Imo State is in debt to the tune of 97 billion naria as at March 31, 2019 and 61 million dollars as at June 2018.
This was revealed by Dr.Abraham Nwankwo, Chairman Imo State Financial Advisory Commitee.
Nwankwo who spoke at a radio programme in Owerri said the Single Treasury Account, TSA, signed as a Executive Order O05, by Governor Emeka Ihedioha, was part of efforts to sanitize and streamline the State financial system.
He said over 250 accounts were operated by past administrations in the State.
” In a particular bank, we had over 100 accounts. Some of them opened with pseudo names and operated by individuals” he revealed.
Imo State Governor , Hon.Emeka Ihedioha, had signed Executive Order 005, to signal the take off of Treasury Single Account, TSA in the State.
” We are in a democracy. We are representing the interest of the people. I take this action to stem the tide of abuse of the system of governance in Imo State. We have started the sanitization of the financial process” he said