Kaduna State Governor, Malam Nasir El-Rufai has directed all commercial banks in possession of state government accounts to close them down and transfer the funds to the Central Bank of Nigeria (CBN) to maintain Treasury Single Account (TSA) framework with effect from September 1st, 2015.
According to a statement by the special assistant to the governor on media and publicity, Samuel Aruwan, said that after the establishment of the TSA, the state government will open specified sub-accounts with the CBN and the commercial banks.
The special adviser quoted governor el-Rufai as saying at a meeting with officials of all the banks hosting the state government’s many revenue and expenditure accounts that Kaduna State Government has decided to commence implementation of the Treasury Single Account (TSA) framework by 1 September 2015.
“As part of the process of attaining this goal, all banks that maintain the accounts of the government have been put on notice to close them and remit the balances to the Central Bank of Nigeria which will host the state’s TSA.”
The banks that were present at the meeting assured the governor that within five working days of receiving the formal instructions from the state government, they would close the accounts and remit the balances to the TSA.
The statement said that selected revenue-holding accounts will be excluded from this directive and that government will publish needed Treasury Circulars and other instructions to give effect to these decisions. [myad]
