The Akwa Ibom State House of Assembly has passed a motion urging the state government to establish a Central Revenue Account (CRA) — a unified financial structure designed to consolidate all revenue collections and reduce leakages in the state’s financial system.
The motion, sponsored by Hon. Effiong Johnson, House Leader, cited the Federal Government’s Treasury Single Account (TSA) as a successful example of financial centralisation that improved transparency and accountability in revenue management.
According to Johnson, the CRA will “plug all avenues of revenue wastage” by ensuring that all ministries, departments, and agencies (MDAs) remit funds into one account domiciled with the state treasury.
“We must ensure that every kobo generated by government finds its way into one transparent, traceable account that reflects real-time fiscal activity,” he said.
The lawmaker added that Akwa Ibom, despite its oil wealth, has witnessed “structural inefficiencies” in revenue collection, stressing that a centralised system would modernise state accounting processes and strengthen public confidence.
In supporting the motion, Hon. Kufreabasi Edidem (Itu State Constituency) said the proposed structure should leverage technology to facilitate multi-channel payments and make it easier for rural citizens to pay taxes, levies, and service fees without exploitation by intermediaries.
Speaker Elder Udeme Otong directed the Committee on Finance and Appropriation to interface with the Ministry of Finance, Ministry of Science and Digital Economy, and the Akwa Ibom Internal Revenue Service (AKIRS) to draft an implementation framework.
Economic analysts have welcomed the move, saying it aligns with international best practices for subnational revenue management and could help Akwa Ibom diversify its economy while promoting fiscal discipline.
