News

We Need Measures To Check Loopholes In TSA Implementation – CITM Boss

Published

4 years ago

August 17, 2022

The Registrar, Chartered Institute of Treasury Management (CITM), Olumide Adedoyin, on Wednesday insisted that there are no proper safeguards in place to ensure the effective implementation of the Treasury Single Account (TSA).

Adedoyin, who addressed reporters in Abuja also called for continuous training and retraining of personnel handling the process as some saddled with the responsibility do not understand it effectively.

Also as a means of checking wastage in the system, he urged that laws governing procurement be further domesticated.

He said, “Like every government policy, the TSA as it is a function of just an account. It is not an app, it is not a policy, it is just an account. What the TSA tries to do is to make sure that the government has its resources in place and are able to know what they have at any given time.

“Now the first step the government was supposed to take was to do what we call cash pulling. Call up your resources from every bank into one single account. Once you do so, those bank accounts you have should not be closed down, rather you try to moderate them into receiving banks. They receive on your behalf but you cannot disburse from those banks, while at the end of the day you just have an online real time balance to make sure that what comes in is being accounted for.

“That was supposed to be the function. But what we discovered at the end of the day was that there are some little processes and challenges within that platform because the back end for the audit was not adequately secured. So if you did not secure the back end, despite being able to make resources and bring those resources, then there is a little bit of opening in the back that could lead to hemorrhaging of resources and so on.

“I think as it is, we have actually reached out to the government on different fora, trying to make them understand that the importance of putting these back ends in check is quite important. Secondly we want to believe too that there must be an orientation of the continuous training and retraining of individuals. You would be surprised that some that are saddled with these responsibilities do not actually understand the process effectively.

“The problem as it is is that there are no safeguards in place. We talked about preventive mechanisms. That as it is is lacking. We talked about allowing treasury management to impact your cash management processes. That too is lacking. So these are those fundamental areas that we are concerned about. So that once you are able to make sure, for example, if X amount is budgeted for a project, how do you approach that project? For example you want to build roads, bridges, culverts, now you cannot release the funds for the completion of that road all at once, because it has a process of design, a process of building the culverts, bridges, your overlays and every other thing.

“What you need to do first and foremost, is to be able to design those projects with timelines. Once you design with timelines, release the funds that are responsible. Once those funds are released make sure they are tied to individual aspects of those contracts. While we are doing that, whatever you have as excess, invest those monies in very short term investment processes that would assist the process, either even if it is just on commercial papers or government bonds for that period, so that invariably the value of the money would not be lost.

“Once you do this effectively, it would be difficult for anybody to come back and start looking for variation on those jobs. these things you can put in place as one. Number two, if you need to make things work, you need to be radical about it. radical in the sense that the laws governing procurement and other things have to be further domesticated. What do I mean? You make sure that equipment and items that are bought on yearly basis that are being wished away could have a much longer lifespan.

“For example, in the office you keep buying photocopiers on a yearly basis. Of course you discover that the copier can even last you five to 10 years, when properly maintained. so those monies on those recurrent things that can be used beyond the length of those life-shares could be ploughed back into the system. What happened to those monies? They get stolen and diverted.”

News

Children’s Day: Chaos At Ogbe Stadium As Dozens Faint

Published

14 hours ago

May 27, 2026

Editor

Chaos erupted on Wednesday during the Children’s Day celebration as dozens of students reportedly collapsed following a stampede triggered by the use of pepper spray.

The event,
organised by the Edo State Ministry of Education at the Samuel Ogbemudia Stadium was disrupted after some male students of Ihogbe College allegedly made uncompromising advances towards female students at the venue.
‎
‎ A parent who identified himself as Oboh Emmanuel said, “the behaviour of those uncultured students attracted the attention of bouncers stationed at the stadium as they rebuked the male students.”
‎
‎Oboh said the affected students later regrouped and attacked the bouncers, leading to a confrontation within the crowded arena.

READ ALSO:Children’s Day: Edo Commits To Child Protection
‎
It was gathered that in the ensuing confusion, the bouncers were reported to have deployed pepper spray in an area occupied by a large number of students.
‎
‎Several students, particularly female students, reportedly fainted after inhaling the substance, while others sustained injuries after being stepped on during the ensuing melee.
‎
‎The panic was said to have spread across the stadium as students, teachers and parents scampered for safety.
‎
‎Many of the affected students were reportedly rushed to the Edo Specialist Hospital for medical attention.

