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Tag: TSA

  • TSA, BVN, others save Nigeria N24.7b monthly

    President Muhammadu Buhari yesterday said about N24.7 billion was being saved monthly as a result of the implementation of Treasury Single Accounts (TSA) scheme, the Integrated Payroll and Personnel Information System (IPPIS) and the Bank Verification Number (BVN), among other measures.

    He siad the administration was serious about the fight against corruption, considering the giant strides it had recorded and the huge sums of money recovered and saved for investment in infrastructure and other sectors of the economy.

    Buhari, who spoke while declaring open the 2018 edition of the e-Nigerian Conference at the International Conference Centre, Abuja, said recently about N1.6 billion was recovered from one single account through the TSA.

    “These policy initiatives reinforce this administration’s fight against corruption by ensuring transparency and accountability in government business transactions,”Buhari said on the occasion which was attended by the Ministers of FCT, Justice, Sports, Communications, Works, Housing and Power as well as Service Chiefs and other top government officials.

    He described the theme of the conference: Promoting Digital Economy in an Era of Disruptive Technologies Through Effective Regulations as apt, noting that it would build on the previous year’s conference anchored on fostering the digital economy through local content development.

    The conference was organised by the National Information Technology Development Agency (NITDA), headed by Dr Isa Ali Ibrahim Pantami.

    Buhari said he issued Executive Order 003 and 005 to ensure that government agencies patronised locally manufactured ICT products and ensure strong commitment at strengthening the role of science and technological innovations in the development of the country.

    Buhari commended NITDA for chatting the road-map for economic diversification from oil and gas to a knowledge-based economy through information and communication technology (ICT).

    He said NITDA is expected to work with all relevant government agencies to ensure full compliance with the directive which are expected to strengthen the regulatory roles of NITDA and ensure compliance, stating that defaulters of IT Clearance among the public establishments are to be reported to government.

    He said: “We are serious about fighting corruption. We must not fail in our quest to eliminate corruption in government businesses and in the wider society.

    “The success of this administration’s Social Investment Programme (SIP), tagged as the largest and most ambitious social safety net programme in our recent history, relies heavily on the application of ICT.

    “Components of programmes such as the N-Power, Government Enterprise and Empowerment Programme (GEEP), the Home Grown School Feeding Programme (HGSFP) and the Conditional Cash Transfer (CCT) all leverage on ICT. This programme has so far benefited over 9 million Nigerians.

    “Furthermore, NITDA, in collaboration with the National Social Investment Office (NSIO), is coordinating Federal Government’s initiative of establishing eight Innovation Hubs, one in each of the six geo-political zones and one each in Lagos and Abuja.

    “The purpose of establishing these hubs is to facilitate digital capacity building for immediate employment, entrepreneurial skills development, job and wealth creation. All these are aimed at promoting the digital economy in an era of disruptive technology through effective regulations.”

     

  • Atiku visits bomb blast victims, donate N10m

    Former Vice President Atiku Abubakar on Monday visited victims of the Mubi suicide attack receiving treatment at the Federal Medical Centre (FMC), Yola, where he donated N10 million to the hospital Paupers’ Fund.

    Abubakar told newsmen after he was conducted round the hospital wards to console the victims that he was satisfied with the hospital’s effort in the treatment of the patients as well as their response.

    The News men recalls that the twin bomb blasts occurred a week ago, killing scores of people and injuring many others.

    The first blast was said to have occurred at the mosque located in the market, killing all members of the congregation before the second one destroyed another part of the market.

    Atiku applauded the commitment of the management of the hospital and the committee it set up to manage the Paupers’ Fund meant for the treatment of underprivileged persons.

    “I once donated N10 million to the fund and decided to make another donation of N10 million today because I am quite satisfied with the way the fund is being managed.

    “Patients that cannot afford to get medical treatment can benefit from the fund.”

    Abubakar underscored the need to recruit more security personnel, especially policemen, to boost internal security.

    “Happily, I have heard an announcement that more policemen are being recruited though not sufficient.

    Read Also: Atiku condemns Adamawa bombing, says terrorists are enemies of civilization

    “There is also the need to look into the training of security personnel so that they can confront the current challenges.”

    Also speaking, the Chief Medical Director of the hospital, Prof. Muhammad Auwal, thanked the former vice president for his support to the hospital.

    “He is the major financier of our Paupers’ Fund and I want to put it on record that the fund, since inception, had financed the treatment of about 300 patients, including those with major surgeries.

    “The management of the hospital has no access to the fund and there is no exchange of money at all; we give the service and the fund pays directly into our TSA,” Auwal said.

