their banks to give room for a single revenue accounting system in line with the Accountability and Transparency Policy of the current administration.
“With this development, it is expected that all parastatals, local governments and establishments will commence the operation of the TSA onSeptember 1, 2015”, the Governor said.
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