Monday, 10 August 2015

Buhari orders all govt Ministries & Agencies to have single treasury account!


Buhari orders all govt Ministries & Agencies to have single treasury account!
No more business as usual indeed in Nigeria.All corrupt public
officials must be
cursing the day Buhari came into power.This
latest move by the government will make it even harder to
public funds..Every thing will be transparent and accountable.It
just makes you wonder why simple and effective steps like
these were not taken before,but i guess we all know
why.

See the Press statement from the presidency below...
President Muhammadu Buhari has ordered each and every
Federal Government Ministry, Department or Agency to start
paying into a Treasury Single Account (TSA) for all government
revenues, incomes and other receipts. According to the
directive, this measure is specifically to promote transparency and facilitate compliance with sections 80 and 162 of the 1999
Constitution.
Henceforth, according to a statement by Laolu Akande, the
Senior Special Assistant to the Vice President on Media and
Publicity, all receipts due to the Federal Government or any of
its agencies must be paid into TSA or designated accounts
maintained and operated in the Central Bank of
Nigeria (CBN),
except otherwise expressly approved.
A TSA is a unified structure of government bank accounts
enabling consolidation and optimal utilization of government
cash resources. It is a bank account or a set of linked bank
accounts through which the government transacts all its
receipts and payments and gets a consolidated view of its cash
position at any given time.
This presidential directive would end the previous public
accounting situation of several fragmented accounts for
government revenues, incomes and receipts, which in the recent
past has meant the loss or leakages of legitimate income meant
for the federation account.
It would be recalled that President Muhammadu 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.
‘Laolu Akande
Senior Special Assistant to the Vice President
(Media & Publicity)

No comments:

Father's Day 2023: Asaba Cleric Calls for Total Submission to God's Directives.

 _By Chidex Onyemah_  The resident priest at the Christ Holy Church International Asaba 2 district, Rev. Pastor Alexander Muo, has called on...