Africa-Press – Nigeria. In a strategic move to enhance financial transparency and streamline efficiency in revenue management, the Katsina State Government has engaged Rentech Solutions to implement its Treasury Single Account, TSA, system.
Bishir Tanimu Gambo, the Commissioner of Finance, disclosed this while briefing newsmen on their deliberations at the 8th executive council meeting of the Dikko Umaru Radda-led administration.
Gambo revealed that the TSA implementation across all state ministries, departments, and agencies (MDAs) will commence from January 2024. Rentech Solutions will oversee the initial six months, including personnel training for a smooth transition after their tenure.
“In line with the strategic policies of His Excellency, Malam Dikko Umaru Radda’s administration, the engagement of Rentech Solutions has been approved. This move aims to efficiently utilise, monitor, and prevent potential fraudulent activities involving government funds,” Gambo stated.
Rentech Solutions, a specialised firm in TSA implementation and revenue management, was selected among competing proposals for its expertise in optimising tax collection, streamlining billing processes, and reinforcing financial reporting. The firm’s role will be to consolidate all state revenue and expenditures into a unified account, promising increased efficiency and reduced costs.
“The initiative aims to gain comprehensive control over state revenue streams and eliminate financial loopholes,” Gambo stressed.
This announcement follows Governor Radda’s emphasis on strengthening tax collection efforts and reducing reliance on federal allocations earlier this year. Governor Radda highlighted the state’s intent to digitise revenue collection, aiming for economic self-sufficiency to cover state workers’ salaries without heavy dependence on federal allocations.
Rentech Solutions proposed user-friendly solutions to enhance revenue collection across various categories in the state. Its plan includes a collaborative partnership with the Katsina State Internal Revenue Service to address challenges identified in the collection process.