To ensure transparency and accountability in the operations of public accounts, Muhammadu Buhari has ordered the Ministries, Departments or Agencies, MDAs, under the Federal Government to run a Treasury Single Account, TSA, which will be domiciled at the Central Bank of Nigeria, CBN.
Also affected by the directive were Foreign Missions,Teaching Hospitals, Medical Centres, Federal Tertiary Institutions. Agencies like the Central Bank of Nigeria, CBN, Security and Exchange Commission SEC, Corporate Affairs Commission CAC, Nigeria Ports Authority, NPA, Nigerian Communications Commission, NCC, Federal Airport Authority of Nigeria, FAAN.
Others are NCAA, NIMASA, NDIC, NSC, NNPC, FIRS, NCS, MMSD, DPR. President Buhari’s directive is drawn from section 80 of the 1999 Constitution. The section 80 (1) reads:
All revenues or other moneys raised or received by the Federation (not being revenues or other moneys payable under this Constitution or any Act of the National Assembly into any other public fund of the Federation established for a specific purpose) shall be paid into and form one Consolidated Revenue Fund of the Federation.
(2) No moneys shall be withdrawn from the Consolidated Revenue Fund of the Federation except to meet expenditure that is charged upon the fund by this Constitution or where the issue of those moneys has been authorised by an Appropriation Act, Supplementary Appropriation Act or an Act passed in pursuance of section 81 of this Constitution.
(3) No moneys shall be withdrawn from any public fund of the Federation, other than the Consolidated Revenue Fund of the Federation, unless the issue of those moneys has been authorised by an Act of the National Assembly. (4) No moneys shall be withdrawn from the Consolidated Revenue Fund or any other public fund of the Federation, except in the manner prescribed by the National Assembly.
Meanwhile, a TSA is a central bank account system for all government transactions where all its receipts and payments are harmonized for accountability.
Vanguard report.
Baba abeg u avent done any tangible thing ever since u became d president. So far, haven't seen any change! Regretting y I voted for APC phew!
ReplyDelete#fingercrossed
DeleteDear Aunty Gwawalada,
DeleteThe refineries that are NOW working nko?
The man is try ooooh.
He is trying to clean up a large mess.
Good job Buhari.
This comment has been removed by the author.
ReplyDeleteThis too isn't tangible? The Ogoni cleanup isn't tangible? You expected magic? Does he look like Professor Peller?
DeleteSharap! He looks like abrakataba! We need magic!
DeleteAunts foolish. The article shows measures to cub corruption at MDAs and civil service. Go back to school. Try to be responsible and remove that crappy pic u got there.
Deletea.k.a EDWIN CHINEDU AZUBUKO said..
ReplyDelete.
There is hope with this man no lie.....
.
.
***CURRENTLY IN JUPITER***
Yes ooo... the new Nigeria. Change don land!!!!
DeleteOK.Seen.
ReplyDeleteChange is here
ReplyDeleteOK oh! I pray this works.
ReplyDeleteOK oh! I pray this works.
ReplyDeleteNoted
ReplyDeleteThis is a very good development that will stop unnecessary leakages from the Federation account. Thank God for President Buhari, if President Jonathan had continued, Nigeria would have been heading the way of Greece.
ReplyDeleteYou voted for change. so you are expecting change aunty gwegwegwe. stop crying for the change you voted.
ReplyDeleteGood.
ReplyDeletewith time change will come
ReplyDeleteAnything is better Dan d past 16yrs of debauchery. This is more than anything this is something. For once there Is a man that is out to show us the way to go for the betterment o the people of this country
ReplyDeleteMay God be with you as you do d nredful
It's obvious we don't read the news. TSA has been in effect since 2012. Initiated by the last govt and a phase by phase enrollment of MDA's. I work in parastatal. The scheme started first with the expense account and revenue accounts January this year. The infrastructure is massive and security protocol required to manage the TSA to ensure there is no breach and also to avoid overload and system breakdown.
ReplyDeleteTruly, the rule has existed since 2012 - on paper. Never obeyed and nobody forced the issue. If u truly work in a parastatal, Anon. 21.39, then you must know this. Or perhaps u are one of those that has been frustrating its implementation. Just like the excuses u have given in your post. Change has come!
Delete