Kwara State Government has won the 2019/2020 World Bank-supported State fiscal transparency, Accountability and Sustainability (SFTAS). The state was alloted $16.9m which is the highest ever achieved by the state since the initiative began in 2018.
The grant, followed a report submitted by the independent verification agents, the document showed that the state acted in line disbursements linked indicators (DLIs).
The DLIs include improved financial reporting and budget reliability; increased citizens engagement in budget process; strengthened internally generated revenues (IGR); biometric and BVN used to reduce payroll fraud; strengthened public debt management; improved debt sustainability; implementation of a tax compliance for individual taxpayers and businesses; strengthened procurement function for COVID-19 or emergency situation and facilitated participation of SMEs in public procurement resilient recovery phase; and publication and approval of amended COVID-19 response budget.
According to the press secretary of the Ministry of Finance and Planning, Saad Hamdalat, the result is that the state is eligible to the total sum of $16,900,000 with an initial disbursement of $5m earlier paid in November, the state received additional $9.4m on Monday, 4th January and would await the balance of $2.5m later in the month.
The secretary also announced the receipt of N795,327, 222:21 as the third tranche of the 25% refund of unremitted PAYE from federal government’s MDAs domiciled in the state.