The Lagos State Governor, Akinwunmi Ambode, has ordered the operation of a single revenue account in the state.
He ordered that all revenue collecting
banks should close all the existing multiple revenue accounts in their
branches to give room for the single revenue accounting system.
A statement by the Permanent
Secretary/Accountant General of the state, Mrs. Abimbola Umar, said the
directive would take effect from September 1, 2015.
Umar explained that the move was to improve on the processes of revenue generation and collection in the state.
She added that the government also wanted to ensure proper accountability and transparency in all its accrued revenues.
Umar
said, “The state government took the decision to address the challenges
previously faced with the operation of the multiple account system.
“Governor Ambode said the operation of a
treasury single account, aside providing transparency and
accountability, would also encourage tax payers to request a single
account before making their payments.”
The statement quoted Ambode as saying
that his decision was in line with the move by the All Progressives
Congress-led Federal Government under President Muhammadu Buhari to
ensure that all government revenue accrued to one consolidated account.
Ambode said, “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 government areas and establishments will
commence the operation of the treasury single account on September 1,
2015.”
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