The Kaduna State
Government has announced the closure of all its accounts with commercial banks,
in order to adopt a Single Treasury Account that would be domiciled with the
Central Bank of Nigeria.
According to the statement, the State Governor, Nasir
El-Rufai, gave the directive during a meeting with officials of all the banks
hosting the state government’s revenue and expenditure accounts and CBN
officials.
The statement further explained that the state government
would later open specified sub-accounts with the CBN and other commercial
banks.
While thanking the banks for their continued support, the
Governor assured them that a future session would be organized to explain to
them how the new TSA and the sub-accounts will work.
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