Reacting to the incident, Chief Press Secretary to Governor Monday Okpebholo, Dr Patrick Ebojele, said the security personnel that fired the tear gas had been detained.

He said all the students, except two, that were rushed to the hospital have been discharged.

Ebojele stated that doctors wanted to observe the students till tomorrow before allowing them to go home.

“The two students are not seriously injured. Doctors want to observe them overnight. Permanent Secretary, Ministry of Education is still at the hospital. The man who used pepper spray has been detained.

“The incident did not happen the way it is being exaggerated. All modalities were put in place to ensure the children enjoyed their day.”
‎

News

Okpebholo Salutes Edo Muslims, Seeks Continued Support, Prayers

Published

15 hours ago

May 27, 2026

Editor

Governor Monday Okpebholo of Edo State has urged Muslims and all Nigerians to continue to pray for peace, unity and progress in the country even as they celebrate the annual Eid-al-Adha

The governor, who was represented by his deputy, Dennis Idahosa, stated this during the annual Eid-al-Adha celebration with Muslim faithfuls held at Government House in Benin City.

He reiterated his administration’s commitment to fairness, inclusivity and equal opportunities for all citizens irrespective of religion and tribe.

According to him, the present administration remains determined to building a government that reflects the diversity of Edo State, noting that competent and qualified Muslims have continued to play vital roles in his government because of their capacity, integrity and commitment to service.

“As a government, we remain committed to fairness, inclusivity and equal opportunity for every Edo citizen, irrespective of religion, ethnicity or political affiliation. This is why quality and competent Muslims are serving in key positions in our administration.”

Okpebholo appreciated the Muslim community in Edo State for their unwavering support and continuous prayers for his administration, noting that such prayers and support have contributed immensely to the peace and steady development being witnessed across the state.

He then called on all Nigerians to use the occasion of Eid-al-Adha to pray for the administration of President Bola Ahmed Tinubu, stressing that the country needs collective prayers, unity and cooperation to overcome its present economic and security challenges.

“I urge all Muslims and indeed all Nigerians to use this occasion to pray for our dear nation and for the administration of President Bola Ahmed Tinubu. Nigeria needs our collective prayers, unity and support as we strive to overcome our challenges and build a more prosperous future for all.”

In his remarks, the Chief Imam of Edo State, Abdulfatai Enabulele, applauded the governor for what he described as remarkable developmental strides recorded in less than two years in office.

The cleric commended the administration for ongoing infrastructural development and efforts geared towards improving governance in the state, but appealed to the government to revisit and complete some abandoned projects inherited from the previous administration for the benefit of the people.

News

Children’s Day: Edo Commits To Child Protection

Published

15 hours ago

May 27, 2026

Editor

The Edo State Government has reaffirmed its commitment to protecting the rights of children, promoting quality education, and strengthening sports development across the state.

This assurance was given by the governor of Edo State, Monday Okpebholo, during the 2026 Children’s Day Celebration and Governor’s Cup Finale held on Wednesday at the Samuel Ogbemudia Stadium, Benin City.

Addressing pupils, students and teachers,
the governor described children as the pride of Edo State and the future of the nation.

The governor, represented by his deputy, Dennis Idahosa,
noted that the annual celebration provides an opportunity to honour their dreams, talents, and limitless potential.

Speaking on this year’s Children’s Day theme, “Choose Kindness, Reject Bullying,” the governor said the message was timely and significant, as it emphasizes the need to create safe, supportive, and inclusive environments for children both in schools and communities.

He stated that bullying in all forms — physical, verbal, emotional, or online — has no place in society, adding that the Edo State Government remains fully committed to protecting the rights and dignity of every child.

According to him, the administration will continue to strengthen policies and programmes that promote child protection, discipline, mutual respect, and positive learning environments across schools in the State.

The governor urged children to embrace kindness, compassion, teamwork, and respect for one another, stressing that true strength lies not in intimidation but in empathy, good character, and mutual understanding.