BREAKING NEWS, Business
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KADUNA State has traced and uncovered N4 billion of government funds stashed in 23 commercial banks. Governor Nasir el-Rufai of Kaduna State Governor, who disclosed this on Saturday, September 5, said that money was lodged in 470 different accounts and that the adoption of the Single Treasury Account, STA, helped the state to trace funds.
The governor said that the Peoples Democratic Party, PDP, administration had been operating the accounts in different banks over the years with various names. He said without the adoption of the STA system, nobody would have traced and discovered the accounts or recovered the state money.
Speaking through Barnabbas Bala, his deputy, at the third town hall meeting at Kafanchan, Kaura Local government of the state, el-Rufai said the STA had been a tremendous help to his administration.
The El-Rufai administration, in early August this year, adopted the STA system and directed all commercial banks with the state funds to remit them to the Central Bank of Nigeria.
According to the governor, the STA accounting system, which had been in operation since September 1, would ensure transparency, probity and accountability in governance.
— Sep 7, 2015 @ 12:30 GMT
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