Politics

BoSS directs commercial banks to close all govt bank accounts

The logo of the Bank of South Sudan
BoSS directs commercial banks to close all govt bank accounts

The Bank of South Sudan has written to commercial banks to close all government bank accounts.

In a directive issued Tuesday, seen by Eye Radio, the central bank cited the decision emanated from the Ministry of Finance and Planning.

It stated that the Finance and Planning Ministry noted that while some government Institutions have opened the accounts with authorization from the ministry, others without.

The move is targeting national and state ministries as well as commissions.

“…the BoSS is hereby directing all commercial banks to close all Bank Accounts of all Central Government Institutions (Ministries& Commissions and State Governments)”, the statement partly read.

BoSS added that account balances should be transferred to a suspense account pending its next step.

While the directive exempted bank accounts of donor-funded projects, the Bank of South Sudan, required that commercial banks submit their details to the institution by Friday.

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