Lagos State Government To Run One Account For All Its Transactions From September - Gov. Ambode

Governor of Lagos State,Akinwunmi Ambode has approved the operation of one account within the state beginning from 1st of September, 2015.

According to an announcement issued by the Permanent Secretary/Accountant General of the Lagos State, Abimbola Umar, the authorities took the choice to deal with the challenges antecedent long-faced with the operation of the multiple account system.

This is a part of efforts to expeditiously improve on the processes of revenue generation and assortment within the state and guarantee correct responsibility and transparency all told Government increased revenues.
Governor Akinwunmi Ambode aforementioned that the operation of a Treasury Single Account (TSA) would aside providing transparency and responsibility also encourage tax payers to request for one account before creating their payments.
“With this development, it is expected that all parastatals, local governments and establishments will commence the operation of the Treasury Single Account on the 1st of Sept. 2015”, Gov. Ambode said.
In addition, all the affected revenue collection banks are mandated to instantly shut all the present multiple revenue accounts domiciled in their banks to provide a clear view  for one revenue accounting pattern in line with the responsibility and Transparency Policy of the present administration.