300 MDAs fail to meet TSA deadline

Buhari

Buhari

SOME 300 agencies of the Federal Government are yet to comply with President Muhammadu Buhari’s directives to move all Federal Government accounts to the Central Bank of Nigeria (CBN) under the Treasury Single Account (TSA) policy.

The defaulting agencies are part of Federal Government’s 900 MDAs. 600 of the agencies had compiled with the deadline of September 15, according to the Accountant General of the Federation, Alhaji Ahmed Idris.
However, the number of accounts so far transferred is not yet known.

He disclosed this yesterday at the September Federation Accounts Allocations Committee (FAAC) where the sum of N442.606 billion was distributed to the three tiers of government.

A breakdown of the figures distributed indicates that the Federal Government got the sum of N177.576 billion comprising N168.623 from Statutory Allocation and the sum of N8.953 billion from VAT.

The states are to share the sum of N115.373 billion made up of 85.628 billion statutory revenue and the sum of N29.845 billion VAT proceeds while the local councils are to get the sum of N,86.829 billion, comprising N65.938 billion statutory revenue and the sum of N20.891 billion VAT revenue.
The nine oil-producing states are to share the sum N27.869 billion 13 percent derivation.



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