TSA: Osun Launches Bank Accounts Monitoring System For Financial Transactions

….Governor Oyetola calls for full compliance

As part of efforts to further sanitize the state’s financial sector, Governor of Osun, Mr Adegboyega Oyetola has ordered the deployment and immediate commencement of the Bank Account Monitoring System (BAMS) for the day-to-day financial transactions of all State-owned Tertiary Institutions.

This is coming on the heels of the directive of the governor to all Ministries, Departments, Agencies (MDAs) and Local Government Councils in the State to fully mainstream their various accounts into the Treasury Single Account and adhere strictly with the TSA policy of the State Government.

This is contained in a statement signed by the Supervisor for Finance, Mr Bola Oyebamiji and made available to newsmen in Osogbo through the information officer, Mr Kingsley Omoyeni.

According to the statement, the move is to help the state be in tune with global best practices in financial and treasury management of which the Treasury Single Account(TSA) policy of the Federal Government Is a major component.

The reform will also enhance effective transparent and accountable revenue Management (among others) in accordance with the Strategic Public Sector Transformation Initiatives of the current Federal Government as enshrined under section 120 of the 1999 Constitution of the Federal Republic of Nigeria (as amended).

The statement reads in parts, “Having met with different Stakeholders at different fora regarding effective implementation of the TSA Policy, I wish to inform all and sundry that Mr Governor has also approved the final deployment, institutionalisation and immediate commencement of the usage of the Bank Account Monitoring System (BAMS) for day-to-day financial transactions across State-owned Tertiary Institutions in Osun, with particular reference to each institution’s peculiarities.

“Consequently, all Ministries, Departments, Agencies (MDAs) and Local Government Councils of the State Government had been directed to mainstream their various accounts into the TSA and adhere strictly with the TSA policy of the State Government.

“All Accounting Officers, Heads of Non-Ministerial Agencies, Parastatals, Commissions, Local Government Councils and Heads of Tertiary Institutions in the State, are hereby kindly requested to key-in to this Policy, ensure full implementation of TSA”.

The Technical Assistant to the Governor on TSA, Mr Adetona Adefokun had earlier embarked on series of training and sensitisation workshops for account officers in all state owned tertiary institutions as well that of the MDAs and local government councils in preparation for the take off.