    NAN

     

  • TSA accruals now N 8.9tr, says Adeosun

    AS at February 9, the cash in the Treasury Single Account (TSA) stood at N8.9 trillion, Finance Minister Mrs. Kemi Adeosun said yesterday.

    The minister made the disclosure at an investigative public hearing into the money accruing into the TSA by the House of Representatives.

    Represented by the Accountant-General of the Federation, Ahmed Idris, Mrs. Adeosun told the lawmakers that the Federal Government has been saving N480 billion annually since it introduced the TSA policy in 2015.

    Prior to the implementation of the policy, over N70 billion cash belonging to the government had been lost to leakages through 17,000 accounts being operated by Ministries, Departments and Agencies (MDAs).

    According to her, the revenue was remitted through 1,634 MDAs’ main accounts and 3,118 sub-accounts captured in the TSA as at March 22.

    According to her, President Muhammadu Buhari gave approval for the exemption of some accounts, including the West African Examination Council (WAEC) and the Joint Venture Accounts of Nigerian National Petroleum Corporation (NNPC).

    Mrs. Adeosun explained that the entities were exempted because of the other partners involved in the operations of the accounts of the affected agencies.  The accounts are being operated with certain Deposit Money Banks (DMBs) Adeosun explained.

    The minister said a committee was set up to monitor the performance of the TSA policy to avoid its manipulation. She said the committee, which had submitted its interim report, has a mandate to conclude and submit its final report within a month.

    She told the lawmakers that the policy became effective in compliance with the provisions of Sections 80 and 162 of the 1999 Constitution (as amended) and enforced through circular with Ref. No: 428/S1/120 of 7th August, 2015.

    The constitutional provisions empower the Central Bank of Nigeria (CBN) to compel erring MDAs to comply with the TSA policy, she added.

    Responding to questions on the security and ownership of the various Information & Communication Technology (ICT) public finance platforms including Remita, GFMIS and IPPIS, the minister assured that necessary measures have been put in place to ensure that the independent consultants that provided the platforms had no access to the security code.

    The ad-Hoc Committee mandated the CBN to provide details of the money realised from the charges on in-bound and out-bound payments into the TSA within 24 hours.

    It also directed the minister to furnish it with details of the amount proposed in the budget within 24 hours.

    On the N7.6 billion refund to the MDAs through the CBN, the minister said that the amount was refunded by SystemSpecs in line with the directive of the Senate during the investigative hearing it staged in 2016.

    SystemSpecs, she said, has not been paid its due charges for services rendered for over two years, she added.

    The AGF said he personally requested for the list of MDAs that the Auditor-General wanted to audit and provide the access, noting that he had advised the Auditor-General on the need to adopt an ICT platform.

    According to him, the N7.6 billion was approved and paid by the CBN to the MDAs through a platform called T24 without his approval.

    SystemSpecs’ Executive Director, Deremi Atanda, explained that in the agreement signed in 2011 by the CBN, the service provider and other partners get 60 per cent. The apex bank, she said, gets 40 per cent of the charges.

    The CBN Governor, Godwin Emefiele, was represented by the Director, Banking & Payments System Department, Abubakar Kure.

    According to him the Federation Account gets revenue accrued from the 13 Joint Ventures in conjunction with other partners, saying that the various amounts reflected in the operational banks’ details were deposited as Cash Call by the NNPC and other operators.

    In his remarks, ad-Hoc Committee Chairman Abubakar Damburrau, urged the NNPC Group Finance Director, Isiaka Abdukrasak, to ensure the attendance of the NPDC managing director at the next hearing.

    He said that the NNPC must also present within the next 48 hours, details of the monies accrued into the Brass Liquefied Natural Gas (LNG) account

    The committee threatened to issue a warrant of arrest to compel his appearance should the NPDC chief failed to show up at the committee’s next hearing session.

  • TSA accruals now N8.9tr, says Adeosun

    The Treasury Single Account (TSA) has yielded over N8.9 trillion revenue, the Minister of Finance, Mrs. Kemi Adeosun, said yesterday.

    She spoke at the investigative public hearing into the TSA by the House of Representatives.

    The minister was represented by the Accountant General of the Federation, Ahmed Idris,  who told the lawmakers that N480 billion was being saved yearly since the introduction of the TSA policy in 2015 under the President Muhammadu Buhari administration.

    Prior to the implementation of the TSA policy, over N70 billion government fund was lost to leakages through 17,000 accounts being operated by all the MDAs, she said.

    Accirding to her,  the revenue was remitted through 1,634 MDAs’ main accounts and 3,118 sub-accounts captured in the TSA as at 22nd March, 2018.

