Economy

Gov’t orders banks to move public establishments funds to Single Treasury Account.

Finance Minister, Louis Paul Motaze (middle) chairing meeting yesterday

Government has increased pressure on banks and other financial institutions holding accounts of public establishments to transfer such funds to the Single Treasury Account.
The renewed announcement was made during a workshop in Yaounde, yesterday. Officials said it was to raise awareness in the run-up to the inventory of public projects and programme funds held by credit institutions.

According to the Minister of Finance, Louis Paul Motaze, the inventory would increase remittances into the Single Treasury Account to enable the government oversee all resources it has at its disposal.

The minister said it will also make easy for government to plan, better target funds, and step up transparency and accountability benchmarks.

The Single Treasury Account, housed at the Bank of Central African States, BEAC, is a unified banking structure implemented by the Ministry of Finance not only to consolidate all government cash resources, but also to optimize public liquidity.

Officials said it complies with regional financial reforms stipulated by the Economic Community of Central African States, CEMAC Commission.

The Single Treasury Account, officials noted, necessitates stricter centralisation by pulling public cash from commercial banks into the central bank.

This, they stated, makes it possible to track daily state liquid assets, cash flow, and cuts costs by reducing reliance on expensive State borrowing by utilizing idle internal funds.

As government strives to transit from cash to digital payments, Minister Motaze said it has become necessary for its funds to be held in one account so that the entire stock of funds experiences the transition.

The Minister of Finance said such is better rather than part of the funds undergoing the envisaged modernisation with the putting into use on the digital instruments put in place.

He said it is not good for government funds to lie elsewhere and are being expended in the traditional way.

He said councils have diverse accounts with funds lying idle, whereas the central government is overwhelmed with diverse demands and expenditures.

He insisted that funds, whether held by regional or local authorities are government funds, to which the central government should have access.

Motaze said this is vital so that incase the State is faced with critical circumstances and experiences shortage of funds to meet its obligations, it can access the money.

Participants were drawn from the Central bank, community of donors, public enterprises, administrative public establishments, the Autonomous Sinking Fund and other operators of the banking system as well.

The inventory, it was said, is also aimed at identifying banks that have solvency risks, guaranteeing the security of all State funds, without destabilising the banking sector but at the same time strengthening it and giving it greater credibility.

This article was first published in The Guardian Post Edition No:3925 of Wednesday September 30, 2026