RSG To Reconcile All Bank Accounts To Check Revenue Leakages Says Governor Wike

RSG To Reconcile All Bank Accounts To Check Revenue Leakages Says Governor Wike
Paul Obiajunwo, Port Harcourt
Rivers State Governor, Nyesom Ezenwo Wike has directed banks operating in the  state  to work with state government officials to reconcile all Rivers State Government bank accounts with a view to stopping all revenue leakages.
Governor Wike also announced that the Rivers State Government  will introduce  a new tax policy to ensure the improvement of the  state’s revenue base.
Speaking  while meeting with  bank executives operating  in Rivers State  at the Government House, Port Harcourt on Thursday, the governor further directed the banks to  close all dormant accounts of the state government and deposit the  funds  in approved functional accounts.
“Let all the banks work with our officials to reconcile our accounts  so that we stop revenue  leakages.
“We will close accounts that  are not necessary.  We will only operate  accounts that are necessary  for  the  development  of the state “, he said.
He said that  banks found to  be frustrating the state government’s  efforts to generate  revenue  will be duly sanctioned and their  certificate of occupancy  revoked.
He noted that each Ministry can only operate one account, while the other functional accounts  should be closed.
The governor added that no government  agency should open an account  without the authorisation  of the State Accountant General.
Explaining  the need for a new tax policy in the state, Governor Wike  noted that it is in line with the fact that the country is operating  a Federal System of Government.
Governor Wike enjoined the banks to stop paying other charges, until after the harmonisation  of taxes. He, however, said they  should  still pay the pay as you earn (PAYE).
In his remarks, Acting Chairman of the Rivers State Internal Revenue Service, Mr Alawari Ndu regretted that most banks in the state have made revenue  generation  quite challenging.
Most of the banks at the meeting assured Governor Wike  that they will cooperate  with the Rivers State Government  to improve  its revenue generation capacity.