IGR: KWSG Directs Tertiary Institutions to Open Single Treasury Accounts in Pilot Scheme
The State Governor, Alhaji Abdulfatah Ahmed, who gave the directive during a meeting with heads of tertiary institutions and banks operating in the state, said the directive is to enable the government get a clear picture of the institutions' finances as a prelude to the debut of the newly established Kwara State Internal Revenue Service (KSIRS), which is the sole body responsible for revenue collection and management in the state.
Alhaji Ahmed said the new directive also bars the institutions from receiving fees and other revenues in cash or maintaining any other bank accounst other than those approved by the state Accountant-General. According to him the move was designed to ensure efficiency in revenue collection and disbursement. The Governor assured that the institutions will continue to received budgeted funds from the state government as due and stressed that the government's only desire was to ensure efficiency in revenue generation and management.
The state governor identified enhanced Internally generated revenue as the only way the state can survive the current economic crises in the country, adding that even if the Federal Government stops crude oil theft, Federal allocations are unlikely to return to previous levels as the sustained drop in global oil prices is likely to continue.
Continuing, he said the heads of tertiary institutions in the state have an opportunity to demonstrate their managerial skills as they migrate from inefficiency in revenue generation to levels of sufficiency, adding that all ministries, departments and agencies are also barred from opening bank accounts or obtaining bank loans without authorization from the Office of the Accountant General.
Governor Ahmed called on banks to key into the government's new revenue drive and avoid any actions capable of contravening the new revenue law as the government will not hesitate to review its relationship with any commercial bank that attempts to sabotage the law.
Cloud Tag: What's trending
Click on a word/phrase to read more about it.
John Mayokun Dada Aminu Ado Bayero General Tunde Idiagbon International Airport Ilorin Senate President Sheikh Ariyibi Elesie Of Esie Tunde Idiagbon Road Khairat Gwadabe Shehu Jimoh Ajidagba Lanre Aremu REO CAKES Trade Lenda SME Fair Academic Staff Union Of Universities Kaosarah Adeyi Afonja Descendants Union Elekoyangan Amina El-Imam Ayinde Oyepitan Ibrahim Oniye Garuba Alikinla Shittu Musa Yeketi Hijab Yoonus Lawal Bilikisu Gambari Oba Of Jebba Garba Idris Ajia Ilesha-Baruba Michael Nzekwe Ilorin Innovation Hub Congress For National Consensus Orisa Bridge Muftau Akanbi Oke Sulyman Abdulkareem Maigidasanma Kayode Issa Idris Garba Sheu Ndanusa Usman Folaranmi Aro Amusa Bello Ubandoma Umar Ahmed Gunu Jimoh Olusola Imam Aminat Ahmed Kaiama VADA Saad Omo\'ya Offa Imodoye Writer’s Enclave Olaitan Adefila Aisha Ahman-Pategi Abdulsalam A. Yusuf Earlyon Technologies Unicontinental Construction Company Bank Of Industry Hamidu Olowo Sidikat Akaje Odolaye Aremu Amasa Okin Biscuits Saduki Lafiagi Michael Ologundea Osinbajo Folorunsho Erubu General Hospital, Ilorin M.Y. Abdulrahaman Tinubu Legacy Forum Yunus Oniboki Donatus Ejidike Kwara Teaching Service Commission Coalition Of Kwara North Groups Isapa Tunji Folami Shehu Alimi Foundation For Peace And Development Universal Basic Education Commission Barakat Community Secondary School Twitter