The Accountant-General of the Federation, Alhaji Ahmed Idris has expressed satisfaction with the level of compliance by Ministries, Departments and Agencies, MDAs, on President’s directive to them to open Treasury Single Account, TSA.
Over 100 MDAs were reported to have complied with the directive before the stipulated Tuesday, September 15, 2015 deadline, especially the revenue yielding ones.
While commending the MDAs for their response in this regard, a highly impressed Alhaji Idris had affirmed “the TSA has come to stay”, adding that the compliance is an indication that Nigeria is at the threshold of a new era of transparent and accountable management of Public finances.
He also thanked all the MDAs for their cooperation, assuring them and the general public of the preparedness to ensure a hitch-free implementation and actualisation of the objective of the policy. He equally informed that appropriate sanctions await MDAs that fail to comply.
It will be recalled that Alhaji had while addressing representatives of banks who recently visited him used the opportunity to reassure the public that the implementation of the TSA policy will boost revenue collection, block leakages, ensure transparency and timely disbursement of funds to beneficiaries.
According to him, compliance to the Presidential directive on the implementation of the TSA would promote effective management of public resources, thereby ensuring cost effectiveness and accountability.
Speaking further, the AGF noted that the implementation of TSA will facilitate compliance with sections 80 and 162 of the 1999 Constitution of the Federal Republic of Nigeria as it paves way for the timely capture and payment of all revenues into appropriate accounts of government.
