Editorial: Imo TSA: A move in the right direction.

The airwaves last week carried the position of Imo state government to adopted a TSA, otherwise known as Treasury Single Account. Looking at the colossal loss of funds and the impunity that characterized the last government of Rochas Okorocha in Imo state, the decision came at the right and proper time.

Imo State Governor's readiness to sign an Executive Order which will allow for the use of Treasury Single Account by the State Government,is a commendable development, which has shown that the government of the day in Imo, wants to be accountable to the people of the state.

It leaves no one in doubt, where the government of Emeka Ihedioha is headed to, towards the rebuilding of the state.

The governor directly said it was imperative following the discovery of over 250 accounts in various banks operated by the Rochas Okorocha led government, a situation that is no longer accepted in all ramifications.

It is our thinking and believe that the TSA will help to eliminate leakages in the revenue accruing to the state government, both from the federal and state government, and also pray that the government will adhere strictly to it.

With the TSA in place, we advocate that government takes the pain to streamline areas of interest in revenue generation and collection and actually handle such by itself, instead of giving it to contractors who in the long run rip the government off, of the supposed funds that would have entered government coffers. As the TSA will sanitise the state’s financial system.

We are also happy that the assistance of a former Director General of the Debt Management Office, Abraham Nwankwo, was sought for a critical look at the financial system, in the state, which will help block all
Loops, that helped for leakages in the past, as this with help stop the tissues of corruption, government accounts has witnessed in the past.