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Kaduna Gov., El-rufa'i Orders Closure Of State's Bank Accounts At Commercial Banks

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Kaduna State Governor, Mr. Nasiru El-rufa'i has ordered the closure of all Kaduna State government bank accounts in commercial banks.

A statement by spokesman of the governor, Mr. Samuel Aruwan, said the directive would come into effect from Sept. 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 that the government would now run a single account to be domiciled with the Central Bank of Nigeria (CBN).

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

“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 that 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 that selected revenue-holding accounts will be excluded from the directive.

“The government will publish needed Treasury Circulars and other instructions to give effect to these decisions,” the statement added.