The Kwara State Government has directed all state-owned tertiary institutions to open single treasury account for fees and other payments in a pilot exercise that will eventually extend to all revenue generating agencies.

The State Governor, Abdulfatah Ahmed, gave the directive on Tuesday to nine institutions in the state during a meeting with heads of tertiary institutions and banks operating in the state.

He said that the directive would enable the government get a clear picture of the institutions’ finances, as a prelude to the debut of the newly established Kwara State Internal Revenue Service (KSIRS), which is the sole body responsible for revenue collection and management in the state.

The tertiary institutions have also been directed to close all other revenue accounts maintained in commercial banks across the state.

Governor Ahmed said the new directive also bars the institutions from receiving fees and other revenues in cash or maintaining any other bank account other than those approved by the state Accountant-General.

According to him, the move was designed to ensure efficiency in revenue collection and disbursement.

The Governor assured that the institutions that they would continue to received budgeted funds from the State government as due.

He also stressed that the government’s only desire was to ensure efficiency in revenue generation and management.

The State Governor identified enhanced Internally Generated Revenue as the only way the state could survive the current economic crises in Nigeria.

He emphasised that that even if the Federal Government stops crude oil theft, Federal allocations are unlikely to return to previous levels, as the sustained drop in global oil prices is likely to continue.

“The heads of tertiary institutions in the state had an opportunity to demonstrate their managerial skills as they migrate from inefficiency in revenue generation to levels of sufficiency.

“All Ministries, Departments and Agencies are also barred from opening bank accounts or obtaining bank loans without authorisation from the Office of the Accountant General,” Governor Ahmed said.

The Governor called on banks to key into the government’s new revenue drive and avoid any actions capable of contravening the new revenue law, as the government would not hesitate to review its relationship with any commercial bank that attempts to sabotage the law.