Apparently worried by the type of financial system he met on ground after taking over mantle of office on May 29, 2019, Imo State Government, Emeka Ihedioha has moved to block all loopholes in the state accounting system.
Ihedioha on Wednesday signed an Executive Order to bring into force the use of the Treasury Single Account TSA by the State Government.
The governor said the signing of the Executive Order had become paramount because the government, before now, was operating over 250 accounts scattered across various banks.
The TSA is a system that pools all the government’s resources into a single account for better accountability.
Ihedioha said his discovery on assumption of office was that there were leakages in the revenue accruing to the state government and this was largely because of the numerous accounts being used for collection.
He said this accounted for why he decided to sanitize the state’s financial system.
He said this drove him to seek the help of a former Director General of the Debt Management Office, Abraham Nwankwo, for a critical look at the financial system, adding: “It is not an insurmountable issue.
“We discovered over 250 revenue accounts”.
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