Check Leakages, Fraud, Wike Tasks Banks

Worried by revenue shortfalls, in the state Rivers State Governor,Chief Nyesom Wike, has directed banks operating in the  state  to work with state government officials to reconcile all government bank accounts with a view to stopping all revenue leakages and frauds .
The governor further directed the banks to  close all dormant accounts of the state government and deposit the  funds  in approved functional accounts.
Chief Wike in a meeting with Banks Heads and Executives in Government House in Port Harcourt yesterday announced that government will introduce  a new tax policy to ensure the improvement of the  state’s revenue base.
“Let all the banks work with our officials to reconcile our accounts  so that we stop revenue  leakages.
“We will close accounts that  are not necessary.  We will only operate  accounts that are necessary  for  the  development  of the state “, he said.
He said that banks found to be frustrating the state government’s  efforts to generate  revenue  will be duly sanctioned and their  certificate of occupancy  revoked.
Chief  Wike noted that each Ministry can only operate one account, while the other functional accounts should be closed.
The governor added that no government agency should open an account without the authorisation  of the State Accountant General.
Explaining  the need for a new tax policy in the state, Governor Wike  noted that it is in line with the fact that the country is operating  a Federal System of Government.
Chief Wike enjoined the banks to stop paying other charges, until after the harmonisation  of taxes. He, however, said they should  still pay the pay as you earn (PAYE).
In his remarks, Acting Chairman of the Rivers State Internal Revenue Service, Mr Alawari Ndu regretted that most banks in the state have made revenue  generation quite challenging.