Recently the governor of Imo State, Rt, Hon. Emeka Ihedioha made an executive order, which was directed towards implementation of the widely applauded program known as the Treasury Single Account (TSA).
The actual purpose of the TSA is to make sure that all funds realized from different sources for the government especially the internal generated revenues are all payed into one account. This is to enable the administration to reduce corruption considerably in the system.
For instance, according to the former director general, Debt Management Office DMO, Dr Abraham Nwankwo, who acted as the chairman Financial Advisory Committee earlier set up by the Governor, in which its report Hon. Ihedioha used to proclaim the executive order, disclosed in a radio program monitored by ambrosymedia.com that multiple accounts opened by various ministries and agencies for collection of revenues encouraged corruption at a very high rate, as unfortunately some of the accounts were opened in private names.
There were reports before the executive order came into effect that over two hundred and fifty various accounts in the different names were opened for the purpose of receiving revenues in Imo, with a particular bank having about one hundred accounts.
This scenario is very unfortunate and should not be tolerated by any government driven by the idea of transparency and accountability. The difficulty of monitoring such a number of accounts is very enormous, as no one can genuinely say where the funds payed into those accounts really ended up.
The immediate past governor of Imo State, Owelle Rochas Okorocha, clearly stated severally that he never believed in due process, meaning he could do anything without following the stipulated way of the law or doing things in the right way. While looking back at what happened during that regime, one would easily understand why many things went wrong under the then governor.
In the executive order 005, 2019 made by governor Ihedioha, he directed the immediate closure of all revenues accounts operated by ministries, departments and agencies in the State, stressing that by doing so will ensure financial probity.
He went further to criticize the existence of plethora of revenue collection contracts in various revenue segments, which are largely uncoordinated without requisite regulatory measures.
Other measures taken by the governor was the ban on collection of cash as payment for services rendered by government and its agencies, directing that all such payments be made to designated bank accounts of the State.
The governor’s recent action is a welcome development and it is an indication that he is well prepared for the job of rebuilding the state, which he has always proclaimed.
For a person to do very well in government, there must be that patriotic zeal in him, which would enable him to take decisions for the progress of his people and this TSA implementation will not only bring about sustainable development, but will also help to check fraud and promote transparency, probity, accountability and good governance.
IF THIS ARTICLE INTERESTS YOU, PLEASE SHARE IT.