Accountant-General having trouble reconciling TSA inflows

Office of the Accountant-General of the Federation, OAGF, is having trouble reconciling revenues being paid into the Treasury Single Account, TSA.

Its difficulties arise from the non-adherence to the directive that revenue payers must quote the Government Integrated Financial Management Information System, GIFMIS, Revenue Reference Numbers, RRN, of the Ministries, Departments and Agencies to which such payments are made through the Remita platform.

A Treasury Circular with reference number TRY/A2 &B2/2007/OAGF/CAD/026/VOL.III/93 dated May 17, 2017, was issued by OAGF to all MDAs. However, the problem has persisted. Consequently, the Central Bank of Nigeria, CBN, has directed all Deposit Money Banks, DMBs, to ensure strict compliance with the use of the GIFMIS Revenue Reference Numbers, RRN, in collecting revenue into the Treasury Single Account, TSA.

The directive is contained in a directive to banks in a circular with Reference, BPSD/DIR/GEN/CIR/04/009 dated September 25, 2017, cited by Vanguard, yesterday.

Vanguard, October 3, 2017

 

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