Wike to Buhari: TSA is marred with abuses of revenue

Rivers state governor, Nyesom Wike, has commended President Muhammadu Buhari-led Federal Government on the implementation of Treasury Single Account (TSA) and the Integrated Personnel Payroll System (IPPS).
He, however, bemoaned that the system was marred with abuses in the areas of revenue collection and disclosures.
Speaking on Monday at a 3-day Public Financial Management Retreat organised by the Office of the Accountant General of the Federation for members of the Federal House of Representatives, House Committee on Finance and key stakeholders in the Executive in Port Harcourt, Wike, who was represented by his Deputy, Ipalibo Banigo, also pointed out that the revenue allocation and distribution, as well as budget execution have been abused.
He, therefore, stressed the need to implement necessary reforms in line with global best practices to tackle the challenges of public financial management.
Wike said the call for effective revenue collection, equitable revenue allocation, efficient budgeting and effective budget should be given priority attention.
He also revealed that one of the first things his administration did on assumption of office was to introduce strategic reforms in the state’s public financial management system, to foster greater transparency and accountability.
“Apart from producing more realistic budgets based on pragmatic assessments of available resources, we are now more efficient and result-oriented in the collection, allocation and management of available public resources,” Wike said.