NewsExpress advert Yudala banner
Buhari shakes up state payments system in anti-graft drive

By newsexpress on 10/08/2015

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,558


President Muhammadu Buhari has ordered ministries to use only approved government bank accounts to make payments, the vice president’s office said on Sunday as part of drive to improve transparency and clamp down on corruption.

Buhari, who on assuming office in May promised to fight endemic graft in Africa’s biggest economy, said he believes officials have stolen around $150 billion from the public purse over the past decade.

Under the new system, all receipts due to the government or any of its agencies must be paid into accounts maintained by the central bank unless specific permission has been granted not to do so.

“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,” said Laolu Akande, a spokesman for Vice President Yemi Osinbajo.

“This measure is specifically to promote transparency,” he said, adding that the TSA would be linked to other government bank accounts.

Akande also said that the new system would end the use of “several fragmented accounts for government revenues,” which he said had led to “the loss or leakages of legitimate income meant for the federation account.”

The effectiveness of this change in public accounting remains to be seen since corruption and mismanagement of public funds have been entrenched in Nigeria’s political system for decades.

Last month, Buhari said his administration would trace and recover what he called “mind-boggling” sums of money stolen from the oil sector, which provides about 70 percent of revenues of the government in Africa’s biggest crude producer.

•Photo shows President Buhari.

Source newsexpress

Posted 10/08/2015 03:40:17 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Senate: Governors’ retirement home, By Olusegun Adeniyi

30 climbers fall sick on Mount Everest, 3...

National Conference doomed to fail —Ifa priests

Delta 2015: Youth groups, women rally for Okowa...

BREAKING: Boko Haram launches attack in Maiduguri

Gunmen kidnap German professor in Kaduna; kill 2...

LOOTING WITH STYLE: Reps, Service Wide Votes and...

Jammeh’s family, tourists flee Banjul

40 million victims of modern slavery in 2016:...

Freed Boko Haram commanders brag in video

Brazil 2014 World Cup: New PDP hails Super...

Elumelu Foundation, Durham University co-host academic conference on...

 

Latest News Boko Haram attack: Yobe parents submit list of 105 missing school girls Nigerian international businessman dies in Germany after brief illness FG approves ICT academy for 6 geo-political zones NAF trains 500 Special Forces on counter-terrorism, aircraft anti-hijack NCC gives condition for buyers of 9mobile Buhari assures Niger Delta of rapid development Kogi Governor in another voter registration controversy CBN boosts forex market with $321.4m Reckless Govt. House driver jailed 7 years for causing death of Prof. Festus Iyayi Abduction of Yobe schoolgirls a national disaster: Buhari FG assures stakeholders of safe maritime domain Migrants accuse Libyan Coast Guard of abuse

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (326,625 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (318,426 views) Shameless Genevieve Nnaji exposes breasts in public (255,189 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (209,315 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (194,961 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (188,016 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (163,742 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (146,999 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (140,571 views) Lagos plane crash: Journalist releases victims’ names (129,800 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (128,380 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (123,345 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (34) Business (2,906) Business Verdict (34) Columnists (805) Complaints & Requests (94) Enterprise & Opportunities (203) Entertainment (446) Features (549) Global Business Monitor (226) International (1,802) Interviews (143) Live Commentary (28) Love Matters (105) News (33,079) Opinion (884) Pidgin (10) Politics (4,522) Religion (684) Sports (1,440) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement