September 8, 2015 – President Muhammadu Buhari has directed all ministries, departments and agencies (MDAs) of the Federal Government to unfailingly comply with the instructions on the Treasury Single Account (TSA) by September 15, 2015 or face sanctions.
TSA: Buhari to sanction failing ministries, parastatals
In a circular dated Friday, September 4, 2015, the Head of the Civil Service of the Federation, Mr. Danladi Kifasi said that a number of MDAs are yet to comply with the directive.
An earlier Circular issued by the Head of the Civil Service of the Federation on August 7, 2015, announced the introduction of the TSA with the directive that all receipts due to the Federal Government or any of her agencies are to be paid into the Federal Sub-Treasury account maintained in the Central Bank of Nigeria (CBN).
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The implementation of the TSA, according to the circular, is expected to aid transparency and facilitate compliance with Sections 80 and 162 of the Constitution of the Federal Republic of Nigeria 1999 (as amended).
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