Gombe Discovers N1.48bn from 860 Dormant, Hidden Accounts

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Segun Awofadeji in Gombe

The Gombe State Government yesterday said it had discovered a sum of N1.48 billion from dormant and hidden accounts in the state.

The money was discovered due to strict compliance with the Treasury Single Account (TSA).

The state governor, Alhaji Inuwa Yahaya, explained the decision of his administration to promote sound financial discipline and entrench a culture of accountability and transparency in governance.

The state governor gave this figure yesterday at a one-day workshop on cash management strategy for chief accounting officers and heads of Ministries, Department and Agencies (MDAs)and higher institutions in the state.

At the workshop, the governor said his administration upon assumption of office discovered N1.48 billion from dormant and hidden accounts in the state.

He said: “A sum of N1.48 billion was discovered from 860 accounts that were hitherto dormant or undisclosed. 586 dormant accounts were closed after generating their annual account statements for proper reconciliation and documentation.”

He told participants at the workshop that when he assumed office, his administration met the state finances in a delicate situation characterised by high debt burden, wasteful spending and lack of accountability.

He said: “This was why our administration took a bold and calculated decision towards putting the state on the path of financial prudence and accountability. The introduction and enforcement of TSA is one out of the numerous steps.”

He said in order to ensure the successful implementation of the TSA, his administration set up a committee under the chairmanship of the deputy governor.

The governor explained that this was in addition to the signing of executive order number six to further strengthen the implementation and enforcement of the policy in the state.

He said the TSA “has recorded huge success in Gombe state as hundreds of dormant accounts were closed after generating their annual account statements for proper reconciliation and documentation, which goes to show the enormity of financial indiscipline inherited by this administration.

“It is worthy of note that we met the state finances in a delicate situation, characterized by high debt burden, wastefulness and lack of accountability. Since then, our administration has taken bold and calculated decisions towards putting the state on the path of financial prudence and accountability.

“The introduction and enforcement of TSA is one of them. In order to ensure successful implementation of the TSA, we set up a standing committee under the chairmanship of the deputy governor. I also signed an Executive Order No. 005 of 2020 to further strengthen the implementation and enforcement of the TSA.

“The exercise has no doubt recorded tremendous successes as a total of 2,292 accounts linked to the state government were captured by the NIBSS and additional 265 hidden accounts were discovered.

“The sum of N 1.48 billion was discovered from 860 accounts that were hitherto dormant or undisclosed. 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,” the governor said.