Rivers govt floats Treasury Single Account

.To boost revenue generation
By Valentine Amanze

Rivers State government has concluded plans to commence the operation of Treasury Single Account to boost its revenue base.
The state Governor, Nyesom Ezenwo Wike, disclosed this in Port Harcourt, the Rivers State capital, on Thursday.
He also charged the Rivers Internal Revenue Service (RIRS) to grow the state's Monthly Internally Generated Revenue to N10 billion.
He spoke during the Flag Off of Informal Sector Tax Drive with vehicles donated by Access Bank Limited at the Government House.

He said: "We will initiate the Treasury Single Account to block revenue leakages. I assure that very soon the Treasury Single Account will become operational.
"The Treasury Single Account will be implemented to checkmate what is presently going on. It is not good to have several accounts which lead to unnecessary leakages.
"Our revenue base fluctuates. The Board has been directed to expedite action for the state to hit N10 billion internally generated revenue every month."
Wike explained that the Treasury Single Account would be diligently implemented in the interest of Rivers State. He however restated that his allegiance was to Rivers people who voted him, because he was not sponsored by any group.
He urged the informal sector to support the Rivers State government by paying their taxes as prescribed by the Rivers Internal Revenue Service (RIRS).
"The drive for informal sector tax is key. I believe it will boost our revenue base and we need it", he said.
He thanked Access Bank Limited for supporting the Revenue Drive of the state with the donation of 10 buses.
Chairman of Rivers State Internal Revenue Service (RIRS), Mr. Adoage Norte, said that the flag-off of the informal sector tax drive would ensure that informal sector entrepreneurs pay their taxes.
He lamented that the informal sector was not paying taxes, stressing that the flag-off would unlock the tax potentials of the informal sector.
Norte lauded Access Bank Plc for supporting the informal tax drive of the Rivers State Internal Revenue Service with the donation of 10 buses.
He said that the buses would be used across the state, adding that the service was also in need of branded kiosks for point of sales transactions.
He suggested the operation of Treasury Single Account to optimize revenue generation in the state.

Representative of Managing Director of Access Bank Plc, Mr David Tinad, thanked the Rivers State government for the opportunity to partner on revenue generation.
He assured the Rivers State government that Access Bank Plc would continue to support efforts by the state government to improve its revenue base.

News Category: