BOSG Set To Join The Single Treasury Account, TSA, In Its Efforts To Block Revenue Leakages.

Governor Babagana Umara Zulum of  Borno state, has said that government is set to establish a remittal platform for the Treasury Single Account (TSA) in its efforts to block leakages in revenue receipts and deposits.

Announcing this at the weekend in Maiduguri, the Commissioner for Finance and Economic Planning, Alhaji Adamu Lawan, declared this at the breakdown of the 2021 budget appropriation.

Hear him, “Our remittal platform will be launched on March 15, 2021.”

“As from March, all payments and revenue collected by government ministries, departments and agencies (MDAs) will be paid directly into the treasury single account.”

He said that, the measures are aimed at blocking all leakages in revenue collection for the subsequent financial fiscal years and that, besides the adoption of TSA, the budget process will also be digitalized, including the capture of workers’ salaries and gratuities into the Integrated Payroll and Personal Information System (IPPIS) of Borno state.

The internally generated revenue, IGR, projection for 2021 budget was estimated at N16.6bn out of the total recurrent revenue size of N83.3bn.

According to him, “The Borno state government projected funds would accrue from the statutory monthly allocation from the federation account, grants and loans and other financial supports.”

The approved 2021 budget size of N248.3 billion was targeted to improve security, boost agriculture and food production, and discourage dependence on food aids.

Noted that reconstruction of public infrastructure including roads, hospitals and water supply points are ongoing across the state.

He added that, the budget will also address the impacts of the corona virus (COVID-19) pandemic on the people.

The, “People’s Budget of Recovery and Reconstruction, was about N140 billion higher than the 2020 reviewed appropriation bill accented by Governor Babagana Zulum.

The Finance Commissioner warned heads and finance directors of government ministries, departments and agencies (MDAs) against spending outside budgetary allocations.

“You would be punished for violating any of the financial rules and regulations, while implementing the budget,” he warned.

He said such acts were a violation of government procedures and could put an impeachable offence on the neck of the state government.

He said the Ministry of Finance would withhold releases of funds to any ministry, department and agency that continue to indulge in financial recklessness and urged the people to be law abiding by paying their taxes and duties promptly to ensure the Zulum administration redeems its pledges on the dividends of democracy and good governance.