How Buhari’s TSA saved Nigeria billions of naira
Already,
President Muhammadu Buhari’s resolve to rid Nigeria of corruptive
elements is fast yielding results as billions of naira are being saved
in the process.
Shortly after his inauguration, President Buhari ordered every
Federal Government Ministry, Department and Agencies to start paying
into
a Treasury Single Account (TSA) for all government revenues,
incomes and other receipts.
The Daily Times gathered that through the
implementation of the TSA, a whopping N8 billion was uncovered in a
single account in an old generation bank. The said amount is said to be
operated in the name of a defence operation account.
A text message to the Group Head, Marketing and Corporate
Communications of the bank, to authenticate the story, was not responded
to as at press time. Similarly, Senior Special Assistant to President
Buhari on Media and Publicity, Mallam Garba Shehu, did not also respond
to a text message sent to him to speak on the alleged uncovering of the
amount in the bank as at press time.
Col. Rabe Abubakar, Acting Director of Defence Information was also
contacted through a text message but failed to respond to it as at press
time.
It would be recalled that President Buhari had earlier promised state
governors at the inaugural meeting of the National Economic Council,
NEC, in June, that all revenues prescribed for lodgement into the
federation account will be treated as such under his watch and that he
will ensure strict compliance with all relevant laws on accounting,
allocation and disbursement.
Since then, the Presidency has worked with relevant agencies of the Federal Government to evolve this policy directive.
This directive applies to fully funded organs of government like the
Ministries, Departments, Agencies and Foreign Missions, as well as the
partially funded ones, like Teaching Hospitals, Medical Centres, Federal
Tertiary Institutions, etc.
Agencies like the CBN, SEC, CAC, NPA, NCC, FAAN, NCAA, NIMASA, NDIC, NSC, NNPC, FIRS, NCS, MMSD, DPR are also affected.
For any agency that is fully or partially self-funding, Sub-Accounts
linked to TSA are to be maintained at CBN and the accounting system will
be configured to allow them access to funds based on their approved
budgetary provisions.
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