FG to MDAs, September 15 a must

Indications have emerged that the financial ‘recklessness’ witnessed in the past in the Federal Government Ministries, Departments and Agencies (MDAs) will soon cease as the government has insisted that there would be no shift in the September 15 deadline for Treasury Single Account (TSA) operation.

TSA is a unified structure of bank accounts through which government transacts all its receipts and payments and gets consolidated view of its cash position at any given time.

In a statement issued on Friday by the Deputy Director of Press in the Office of the Accountant General of the Federation, Mrs. K.N. Offie, the Accountant-General of the Federation, Ahmed Idris, said the date was not subject to any postponement and therefore directed all the MDAs to close all their accounts with commercial banks on or before the deadline.

According to the statement, the implementation guidelines have been developed and would soon be made available to all the relevant bodies and the general public.

Read also: CBN wants states to operate TSA

The president had on August 7 issued a directive that all revenue due to the Federal Government or any of its agencies must be paid into the Treasury Single Account or designated accounts maintained and operated in the Central Bank of Nigeria(CBN), except otherwise expressly approved.

The president has promised to ‘punish’ any MDA that fails to comply fully with the directive after September 15.

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