The Kaduna State Governor, Mallam Nasir El-Rufai, has ordered that from September 1, 2015 the state will maintain Treasury Single Account, thereby closing all banks with erstwhile severally accounts.
In a statement signed by his media aide, Samuel Aruwan, the governor explained that the action was imperative for repositioning the state
Aruwan also noted that El-rufai gave the directives at a meeting with officials of all the banks hosting the state government’s revenue and expenditure accounts.
He said the meeting was also attended by the Kaduna State Branch Controller of the CBN.
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’ officials 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 session will be organized to explain to the banks how the new TSA and the sub-accounts will work.
The statement also disclosed that selected revenue-holding accounts will be excluded from this directive.
The government will publish needed Treasury Circulars and other instructions to give effect to these decisions.
