Kaduna State Governor, Malam Nasir Ahmad El-Rufai has directed all banks with Kaduna State Government accounts to close them and remit its balances to the Central Bank of Nigeria (CBN).
The governor said the state will now commence implementation of the Treasury Single Account (TSA) framework by September 1, 2015.
According to the Governor in a statement by his Special Assistant on Media and Publicity, Mr. Samuel Aruwan, “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.
Aruwan said, the governor gave the directive at a meeting with officials of all the banks hosting the state government’s many revenue and expenditure accounts.
“The meeting was also attended by the Kaduna State Branch Controller of the CBN. Malam El-Rufai explained that after the establishment of the TSA, the state government will open specified sub-accounts with the CBN and the commercial banks.
“The banks present assured the governor that within five working days of receiving the formal instructions from the state government; they will close the accounts and remit the balances to the TSA.
“While thanking the banks for their continued support, the governor assured them that a future session will be organized to explain to the banks how the new TSA and the sub-accounts will work,” it read.
The statement also disclosed that selected revenue-holding accounts will be excluded from this directive as government will publish needed Treasury Circulars and other instructions to give effect to the decision.
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