Treasury Single Account Deadline Ends

The deadline of September 15 given to Ministries Departments and Agencies (MDAs) in Nigeria to maintain a Treasury Single Account is ending on Tuesday.

President Muhammadu Buhari had on September 7 set a deadline of September 15 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.

A circular issued to all Ministries, Departments and Agencies (MDAs) 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.

Kifasi re-directed that all receipts due to the Federal Government or any of her agencies shall be paid into the TSA as follows: Account Name: Accountant General (Federal Sub-Treasury), Account No. 3000002095 maintained in the CBN, except otherwise expressly approved.

There have been mixed reactions about the possibility of adhering to the deadline, but the Accountant General of the Federation, Mr Ahmed Idris, on Friday lashed out at Ministries Departments and Agencies (MDAs) who had suggested that the September 15 deadline to maintain a Treasury Single Account was unrealistic.

Mr Idris assured the Federal Government that the deadline would not only be met, but implemented.

He emphasised that implementation guidelines had been developed and would soon be made available to all MDAs, and to the general public.

TO escape the wrath of President Muhmmadu Buhari, some of the over 100 Ministries, Departments and Agencies of government (MDAs) were in a rush, yesterday, to beat the deadline to open Treasury Single Accounts, TSA, with the Central Bank of Nigeria (CBN).

Leading parastatals that had complied with the directive, as of press time, yesterday, included the Customs Service, Federal Inland Revenue Service (FIRS), Nigeria Ports Authority (NPA), Nigeria Maritime Administration and Safety Agency (NIMASA),  Federal Capital Territory Administration (FCTA),  Nigerian Airspace Management Agency (NAMA) and  Nigerian Shippers Council (NSC).

It was not clear, yesterday, if the Nigerian National Petroleum Corporation (NNPC), the country’s main revenue generator, has complied with the directive

MDAs rushing to beat deadline – CBN

Speaking on the issue, yesterday, CBN Director, Corporate Communication, Alhaji Ibrahim Muazu said the MDAs are responding, adding that by the end of today all of them would have complied. His words:  “There is a rush to meet the deadline tomorrow (today). They have been on it. The statement that they are rushing to beat the deadline cannot be wrong. They have been trying to meet the deadline. The CBN expects full compliance by today.”

FIRS has no issue with TSA

The FIRS is one of the agencies that have complied according to its Director, Corporate Communication, Mr. Emmanuel Ebota. He said: ‘’FIRS has no issue with  the new directive, right from the start, its account has been with the CBN to which revenue is remitted on a regular basis.”

We’re are TSA compliant – NIMASA

Director-General of NIMASA, Mr Haruna Baba Jauro, during a courtesy visit to the corporate head office of Vanguard, yesterday, said his agency has fully complied with the presidential directive.

“NIMASA is fully compliant. We have gone to the CBN, they have opened our account. We have given our banks the mandate and we have provided all our banks with the platform. We have no issue with that. The only issue we have is tomorrow, our staff will have to go to Abuja again to clarify the issue of how to get our money out. That is where we are,” he said

NCS complies with FG single account policy

The Nigerian Customs Service, NCS, yesterday, also disclosed that it has fully complied with the policy. Public Relations Officer of the Service, Deputy Comptroller Wale Adeniyi in a phone conversation with Vanguard said that the NCS was one of the first organizations in the country to comply with the policy.

“The importers do online declaration and online payment as well. The banks do online transaction to the Customs Service account in the apex bank. We have already complied with the new directive,” he explained.

TSA: We have complied 100%  –  FCTA

The Federal Capital Territory Administration, FCTA disclosed, yesterday, that it has complied 100 per cent with the directives.

In a text message to Vanguard, the Chief Press Secretary, FCTA, Sule Muhammad said: “As an obedient servant, FCTA has complied with the directive 100 per cent.”

NPA, NEITI, Immigration also comply

Contacted, Captain Ihenacho Ebubeogu, General Manager, Public Affairs, NPA, told  Vanguard that the Nigerian Ports Authority complied with the directive more than three weeks ago, adding that the authority has directed its bankers to remit all its revenue to its account with the CBN. ‘That is an old story, NPA complied about a month ago,’’ he stressed.

Similarly, the Nigeria Extractive Industry Transparency Initiative, NEITI, said it has fully complied with the directive.

Mr. Ogbonnaya Orji, Director, Communications, NEITI, stated that the agency supports the TSA initiative and has complied with the policy.

According to him, this becomes necessary as the policy is at the crux of NEITI’s campaign for transparency and prudent management of the country’s resources.

He explained that the policy of the Treasury Single Account is a welcome development and that NEITI would make legitimate effort to see that the policy works.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s