The office of the Accountant General of the Federation said that all Federal Government’s Ministries, Departments and Agencies (MDA’s) maintaining accounts with commercial banks are in total disregard of the presidential directive on Treasury Single Account (TSA) as communicated through the Head of Civil Service of the Federation.

Mr. Awodiji Oluwafemi, a representative from the office of the Accountant General of the Federation, said this during TSA Sensitization Workshop of the North East Zone in Gombe State.

He said that all MDAs, Deposit Money Banks (DMB) and the general public that, except with the express written exemption of Mr. President adding that the TSA covers all funds in both local and foreign currencies, under the control of all MDA’s of the Federal Government irrespective of status and source of funding including but not limited to budgetary and extrabudgetary funds, donor funds, grants, proceeds of debt, retained revenue, internally generated revenue, Public-Private Partnerships (PPP), Special Purpose Vehicles (SPVs), Joint Ventures (JVs), Parastatals, Commissions, Corporations, limited liability companies and registered companies among others.

“No MDA is permitted under the extant TSA Guidelines to maintain any account with DMBs in whatever guise without the express approval of the President” – Oluwafemi said.

He also warned that all MDA’s and entities owned by the Federal Government to close all DMB accounts being currently operated whether in local or foreign currency and transfer the balances to the Federal Government TSA Account with the Central Bank of Nigeria, any fund not transferred shall be deemed as hidden and forfeited.

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