Inuwa Yahaya, Gombe State Governor, said that his administration found N1.48 billion hidden in 860 undisclosed and dormant accounts.
Yahaya, who disclosed this at the Government House on Thursday, November 12, while declaring open a one-day workshop on Treasury Single Account, TSA, tagged: “Cash Management Strategy,” said that a total of 2,292 accounts associated with the previous administration were uncovered by the state government.
The workshop was organized for Accounting and Paying Officers of Ministries, Departments and Agencies (MDAs) and Heads of State Higher Education Institutions.
Since the Governor signed the TSA implementation, a lot of achievements have been recorded as a total of 2, 292 state government-related accounts have been captured in addition to the 265 hidden accounts discovered.
“After producing their annual account statements for proper reconciliation and reporting, 586 inactive accounts were closed. This reflects the enormity of our administration’s inherited financial indiscipline and secrecy. “In one government, you can imagine 2, 292 accounts being run and you expect proper oversight and records, we need to do something to protect ourselves,” he said.
Yahaya noted that the administration has approved the Cash Management Strategy (CMS) to boost budget efficiency in order to facilitate effective resource management in the state by avoiding costly budget overruns that adversely affect the implementation of the Medium-Term Expenditure System (MTEF) of the state.
He said that the introduction and enforcement of the TSA was one of the steps taken by the administration to salvage the financial wastefulness in the state.
It is worth remembering that when we came to office in May 2019, in a delicate situation marked by high debt burden, wastefulness and lack of transparency, we met the state finances,” the governor said.”
He said the implementation of the TSA was leveraged to achieve results, given the scarce resources and the need to undertake projects that would improve people’s living standards.
“There is no question that the COVID-19 pandemic has led to catastrophic global economic implications. States need to find creative ways to save money, boost efficiencies and minimize duplication in order to handle This requires our accounting officers to have the highest degree of integrity and expertise,” the governor said.
Without the necessary resources to help execute our development agenda, there will be no development.
That is why our administration focuses on mobilizing capital to fund the implementation of initiatives and services that will have a significant effect on our people’s lives,
Yahaya clarified that the workshop was intended to get relevant stakeholders up to speed on the state’s new TSA policy and encouraged participants to be vigilant and gain the expertise and knowledge needed to make the new policy a success.
“Your ability and willingness to buy into the new strategy depends on the success of the TSA.” And he added.