The Governor of Abia State, Alex Otti has said that the State will transition to a Treasury Single Account, TSA, system on 1 September 2023.
The Governor made the announcement at a town hall meeting with the leaderships of the transport unions and markets in the State, held at the Banquet Hall of the Government House in Umuahia, the Abia State capital on Wednesday.
The TSA entails that from September 1, all monies accruing to the State will be paid into a single account. Likewise, all payments by the State will be made through the same account.
Otti expressed confidence that the transition will centralise all state revenue and payments, enhancing transparency and efficiency.
According to Kazie Uko, the chief press secretary to the Governor, the town hall meeting was to educate as well as enlighten transporters and traders in the State on their obligations as the state adopts a digitalised system of tax payments.
Governor Otti stressed that the whole essence of digitalising the tax regime in the State is to eliminate all forms of sharp practices including fraud, diversion of proceeds and middlemen.
“Now, you can pay from the comfort of your home or office, and get digital receipts on your mobile devices. We can authenticate your receipts through a code, I believe it’s a QR code. We can read your receipts and know whether they’re authentic or not,” the Governor stated.
“This scheme is carefully designed to develop and empower our people. It will lead to employment generation and also give confidence to our people that their payments are getting to the right place.”
The Federal Government sees business owners, and local and foreign investors as critical engines in its focus on achieving higher GDP growth and an appreciable reduction in the unemployment rate through job creation.
The government will, therefore, continue to give requisite stimulus by way of friendly policies to allow businesses to flourish in the country.
President Bola Tinubu wishes to assure Nigerians by whose sacred mandate he is in power, that there will not be further tax raise without robust and wide consultations undertaken within the context of a coherent fiscal policy framework.
We thank you all for your attention.
