Gombe State Government Has Discovered N1.48b Hidden In 860 Dormant Accounts

On Thursday, November 12, Inuwa Yahaya disclosed that the State Government has discovered N1.48b hidden in 860 dormant accounts.

Yahaya, at the State House while declaring open a one-day workshop on Treasury Single Account, TSA, tagged: “Cash Management Strategy” stated that the state government uncovered a total of 2,292 accounts linked to the previous administration. 

Still speaking, The Governor said that since he signed implementation of the TSA, there has been a lot of successes recorded as a total of 2, 292 accounts linked to the state government were captured in addition to the 265 hidden accounts discovered.

He said:

“586 dormant accounts were closed after generating their annual account statements for proper reconciliation and documentation. This shows the enormity of the financial indiscipline and opacity inherited by our administration. You can imagine 2, 292 accounts being operated in one government and you expect proper accountability and records, we must do something to safeguard ourselves.”

According to the Governor, in other to promote efficient management of resources in the State the Administration has approved the  Cash Management Strategy (CMS) which is aimed at enhancing budget performance by preventing costly budget overruns that negatively affect the implementation of the state’s Medium-Term Expenditure Framework (MTEF).

“It is worthy of note that on our coming to office on May 2019, we met the State finances in a delicate situation, characterized by high debt burden, wastefulness and lack of accountability,”

He said in view of the scarce resources and the need to implement projects that would improve the living standard of the people, the implementation of the TSA was being leveraged to achieve results.

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“There is no doubt that the COVID-19 pandemic has led to devastating economic consequences globally. To navigate this, states must develop innovative ways of saving cost, improving efficiencies and eliminating wastage. This requires the highest level of competence and professionalism from our accounting officers,”

“There will be no development without the requisite resources to help implement of our development agenda. That is why our administration is focused on mobilizing resources to finance the execution of projects and programs that will impact positively on the lives of our people,” 

“The success of the TSA depends on your ability and willingness to buy in to the new policy”

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