FG begins implementation of Treasury Single Account for MDAs

Posted by News Express | 12 August 2015 | 3,741 times

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The Federal Government has started immediate implementation of the Treasury Single Account for all Ministries, Departments and Agencies (MDAs) as ordered by President Muhammadu Buhari.

This was indicated in a circular by the Head of the Civil Service of the Federation, Danladi I. Kifasi, dated 7th Aug, 2015, entitled “Re: Introduction of Treasury Single Account (TSA) (e-Collection of Government Receipts)”.

The circular made it known that President Buhari “has approved the establishment and operation of Treasury Single Account for e-Collection of Government Receipts for all Federal MDAs with effect from the date of this circular.”

According to the circular, “To aid transparency and facilitate compliance with sections 80 and 162 of the Constitution of the Federal Republic of Nigeria 1999 (as amended), all receipts due to the Federal Government or any of her agencies shall be paid into the TSA as follows: Account Name: Accountant General (Federal Sub-Treasury), Account No. 3000002095 maintained in the Central Bank of Nigeria (CBN), except otherwise expressly approved.”

Kifasi disclosed that “Government has put in place effective monitoring mechanisms to ensure strict compliance. All Accounting Officers, Directors of Finance and Accounts, Directors of Internal Audit, Heads of Accounts and Heads of Internal Audit Units of MDAs and other arms of Government are enjoined to give this Circular the widest circulation and ensure strict compliance to avoid sanctions.”

He advised that further enquiries on the issue should be directed to the Accountant-General of the Federation.

•Photo shows Accountant-General of the Federation, Ahmed Idris.

Source: News Express

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