Posted by Abia State, according to Governor Alex Otti, would switch to a treasury single account by September of this year.
On Thursday, he made the announcement in a tweet from his verified account.
Otti stated that the project will increase transparency and efficiency by consolidating all payments and revenues for the state.
Otti urged stakeholders in the state to adopt the new system because “it is in the best interest of Abia and its people.” The new system, he added, will reduce the possibility of fraud, simplify tax payments, create jobs, and entice investors.
He penned, “Convert to a Treasury Single Account.
The Abia State Treasury will be consolidated into a single account known as TSA by September 1, 2023. This change will increase openness and efficiency by consolidating all state revenues and expenditures. I recently reminded the state’s transportation unions and business elite of the advantages of our new digital tax system during a town hall meeting. This method will prevent fraud, simplify tax payments, give power to the people, boost the economy, create jobs, and interest potential financiers. Knowing that this change is for the betterment of Abia State and its people, I urge all parties involved to accept it.