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600 MDAs comply with Treasury Single Account – FG

The Federal Government on Tuesday said out of the 900 Ministries, Departments and Agencies of government, about 600 of them have so far complied with the directive on Treasury Single Account.
The TSA is a platform that unifies all government accounts by ensuring that all monies, belonging to the government, are kept with the Central Bank of Nigeria.
The Federal Government had set a deadline of September 15 for all MDAs to comply with the new policy.
The Accountant General, Alh Ahmed Idris, while giving an update on the exercise shortly after this month’s Federation Account Allocation Committee meeting, said the process was slow at the beginning owing to what he described as “teething problems.”
He said despite the challenges at the beginning, the Federal Government had recorded huge success with the exercise.
Idris added that while 600 agencies of government had fully complied with the directive, others were still at different stages of compliance.
The final figure, according to him, would emerge after the CBN had concluded its work on the new policy.
He said contrary to reports that some MDAs were exempted from the exercise, the Federal Government had not excluded any of its agencies from complying with the directive.
He said, “The TSA is in place and there is a clear cut directive from the government that all MDAs without exception must comply.
“My office is working closely to enlist and enroll MDAs so that they can be able to access and utilize their resources. This policy is to make all MDAs to be effective and operational.
“We experienced some teething problem at inception but it is easing off. The deadline stands and as at today (Tuesday), 600 MDAs out of 900 MDAs have so far complied.
“The accounts are still ongoing at the CBN And at bye end we will know the number of MDAS that have complied.”
Meanwhile, allocations from the Federation Account to the three tiers of government dropped by N69.19bn from N511.79bn in July to N442.6bn for August.
The Permanent Secretary, Federal Ministry of Finance, Mrs. Anastacia Nwaobia, said while briefing journalists at the end of the meeting, explained that the amount were shared under three distributable sub-heads.
They are statutory allocation, N369.1bm; Value Added Tax distribution, N62.17bn; and refund by the Nigerian National Petroleum Corporation, N6.3bn.
Out the the amount shared under statutory allocation, the Federal Government received N168.6bn, representing 52.68 per cent; states, N85.52bn or 20.6 per cent; while local governments got N65.93bn.
Similarly, the sum of N27.87bn was allocated to the nine oil producing states based on the 13 per cent derivation formula.

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Posted By Bobricky On 09:56 Tue, 22 Sep 2015

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