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Home Economy Treasury Single Account Is Constitutional for Transparency – HOS Kifasi
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Treasury Single Account Is Constitutional for Transparency – HOS Kifasi

By
Danladi I. Kifasi
-
August 11, 2015
President Muhammad Buhari
President Muhammad Buhari
Pres-Buhari His Excellency Muhammadu Buhari, President,  Federal Republic of Nigeria has approved the  establishment and operation of Treasury Single  Account for e-Collection of Government Receipts for  all Federal MDAs with effect from the date of this  circular.
  1.  To aid transparency and facilitate compliance with  sections 80 and 162 of the Constitution of the Federal Republic of Nigeria 1999 (as amended), 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 Central Bank of Nigeria (CBN), except otherwise expressly approved.
  1. For the avoidance of doubt, Ministries, Departments and Agencies (MDAs) are categorized as follows:

 

S/N Category Examples Implementation Strategy
1 MDAs fully funded through the Federal Government Budget  All Ministries, Departments, Agencies and Foreign Missions, etc.       i.        All collection from these Agencies to be paid directly into the TSA (e-Collection)ii.        Expenditure to be drawn from CRF based on Annual Budget
2 MDAs “partially funded” through the Federal Government Budget but generate additional revenues  Teaching Hospitals, Medical Centres, Federal Tertiary Institutions, etc.       i.        All Revenue Collection from these Agencies to be paid into the TSA except (Union Dues)ii.        Sub-Accounts linked to TSA to be maintained at CBN

iii.        System will be configured to allow access to funds based on approved budget

3 MDAs not funded through the Federal Budget but expected to pay operating surplus/ 25% of Gross Earnings to the CRF CBN, SEC, CAC, NPA, NCC, FAAN, NCAA, NIMASA, NDIC, NSC etc.       i.        All Collection from these Agencies to be paid into the TSA except (Union Dues)ii.        Sub-Accounts linked to TSA to be maintained at CBN

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iii.        System will be configured to allow access to funds based on approved budget

4 MDAs that are funded from the Federation Account NNPC, FIRS, NCS, MMSD, DPR.       i.        All Federation revenue generated by these Agencies to paid into Federation Accountii.        All Independent Revenue generated by these Agencies to be paid into the TSA

iii.        FGN Share of Federation Account to be paid into CRF

iv.        Statutorily approved cost of Collection to be deducted from Federation Account to meet Budgeted Expenditure

5 Agencies funded through the Special Accounts  (Levies) NSC, RMRDC, PTDF, NITDA, etc.       i.        Sub-Accounts linked to TSA to be maintained at CBNii.        System will be configured to allow access to funds based on approved budget
6 Profit oriented Public Corporations/ Business Enterprises BOI, NEXIM, BOA, Transcorp Hilton, etc. Dividends from these agencies to be paid into the TSA
7 Revenue Generated under Public Private Partnership All Incomes from PPP arrangement e.g. Production of International Passports, Seaport Concession Arrangement etc.,       i.        TSA Sub-Accounts to be maintained in CBNii.        FG portion of the collection to be paid into TSA

iii.        Partners portion of the revenue to be transferred to the partner’s account

8 MDAs with Revolving Funds and Project Accounts Drug Revolving Funds, (Teaching Hospitals, Universities) Fertilizer Revolving Fund, Roll-Back Malaria, Sure-P, etc.       i.        Project Account (Revolving Funds) to be maintained at CBNii.        Collection (IGR) from these Agencies to be paid to TSA

iii.        System will be configured to allow access to funds based on approved budget

  1. In this regard, Government has put in place effective monitoring mechanisms to ensure strict compliance. All Accounting Officers, Directors of Finance and Accounts, Directors of Internal Audit, Heads of Accounts and Heads of Internal Audit Units of MDAs and other arms of Government are enjoined to give this Circular the widest circulation and ensure strict compliance to avoid sanctions.
  1. Further enquiries on this circular should be directed to the Accountant-General of the Federation.

 

Danladi I. Kifasi, CFR, mni

Head of the Civil Service of the Federation

PRNigeria encourages institutions to be transparent in their information management as it provides news items from authoritative sources for free use by the media

 

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Kano Gov Appoints Yusuf Sharada Special Adviser on Digital EconomyKogi SEMA To Establish Emergency Operation CentreThe Passing of a Mighty Warrior by Chief Femi Fani-KayodeSGF Akume Leads Presidential Committee for Buhari’s State FuneralPolice Arrest 6 Suspected Armed Robbers in Benue, Recover Firearm, MotorcycleNorthwest Governors Mourn Buhari, Declare Tuesday Public HolidayFG Declares Tuesday Public Holiday in Honour of Late Ex-President BuhariJUST IN: FG Declares Tuesday Public Holiday to Honour BuhariWalson-Jack Inaugurates Editorial Team for Civil Service Legacy BookPolice Arrest Suspects for Human Trafficking, Rescue Victims in Anambra, Enugu, EdoCustoms Exposes Scam Over Form M Migration to B’Odogwu PlatformUPDATE: Buhari's remain for burial Tuesday 2pm - Gov RaddaYahaya Bello Mourns Passing of Buhari and Awujale of IjebulandBuhari in his Own Words By Kabir AkintayoPHOTOS: Shettima, Gbajabiamila Arrive London to Bring Buhari’s Body Home for Burial
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