In July 2020, Abia State Governor Alex Otti informed Ndi Abia that the state would be transitioning to a Treasury Single Account (TSA) system to centralize all state revenues and payments, and enhance transparency and efficiency starting from September 1, 2023.
The TSA system is designed to improve financial management in Abia State, and to fight fraud and streamline taxes, allowing the state to generate employment and attract investors. The state government has also launched #AbiaPay, a digital tax payment system that is free of agberos and middlemen. This system even allows commercial vehicle operators to get discounts on their tax payments, providing convenience to citizens and business owners.
The TSA system will play a major role in helping Abia State increase its revenue generation and promote fiscal transparency. It will ensure that all payments and revenues are managed through a single, secure account, eliminating multiple accounts and reducing the chances of fraud and embezzlement. The system will also provide better control over government spending, and help to ensure that funds are allocated to the right projects.
The TSA system will also be beneficial to citizens as it will allow them to pay their taxes quickly and securely, and they will be able to access a variety of information about their payments and transactions. This will encourage citizens to pay their taxes on time and in full, helping the state to increase their revenue.
Overall, the implementation of the TSA system in Abia State is a positive step in the right direction. It will help the state to improve the efficiency of its financial management, fight fraud and increase its revenue generation. It will also provide convenience to citizens and business owners, and will help to promote fiscal transparency. This is a win for the people of Abia State.