The adoption of the Single Treasury Account, has saved the Kaduna State Government N4 billion stashed away 470 different accounts in 23 commercial banks with various names by the former Peoples Democratic Party administration in the state.
This was disclosed by Governor Mallam Nasiru El Rufai, who said that but for the adoption of the Single Treasury Account system, nobody would have traced and discovered the accounts or recovered the said money.
El-Rufai, who spoke through his deputy, Barnabbas Bala, stated this at the Third Town Hall Meeting, held in Kafanchan, Kaura Local Government Area of the state.
The El-Rufai administration, in early August this year, announced the adoption of the Single Treasury Account and directed all commercial banks with the state funds to remit such (money) to the Central Bank of Nigeria.
The deputy governor while addressing the people of the zone, said the system had begun to yield the state result as the government was able to trace and discover N4bn.
The amount, he said, was in 470 different account names and banked in 23 commercial banks by the government of the PDP in the state.
He said the STA accounting system, which had been in operation since September 1, was aimed at ensuring transparency and accountability in governance.
He said, “With the system, we have been able to trace and discover the sum of N4bn in different account names in 23 banks. The STA is to ensure that public funds are traceable and for the sake of accountability in the state.”
He also disclosed that despite the autonomy given to local governments in the state by the current administration, some councils in the state were highly indebted.
By Dike Onwuamaeze
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