{"id":5511,"date":"2015-08-09T20:36:37","date_gmt":"2015-08-09T20:36:37","guid":{"rendered":"http:\/\/newsroom247.com.ng\/?p=5511"},"modified":"2015-08-09T20:36:37","modified_gmt":"2015-08-09T20:36:37","slug":"buhari-orders-all-ministries-departments-nnpc-nimasa-npa-cbn-others-to-pay-all-revenues-into-treasury-single-account-at-cbn","status":"publish","type":"post","link":"http:\/\/newsroom247.com.ng\/?p=5511","title":{"rendered":"Buhari Orders All Ministries, Departments, NNPC, NIMASA, NPA, CBN Others To Pay All Revenues Into Treasury Single Account At CBN"},"content":{"rendered":"

President Muhammadu Buhari has ordered all Federal Government Ministries, Departments and agencies to open a Treasury Single Account (TSA) and start paying in all government revenues, incomes and other receipts.
\nAccording to the directive, this measure is specifically to promote transparency and facilitate compliance with sections 80 and 162 of the 1999 Constitution.<\/p>\n

A Sunday statement from the Office of the Vice President, Professor Yemi Osinbajo, said, \u201cHenceforth, all receipts due to the Federal Government or any of its agencies must be paid into TSA or designated accounts maintained and operated in the Central Bank of Nigeria (CBN), except otherwise expressly approved.\u201d<\/p>\n

The statement further said: \u201cA TSA is a unified structure of government bank accounts enabling consolidation and optimal utilization of government cash resources. It is a bank account or a set of linked bank accounts through which the government transacts all its receipts and payments and gets a consolidated view of its cash position at any given time.<\/p>\n

\u201cThis presidential directive would end the previous public accounting situation of several fragmented accounts for government revenues, incomes and receipts, which in the recent past has meant the loss or leakages of legitimate income meant for the federation account.\u201d<\/p>\n

The statement said \u201cPresident Muhammadu Buhari had earlier promised state governors at the inaugural meeting of the National Economic Council, NEC, in June, that all revenues prescribed for lodgement into the federation account will be treated as such under his watch and that he will ensure strict compliance with all relevant laws on accounting, allocation and disbursement.<\/p>\n

\u201cSince then the presidency has worked with relevant agencies of the federal government to evolve this policy directive.<\/p>\n

\u201cThis directive applies to fully funded organs of government like the Ministries, Departments, Agencies and Foreign Missions, as well as the partially funded ones, like Teaching Hospitals, Medical Centres, Federal Tertiary Institutions, etc.<\/p>\n

\u201cAgencies like the CBN, SEC, CAC, NPA, NCC, FAAN, NCAA, NIMASA, NDIC, NSC, NNPC, FIRS, NCS, MMSD, DPR are also affected.<\/p>\n

\u201cFor any agency that is fully or partially self-funding, Sub-Accounts linked to TSA are to be maintained at CBN and the accounting system will be configured to allow them access to funds based on their approved budgetary provisions.\u201d\"Jonathan,<\/a>\"Delta<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

President Muhammadu Buhari has ordered all Federal Government Ministries, Departments and agencies to open a Treasury Single Account (TSA) and start paying in all government revenues, incomes and other receipts. According to the directive, this measure is specifically to promote transparency and facilitate compliance with sections 80 and 162 of the 1999 Constitution. A Sunday […]<\/p>\n","protected":false},"author":2,"featured_media":5509,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"ngg_post_thumbnail":0,"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[1],"tags":[197,376,375],"class_list":["post-5511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-mohammadu-buhari","tag-professor-yemi-osinbajo","tag-treasury-single-account-tsa"],"jetpack_featured_media_url":"http:\/\/newsroom247.com.ng\/wp-content\/uploads\/2015\/08\/Jonathan-Buhari.jpg","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4oswh-1qT","_links":{"self":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/5511","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5511"}],"version-history":[{"count":1,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/5511\/revisions"}],"predecessor-version":[{"id":5512,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/posts\/5511\/revisions\/5512"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=\/wp\/v2\/media\/5509"}],"wp:attachment":[{"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5511"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5511"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/newsroom247.com.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5511"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}