President Muhammadu Buhari Meets With His Predecessor Secretly At The Villa And Later Orders MDAS To Remit All FG Revenue To A Single Account
President Muhammadu Buhari has met secretly in Aso Villa with his predecessor, Dr. Goodluck Jonathan, as he continued his consultation with former leaders. Information from Villa sources said the meeting held Thursday night.
The meeting took place inside the President’s official residence, confirmed Special Adviser to the President on Media and Publicity, Mr. Femi Adesina. Details from the Villa indicate that less than 24 hours afterwards, President Buhari also met behind closed doors with Olusegun Obasanjo at same venue.
No details of their discussions were available though his meeting with Jonathan was much more closely guarded unlike that with Obasanjo. Meanwhile, as part of measures to promote transparency, President Muhammadu Buhari has ordered Federal Ministries, Departments or Agencies MDAs to start remitting all incomes into a Treasury Single Account (TSA) According to the directive, the measure is specifically to promote transparency and facilitate compliance with Sections 80 and 162 of the 1999 Constitution.
“Henceforth, 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 statement signed by Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, read in part.
The statement explained that 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.
According to the statement “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”.
“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”.
It would be recalled that President Muhammadu Buhari had earlier promised, at the inaugural meeting of the National Economic Council (NEC) in June, that all revenues prescribed for lodgment 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.
-Tony Ailemen, Abuja