    Approval for the exemption of some accounts was given by Mr. President, including West African Examination Council (WAEC) and Joint Venture Accounts of Nigerian National Petroleum Corporation (NNPC) because of other partners involved in the operations of the accounts, she said.

    The accounts are being operated with certain Deposit Money Banks Adeosun explained.

    The Committee set up to monitor performance of the TSA policy, in a bid  to avoid the manipulation of the TSA, had submitted its interim report and expected to conclude and submit its final report within a month.

    The minister told the lawmakers that the policy became effective in compliance with the provisions of Sections 80 and 162 of the 1999 Constitution (as amended) and enforced through circular with Ref. No: 428/S1/120 of 7th August, 2015.

    The CBN used its enforcement power to compel erring MDAs to comply with the TSA policy, she added.

    While responding to questions on the security and ownership of various ICT public finance platforms including: Remita, GFMIS ad IPPIS, the Minister assured that necessary measures have been put in place to ensure that the independent consultants engaged for provision of the platforms do not have access to the security code.

    In response to inquiry over the cost associated with the implementation of the TSA policy, she noted that fund was provided in the 2017 Appropriation Act and 2018 budget estimates presently before the National Assembly.

    The Ad-Committee mandated the CBN to provide details of the money realised from the charges on in-bound and outbound payments into the TSA within 24 hours, while the Minister is to furnish details of the amount proposed in the budget within 24 hours.

    On the N7.6 billion refund paid back to the MDAs through the CBN, the Minister while responding to a question revealed hat the amount was refunded by SystemSpecs in line with the directive of the Senate during the investigative hearing conducted in 2016.

  • TSA accruals now N 8.9tr – Adeosun

    The Minister of Finance, Kemi Adeosun, said on Monday the Treasury Single Account (TSA) total accruals stand at N8.9 trillion as at February 9.

    She made the disclosure at the House of Representatives investigative hearing into the money accrued into the TSA.

    The minister, who was represented by the Accountant General of the Federation, Ahmed Idris, told the lawmakers that a total sum of N480 billion is saved annually since the introduction of the TSA policy in 2015.

    Prior to the implementation of the TSA policy, over N70 billion was lost to leakages through 17,000 accounts operated by the Ministries, Departments and Agencies (MDAs), she said.

    According to her, the revenue was remitted through 1,634 MDAs’ accounts and 3,118 sub-accounts captured in the TSA as at March 22.

    Adeosun said: “Approval for the exemption of some accounts was given by Mr. President, including West African Examination Council (WAEC) and Joint Venture Accounts of Nigerian National Petroleum Corporation (NNPC) because of other partners involved in the operations of the accounts.”

    She said the accounts are being operated with certain Deposit Money Banks (DMBs).

     

     

  • TSA: INTELS pays N13.2b to NPA

    TSA: INTELS pays N13.2b to NPA

    INTELS Nigeria Limited has paid $42.6 million (N13.2 billion) to the Nigeria Ports Authority (NPA)’s Single Treasury Single Account (TSA), NPA Managing Director Ms Hadiza Bala Usman said yesterday.

    She told members of the House of Representatives Ad Hoc Committee probing the strain in relationship between the two organisations, that the company after receiving termination notice from the Agency, wrote to apologise for not complying with the TSA and the new sharing formula.

    She said as a result, INTELS has paid the sum $28.1million into the Agency’s TSA account with a notice of additional $14.5million said to have been paid, but yet to be confirmed by the NPA.

    “The implementation of TSA by the Federal Government compelled the authority to remit revenue generated directly into government coffers while NPA in turn pays agency fees of 28 percent of whatever was generated to INTELS,” she said.

    She said according to NPA’s calculation of $4 million per month as government’s share, based on the previous agreement, what accrued to NPA would be $48 million.

    Usman said NPA has two layers of relationship with INTELS namely management agency where it collects revenues on behalf of NPA and keeps 28 percent and port infrastructure development on the basis of which INTELS constructed and manages the Onne Port in Rivers State.

    She explained that the initial agreement gave INTEL the powers to generate and keep 28 percent of revenue collected on behalf of NPA.

    “The NPA under the new management had to come up with a new draft that incorporated a sharing formula in a model that complies with the TSA, which was why we said they should start remitting directly to the TSA while the NPA pays its 28 percent agency fees,” she added.

    The agreement, according to her, expires in 2020, which makes it 10 years.

  • TSA: Buhari govt saves N24.7bn monthly

    TSA: Buhari govt saves N24.7bn monthly

    The All Progressives Congress (APC)- led federal government has received high performance ratings in the management of the nation’s economy, even as the government has continued to save up to N24.7 billion monthly as a result of Treasury Single Account (TSA) policy.

