Connect with us

Business

TREASURY SINGLE ACCOUNT: Ministries, Agencies still operating illegal accounts, Director alleges

Published

on

States set to receive final tranche of Paris Club refund

The Director of the Treasury Single Account (TSA), Sylva Abor, has said that some Federal Ministries, Departments and Agencies are still operating illegal accounts outside the TSA.

He explained that apart from a few MDAs which were given exemptions on certain grounds by the Federal Government, other MDAs were expected to comply with the directives “100 per cent.”

Abor stated this during a meeting in Abuja with a civil society group, United Global Resolve for Peace (UGRFP) , led by its Executive Director, Shalom Olaseni, according to a statement issued by the UGRFP on Sunday.

The statement disclosed that the meeting discussed, among other things, charges being paid by the public to SystemSpecs Nigeria Limited for the running of the e-collection platform, REMITA, at N150 per transaction the charges on Nigerians by the Central Bank of Nigeria without recourse to the National Assembly or the public.

Read also: OPEC welcomes appointment of Kyari as NNPC boss

The statement read in part, “The director, however, conceded that certain accounts belonging to some Ministries, Departments and Agencies had yet to be reflected on the TSA platform, noting that they were exempted on certain grounds by the Federal Government while some others continue to illegally operate accounts on the fringes of regulation.

“We reiterated our position that paying N150 is a needless cost borne by the Nigerian public. It is our position that there is indeed room to review the service charge from N150 to not more than N50 payable per transaction and at the expense of the government.

“It is also our position that there is an urgent need to legislate on the treasury single account scheme to give it a legal instrument that makes it not just a state policy but one that cannot be arbitrarily done away with by subsequent governments.”

By Babatunde Alao…

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Investigations