President Muhammadu Buhari has ordered each and every Federal Government Ministry, Department or Agency to start paying into a Treasury Single Account (TSA) for all government revenues, incomes and other receipts.
According to the directive, this measure is specifically to promote transparency and facilitate compliance with sections 80 and 162 of the 1999 Constitution.
Henceforth, according to a statement by Laolu Akande, the Senior Special Assistant to the Vice President on‎ Media and Publicity, all receipts due to the Federal Government or any of its agencies must be paid into TSA or designated accounts maintained and operated in the Central Bank of Nigeria (CBN), except otherwise expressly approved.
A TSA is a unified structure of government bank accounts enabling consolidation and optimal utilization of government cash resources. It is a bank account or a set of linked bank accounts through which the government transacts all its receipts and payments and gets a consolidated view of its cash position at any given time.
This presidential directive would end the previous public accounting situation of several fragmented accounts for government revenues, incomes and receipts, which in the recent past has meant the loss or leakages of legitimate income meant for the federation account.
It would be recalled that President Muhammadu Buhari had earlier promised state governors at the inaugural meeting of the National Economic Council, NEC, in June, that all revenues prescribed for lodgement into the federation account will be treated as such under his watch and that he will ensure strict compliance with all relevant laws on accounting, allocation and disbursement.
Since then the presidency has worked with relevant agencies of the federal government to evolve this policy directive.
This directive applies to fully funded organs of government like the Ministries, Departments, Agencies and Foreign Missions, as well as the partially funded ones, like Teaching Hospitals, Medical Centres, Federal Tertiary Institutions, etc.
Agencies like the CBN, SEC, CAC, NPA, NCC, FAAN, NCAA, NIMASA, NDIC, NSC, NNPC, FIRS, NCS, MMSD, DPR are also affected.
For any agency that is fully or partially self-funding, Sub-Accounts linked to TSA are to be maintained at CBN and the accounting system will be configured to allow them access to funds based on their approved budgetary provisions.
‎
‘Laolu Akande
Senior Special Assistant to the Vice President
(Media & Publicity)
August 9, 2015

Source: http://www.premiumtimesng.com/news/headlines/188074-‎buhari-orders-federal-ministries-agencies-to-open-treasury-single-account.html?utm_source=&utm_medium=twitter

Slow and steady, but surely we will reach the promise land irrespective of either Wailers and metuanians like it or not.

Good one

Nice move..

nice one

The noose is tightening.
I hope others are learning and taking notes

Okay

Na so e shld be we re getting dere so dat we ca monitor. Our money

Sai baba

Humm to facilitate compliance with sections 80 and 162 of d 1999 constitution. The section Jona failed to comply with. God punish jona.. Nigeria will get there one day.

Sai Baba BuBu
And also help me tell them to close all other accounts with commercial banks just like El-Rufai did.

When they say buhari/osibAnjo order. They mean only 26 state..


Nobody who lives in the country of western Nigeria should obey that order. They are only talking about 26 states
.

So don't join them


The people of western Nigeria can't pay taxes to nigeria

http://www.punchng.com/business/business-economy/fg-moves-mdas-capital-accounts-to-cbn-2/

Please is this directive different from what Jonathan was doing under NOI??