Gov. El-Rufa’i orders closure of government’s accounts in commercial bank

The Kaduna State Government on Thursday ordered the closure of all its bank accounts in commercial banks.

A statement by Samuel Aruwan, spokesman of Governor Nasir El-Rufa’i, stated that the directive would come into effect from September 1.

It said El-Rufa’i had conveyed the government’s decision to all its bankers at a meeting with them in Kaduna.

The statement said the government would now run a single account to be domiciled with the Central Bank of Nigeria.

It said that government would adopt the Treasury Single Account, adding that it would later “open specified sub-accounts with the CBN and the commercial banks”.

The statement said: “As part of the process of attaining this goal, all banks that maintain the accounts of the government have been put on notice to close them and remit the balances to the Central Bank of Nigeria which will host the state’s TSA.”

It said during the meeting, also attended by the CBN Branch Controller, the bank officials assured the governor that they would close the accounts within five days of receipt of formal instructions.

The statement, however, said selected revenue-holding accounts will be excluded from the directive.

It said: “The government will publish needed Treasury Circulars and other instructions to give effect to these decisions.”

NAN.