The Treasury Single Account (TSA) policy of the federal government is to be replicated in Ekiti State, as the state has adopted the system.
The News Agency of Nigeria (NAN) reports that the decision was reached at the end of the state’s weekly Executive Council Meeting in Ado Ekiti to block leakages of government revenues.
Yinka Oyebode, Chief Press Secretary to Governor, Kayode Fayemi, told journalists at the end of the meeting that Cabinet had directed the state Ministry of Finance and Attorney General’s Office to work out modalities for its implementation.
“The TSA is to help block government revenue leakages and help to promote transparency, among others,” he said.
According to Mr Oyebode, Cabinet also approved the state’s participation in the 2018 Sustainable Development Goals (SDG) Conditional Grant Scheme (CGS) under which the state government will pay N250 million counterpart funding to access N500 million.
He said the money would be used to fund interventions in education and health sectors in four of the 16 local government areas of the state, namely Oye, Moba, Ijero and Ekiti South West LGAs.
“Ekiti has not benefitted from the scheme since 2014 owing to the negative attitude of the immediate past administration to the scheme.
“Government is of the opinion that such interventions are necessary for development
“The Kayode Fayemi-led administration is committed to making lives more meaningful for the people of the state,” he said.