Eight Banks for revenue’s single Account
Dr. Olympio Attipoe (3rd centre) with representatives of the Commercial Banks after signing the agreement on Monday, December 03rd 2018 (photo by Morris Dogga):
By Morris Dogga
The National Revenue Authority (NRA) yesterday signed an agreement with eight Commercial Banks to open a single account to be used for the collection of the country’s domestic non-oil revenue.
The Commissioner-General of the National Revenue Authority, Dr. Olympio Attipoe said the move was to stop the flow of the Government Revenue into individual pockets.
The eight commercial banks include Eco, Equity, Kenya Commercial, Ivory; Kush, Stanbic; Buffalo and Cooperative Banks.
He directed all banks to abide by the laws and the rules of the NRA collection in the country.
“We don’t want any government money to be dropping into anybody’s pocket. We want every single coin that we are collecting to just go into that one account so that at the end of the day it can be removed for disposal for everybody to benefit,” Dr. Attipoe said.
“What we want is to make sure that we protect government resources and to make sure that every fund that is generated is entered into the account in a transparent manner,” he added.
The Commercial Banks were expected to finish the paper work this week so that the accounts are operational by next week according to the NRA Commissioner General.
“We have people who are suffering in this country, they need service delivery from the government, and we cannot collect money and the money will be going to people’s pocket and individuals,” Dr Attipoe said.
Speaking last week during the swearing in of the new director general of the Customs Service, President Salva Kiir tasked the new Customs Director to tackle corruption.
Three months ago, the NRA signed one year agreement with five commercial banks to collect government revenue on behalf of the Authority but Dr Attipoe said he cancelled the contracts because there were some individuals who were resisting the move.
“It is very clear that everybody is complaining that there is no money yet we are collecting money. So the question we should be asking ourselves is that if we are generating money every day and we are saying that there is no money, then where is the money going to?” he wondered.
With the single bank account, Attipoe said the collection of all non-oil revenues which will be generated from other agencies including the NRA, the customs division and the taxation department would be effective.
He added that there has been a growing concern from the public about the manner in which the government resources had been accounted for.
“It is very important for us to support the government initiative to put some discipline in the financial management system,” Dr Attipoe said.
According to the NRA Commissioner, after collecting the money, some of the commercial banks transfer the money to the central bank in form of book records but not in form of physical cash.
Taban James from Stanbic Bank who spoke on behalf of the commercial banks said they would ensure that the collection of the revenue would be effective.