The Akwa Ibom House of Assembly has passed a resolution mandating the state government to initiate the establishment of a State Central Revenue Account with effect from 2026 fiscal year.

The resolution was sequel to a motion by the House leader and member representing Nsit Ubium state constituency, Otobong Bob.

The motion, seconded by Udobia Friday (Esit Eket/ Ibeno state constituency), was passed at plenary on Wednesday, urging the state government to design and implement a centralised multi-channel platform.

The resolution added that the central revenue account would integrate all ministries, departments and agencies (MDAs) and local government areas to ensure that all payments owed to government were collected electronically and automatically deposited into the account.

It urged the government to ensure that all MDAs and LGAs are onboarded to the platform within three months of its establishment.

The resolution said the government should do this through the Ministry of Finance and the Ministry of Science and Digital Economy, in collaboration with the Accountant General’s Office and the State Internal Revenue Service.

According to the resolution, this is to facilitate the issuance of invoices, receipts and permits through the platform, thereby reducing informal or manual cash handling.

Earlier in his presentation, Mr Bob recalled that the federal government had proposed the Treasury Single Account (TSA) in 2012 under the administration of Goodluck Jonathan.

The TSA was fully implemented by the late President Muhammadu Buhari’s administration to consolidate revenue from all MDAs into a single account at the Central Bank of Nigeria (CBN).

He reminded the lawmakers that some states in the country, such as Kano, Kaduna, Niger, Lagos, and Oyo, among others, had domesticated and adopted a digital payment platform.

Mr Bob said that the platform would enable MDAs to collect and process payments through a single centralised system, thereby enabling citizens and residents to pay for government-related services, levies, taxes, and other remittances.

He said that, in doing so, they would use channels such as mobile apps, USSD, online payments, etc., to ensure seamless cashless revenue collection.

“Government across countries, such as India, Sri-Lanka, Ghana and even Nigeria (through REMITA), have deployed integrated digital payment platforms that allow citizens to make remittances to government coffers and access government services efficiently.

“The International Monetary Fund (IMF) views Treasury Single Account (TSA) as a crucial tool for public financial management that consolidates government cash resources to reduce borrowing costs, improve cash management and enhance fiscal transparency,” Mr Bob said.

He expressed concern that without the urgent adoption and full implementation of a state central revenue account, the state government risks continued revenue leakage, mismanagement of public funds, and challenges in tracking and controlling financial resources.

Other members, who spoke in favour of the motion, gave their support for the immediate establishment of the central revenue account to promote transparency and accountability.

The speaker, Udeme Otong, directed the clerk of the assembly, Nsikak Abasi Orok, to communicate the resolution of the House to Gov. Umo Eno for action.

(NAN)