President Buhari Orders MDAs To Migrate All Govt Revenues To Treasury Single Account
The federal government has ordered every federal ministry, department or agency to commence the payment of all government revenues, incomes and receipts into a treasury single account TSA operated and maintained with the CBN except otherwise expressly approved.
The measure is taken to promote transparency and facilitate compliance with sections 80 and 162 of the 1999 constitution.
The statement signed by the senior special assistant to the vice president Laolu Akande says the policy directive would end fragmented accounts for government revenues and receipts which had led to loss or leakages of legitimate incomes meant for the federation account.
For any agency that is fully or partially self funding, sub accounts linked to TSA are to be maintained at the CBN and appropriately configured to allow access to funds based on approved budgetary provisions.