Single Treasury Account: Heads of Agencies Risk Jail
President Muhammadu Buhari has set a deadline of Tuesday, September 15, 2015 for full compliance with his directive that all revenue due to the Federal Government or any of its agencies must be paid into the Treasury Single Account (TSA) or designated accounts maintained and operated in the Central Bank of Nigeria (CBN), except otherwise expressly approved.
Agencies in this category are Nigeria Ports Authority, NIMASA, NNPC, Federal Inland Revenue Service and other revenue-generating agencies.
A circular issued to all Ministries, Departments and Agencies of the Federal Government by the Head of the Civil Service of the Federation, Mr. Danladi Kifasi urged the MDAs to ensure strict compliance with the deadline to avoid sanctions.
The circular – HCSF/428/S.1/125 of September 4, 2015 noted that a number of MDAs were yet to comply with Circular Ref. No. HCSF/428/S.1/120 of August 7, 2015 which conveyed President Buhari’s original directive on the payment of all Federal Government revenue into a Treasury Single Account.
“In this regard, His Excellency, Mr. President has directed that all MDAs are to comply with the instructions on the Treasury Single Account (TSA) unfailingly by Tuesday, September 15, 2015.
“Heads of MDAs and other arms of Government are enjoined to give this Circular the widest circulation and ensure strict compliance to avoid sanctions,” Mr. Kifasi wrote.