This announcement was made recently as part of Ekiti State Government’s deepening of the implementation of the state’s Treasury Single Account initiative, a move that will further enhance transparency and accountability in governance of the state.
Powered by SystemSpecs, the financial technology and human capital software powerhouse and owners of Remita, the project covers 70 MDAs and institutions in Ekiti State.
Speaking during a Press briefing at the Ministry Hall, Honourable Commissioner for Finance and Economic Development Dapo Kolawole, said that a Treasury Single Account (TSA) Compliance Monitoring Committee has been set up to ensure due compliance by all MDAs.
“As part of our commitment to transform the lives of the good people of Ekiti state, we have commenced the accelerated implementation of the Treasury Single Account to entrench accountability and transparency in the management of the finances of our dear state.
“We have appointed SystemSpecs, the same firm that delivered the Federal Government of Nigeria’s TSA project to deploy its Remita platform for Ekiti State. We are not only delighted that individual and corporate citizens have more options with which to pay, but also that government can also more easily know its true financial position at any time.
“We are creating systems that will outlast this administration on the ground of good governance and legacy and this move is a welcome development to financing the affairs of government of Ekiti State.
“The governor, John Kayode Fayemi is ardent on building a lasting system that will promote accountability and transparency. This initiative will go a long way in resolving financial issues in the state.
Divisional Head, Remita Payment Gateway and Infrastructure, SystemSpecs, Demola Igbalajobi said the platform will enable payers to seamlessly make payments to Ekiti State MDAs and institutions, using any of the Remita channels (State-wide Payment Points, Bank Branches (commercial and microfinance), Debit/Credit Cards, Internet Banking, PoS, Mobile Wallet and USSD) that is most convenient for them.
“The State is able to issue invoices for every transaction; each transaction is traceable from the point of invoicing through the payment journey and into the State’s bank statement. Each MDA is able to verify transactions receipts independently and securely before delivery service. The state also has access to real-time balances of its accounts at any point in time,” he said.
He also said that this development would also enable the state to participate in the 2018 Sustainable Development Goals (SDG) conditional grants scheme initiated by the Federal Government.
“We are delighted to partner with Ekiti State in bringing efficiency, transparency and increase to the state’s revenue collections. We appreciate the opportunity to bring our experience and technology to the table in support of the state’s drive to reposition its finances for accelerated economic development. SystemSpecs has done same with the Federal Government and other states in Nigeria, and we are starting to the same in other African countries,” said.
Director General, Information Communication Technology (ICT), Ekiti State Dr. Hakeem Bakare said that the TSA is a welcome development as this will fast track financial process in the state.
“On this platform, payments, collections and other forms of financial transactions are faster and this I believe, improves the services of all MDAs in the state contrary to old forms of revenue payment or collection.
“The ICT arm of the state government will continue to support the state by holding constant trainings that will improve the activities of governance,” he said.
Ekiti State Accountant General and Permanent Secretary, O. Owolabi (Mrs) urged all MDAs to embrace the new development saying that the ministry will continue to give maximum support to the operations of all stakeholders.
“We will continue to create enabling environment for all MDAs and stakeholders alike in the state by developing innovative programmes that will improve services provided by the government,” she said.
Launched in 2005, Remita is a leading financial technology solution that has been tested and trusted by individuals, businesses of all sizes including conglomerates, and governments at all levels, in and outside Nigeria for the management of their payments, billing, collection and payroll management systems that deliver exceptional Real-Time Transaction Tracking and Reporting across multiple platforms.
Officials and Institutions represented at the meeting include; Deputy Accountant General, Mrs Ayo Salami; Special Assistant on Finance, Mr. Omotayo Babarinde; CHST, Ijero-Ekiti; College of Education, Ikere-Ekiti; HMB & FHL (TOLTEM), Ekiti State University Teaching Hospital, WEMA Bank, Calenpoint Limited, SystemSpecs Limited (Remita) and CashConnect Microfinance Bank.
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