The Federal Government has directed all Ministries, Departments, and Agencies (MDAs) to submit statements of their accounts held in commercial banks, as part of efforts to enforce compliance with the Treasury Single Account (TSA) policy.
The directive, issued through the Office of the Accountant-General of the Federation (OAGF), follows reports that several MDAs continue to operate accounts in commercial banks despite repeated warnings against such practices.
A memo signed by the Accountant-General of the Federation, Shamseldeen Ogunjimi, and obtained on Tuesday, expressed concern over what it described as the “persistent violation” of the TSA framework.
“It has been observed with dismay that funds belonging to the Federal Government are still domiciled in several accounts held with commercial banks, contrary to existing circulars and the operational framework of the Treasury Single Account,” the memo read.
Ogunjimi, citing a directive from the Minister of Finance, ordered all Directors and Heads of Finance and Accounts across MDAs and government-owned enterprises to submit detailed statements of all accounts—active, dormant, and closed—maintained in commercial banks over the past six months.
The statements, according to the memo, must include account names, numbers, bank branches, and current balances.
“This directive takes immediate effect and must be treated with the utmost urgency, as it is part of ongoing efforts to strengthen fiscal discipline and uphold the integrity of the TSA framework,” Ogunjimi stated.
The government had, in February, restated its commitment to the TSA policy, warning MDAs against maintaining commercial bank accounts that contravene the system’s objectives.
At the time, the OAGF had directed Federal Pay Officers to monitor compliance and ensure that MDAs operating in various states do not open or use any commercial bank account outside the TSA domiciled with the Central Bank of Nigeria (CBN).
The TSA policy, introduced in 2015, was designed to consolidate all government revenues into a single account at the CBN to promote transparency and accountability in public finance management. Orders MDAs to Submit Bank Records Amid Probe of TSA Breaches
The Federal Government has directed all Ministries, Departments, and Agencies (MDAs) to submit statements of their accounts held in commercial banks, as part of efforts to enforce compliance with the Treasury Single Account (TSA) policy.
The directive, issued through the Office of the Accountant-General of the Federation (OAGF), follows reports that several MDAs continue to operate accounts in commercial banks despite repeated warnings against such practices.
A memo signed by the Accountant-General of the Federation, Shamseldeen Ogunjimi, and obtained on Tuesday, expressed concern over what it described as the “persistent violation” of the TSA framework.
“It has been observed with dismay that funds belonging to the Federal Government are still domiciled in several accounts held with commercial banks, contrary to existing circulars and the operational framework of the Treasury Single Account,” the memo read.
Ogunjimi, citing a directive from the Minister of Finance, ordered all Directors and Heads of Finance and Accounts across MDAs and government-owned enterprises to submit detailed statements of all accounts—active, dormant, and closed—maintained in commercial banks over the past six months.
The statements, according to the memo, must include account names, numbers, bank branches, and current balances.
“This directive takes immediate effect and must be treated with the utmost urgency, as it is part of ongoing efforts to strengthen fiscal discipline and uphold the integrity of the TSA framework,” Ogunjimi stated.
The government had, in February, restated its commitment to the TSA policy, warning MDAs against maintaining commercial bank accounts that contravene the system’s objectives.
At the time, the OAGF had directed Federal Pay Officers to monitor compliance and ensure that MDAs operating in various states do not open or use any commercial bank account outside the TSA domiciled with the Central Bank of Nigeria (CBN).
The TSA policy, introduced in 2015, was designed to consolidate all government revenues into a single account at the CBN to promote transparency and accountability in public finance management.