TSA: Sokoto Uncovers N1.5bn

The Sokoto State
Government says it has uncovered N1.5 billion belonging to it lying idle in 100 dormant accounts in various commercial banks in the country.
The state government attributed the discovery to the implementation of the Treasury Single Account (TSA) system two weeks ago.
The state Commissioner for Finance, Alhaji Saidu Umar, said this in Sokoto while giving an update on the system’s implementation.
In a statement signed by his spokesman, Mr Imam Imam, Gov. Aminu Tambuwal said “government is determined to trace and close down all dormant and inactive accounts operated by it.
“Since the introduction of the TSA, there has been a massive improvement in the reconciliation of public finance figures between the government and commercial banks.
“This has reduced risk of errors in reconciliation processes and enhanced timeliness and quality of the fiscal figures from such accounts’’.