In a bid to consolidate on the new fiscal policy of Gov. Emeka Ihedioha, the Auditor -General for local government, Imo state, Barr Osita Nwosu, through his office, has successfully concluded a two-day workshop for local government personnel on financial Autonomy for local government in Owerri recently.
During the workshop, the Auditor General outlined the Treasury Single Account (TSA), recently introduced by Ihedioha led government as germane for effective public financial management in all transactions even as it makes for effective budget implementation.
Barr. Nwosu also assured that TSA as stringent financial control measure “Improves operational control during budget presentation and implementation since it has full information about cash resource of the state”
Speaking further, he said: “implementation of the treasury single account is one of the planks of the Rebuild Imo agenda of the Governor Emeka Ihedioha led government with a view to engendering discipline, accountability and probity in financial management, which is in tandem with international best practices.
“Indeed, the present administration is on course to deliver efficient and effective financial system that would guide in sustainable economic growth and good government which the state has been dreaming about”.
Explaining, he said: “TSA Bank Account are either centralized Bank Accounts which are payment system for all government income and expenditure operated in the addition to the centralized Treasury Single Account”.
For its huge benefits as a fiscal policy, he appealed that all hands must be on deck to rebuild the state by ensuring that fiscal responsibility is enthroned in the public service, saying that it is a sure way towards attaining sustainable development.
He therefore commended Governor Ihedioha for granting financial autonomy to the local government council of the state, an act he described as true attribute of a great leader who means well for the people. He also extolled him for his vision as encapsulated in his policy thrust, which he said portend a bright future for the state.
Meanwhile, one of the participants, Victor Alozie in his contribution described Treasury Single Account as a modern cash management system that enhances government ability to safeguard public fund suitable for good governance and promotes transparency in public service.
Recall that at the inception of office, the present governor of Imo State, Rt. Hon. Emeka Ihedioha had adopted TSA as a policy thrust with a view to plugging loopholes through which government funds are frittered away.