TSA hits N2.7trn

TSA hits N2.7trn
April 22 09:09 2016

The Accountant-General of the Federation, Ahmed Idris on Thursday said the amount so far collected on the Treasury Single Account,(TSA) platform is a little above 2.7 trillion naira.

Speaking in an interactive session some journalists in Abuja, Idris said that these monies belong to Federal Government Ministries, Department and Agencies, and are meant for their operations.

He clarified that the money is not meant for  sharing or for any other purposes as being speculated in some quarters.

He added that the TSA has helped government to have  full control of its resources, blocking leakages, helping it to reduce the cost of borrowing and to monitor spending in the MDAs.

He called on all organizations that have any problems on the operations of the TSA to come forward with their problems assuring that the Office of the Accountant General of the Federation is committed to resolving whatever challenges they might have in line with best practices.

The Accountant-General also assured that the Federal Government is working out modalities to ensure that payment of Federal Government workers are paid early as directed by President Muhammadu Buhari.

“There is a standing instruction from Mr. President for workers to be paid on or before 24 or 25 of every month,” he said.

He however added that compliance has been hampered by the limited resources available to Government which can only be determined after the monthly Federal Account Allocation Committee (FAAC) meeting.

According to him, government  has taken further steps to make a provision that will accommodate salary payment even before FAAC, saying this is would be given a test this month.