Ekiti State Government on Thursday approved implementation of Treasury Single Account (TSA) system as part of efforts to block all loopholes of financial resources of the government.

The State Executive Council, which approved the implementation at the executive council meeting, directed the Ministry of Finance and the Attorney General’s Office to work out modalities for implementation of TSA in the state.

Chief Press Secretary to the Governor, Yinka Oyebode, who addressed journalists on the outcome of the meeting, said: “The TSA is to help block government revenue leakages and help to promote transparency.”

Oyebode explained the decision reached was informed on the need to ensure prudent and probity in the management of financial resources of the government.

He added the council also gave approval for the State to participate in the 2018 Sustainable Development Goals (SDG) Conditional Grant Scheme (CGS) under which the state government would pay N250 million counterpart funding to access N500 million.

He disclosed the money would be used to fund interventions in education and health sectors in Oye, Moba, Ijero and Ekiti South West Local Government Area of the state.

Oyebode said: “Ekiti has not benefitted from the scheme since 2014 owing to the negative attitude of the immediate past administration to the scheme.

“Government is of the opinion that such interventions are necessary for development.

“The Dr Kayode Fayemi administration is committed to making lives more meaningful for the people of the state,” he stated.

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