    A professor of Economics from the Nassarawa State University Uche Uwaleke who gave an in-depth assessment of the achievements of President Muhammadu Buhari within the last two and half years in office, also revealed that about N108 billion has been saved from removal of maintenance fees payable to banks before TSA.

    Speaking yesterday in Abuja at the week-long leadership training programme organised under the auspices of the National Committee of Buhari Support Groups (NCBSG) for its coordinators nationwide, prof. Uwaleke said the sudden and unexpected drop in crude oil price from a peak of US$114.6-O/bbl in June 2014 to under US$30] bbl by February 2016 created financial crises for the government.

    “Effective implementation of the Treasury Single Account, entrenching transparency and accountability. N108 billion has been saved from removal of maintenance fees payable to banks before TSA. The nation is being saved N24.7 billion monthly with the full implementation of the TSA and implementation of the Bank Verification Number (BVN), thus tackling corruption by plugging loopholes for siphoning of public fund and tracking of illicit funds through multiple accounts

    According to him, Buhari led administration has expended over N1.2 trillion on capital/infrastructure projects nationwide last year was a milestone in the nation’s history.

    “Improvement in transport infrastructure (rail and road); construction work ongoing on the Lagos-lbadan Expressway, renovation of Abuja international Airport runway, completion of Abuja Kaduna Railway among others.

    “Support to states: Bailout of cash crunch states; about N689 billion to 27 states of the federation to pay salaries in 2015. Complete refund of Paris loan deductions to states (unprecedented) played a part.”

     

  • Reps give Intels 24- hour ultimatum to remit FG’s revenue to TSA

    Reps give Intels 24- hour ultimatum to remit FG’s revenue to TSA

    The House of Representatives on Wednesday condemned Intels Nigeria Limited for undermining the Treasury Single Account (TSA) by failing to remit the Federal Government’s revenue at its disposal as and when due.

    Intels was alleged to have refused to pay into TSA government share of pilotage service contract it carried out on behalf of the Nigerian Ports Authority (NPA) for 24 months.

    Consequently, Intels was mandated to provide full details of the amount owed federal government within 24 hours.

    The lawmakers described the company’s action as unacceptable and have directed its management to immediately remit the multi-million dollar revenue accrued from pilotage service contract into the TSA.

    The House ad hoc Committee probing non-compliance with the TSA also directed Intels to pay interests accrued on the fund since November 2016 without further delay.

     

  • Only 18 states have complied with TSA, says NGF

    Only 18 states have complied with TSA, says NGF

    NO fewer than 18 of the 36 states of the federation and the Federal Capital Territory, FCT, Abuja, may have fully complied with the Treasury Single Account (TSA) mandate of the federal government, The Nation has learnt.

    A study conducted by the Nigeria Governors’ Forum Secretariat across the 36 states of the federation to determine the level of implementation of a centralised TSA in each state, revealed that not all the states have adopted the policy regime.

    The TSA is a financial policy in use in several countries all over the world. It was introduced by the federal government in 2012 to consolidate all inflows from all agencies of government into a single account at the Central Bank of Nigeria. It however came into effect on August 11, 2015.

    The apex bank had subsequently released Operational Guidelines for the use of TSA by state governments last year in accordance with its powers, as provided in the CBN Act 2007, Section 47, sub-section 2 (2d).

    According to the CBN, the aim of the guidelines is to provide state governments with a clear framework to support their successful implementation of the TSA initiative.

    This, it says, will be “based on standardised banking arrangements, operational processes and information technology infrastructure. The guidelines also provide that government agencies will not operate any bank account under any guise outside the purview and oversight of the treasury.

    In addition, each state government is required to inform the CBN governor of its decision to introduce the TSA scheme, detailing the state’s preferred TSA model and its level of preparedness.

    Besides, the CBN mandated state governors and Heads of Ministries, Departments and Agencies (MDAs) to subsume their personal interests under the greater needs of their states and citizens just as it reckoned that the present insolvency of some states will be reduced if they adopt the TSA policy.

    However, investigation by The Nation revealed that only about 18 of the states had fully complied with the TSA mandate with others yet to operationalise it.

    Confirming this development, a source at the NGF, who asked not to be named because he was not authorised to speak for the body confided in The Nation that majority of the states were still working out finer details almost one year after the TSA guidelines were released.

    According to the source, Several attempts to get the Acting Director, Corporate Communication, CBN, Mr. Isaac Okoroafor to give an update on TSA compliance across the states as at press time were futile as he did not return calls as well as respond to text messages sent to his mobile phone.