Lawmakers partner with CBN on Single Account

Lawan Hamidu, Abuja

The House of Representatives is to liaise with the Central Bank of Nigeria, CBN and other relevant agencies to ascertain the actual money realised so far from the implementation of the Treasury Single Account, TSA.

The resolution was contained in a motion presented at the House Plenary on Wednesday, which was unanimously adopted, seeking for investigation into the accrued proceeds from the policy implementation.

The lawmakers, therefore, agreed to constitute a committee that would also ascertain government’s plans for spending the money realised, the various government agencies from which the funds were obtained and a comprehensive list of abandoned projects from which such funds accrued.

The sponsor of the motion, Adamu Kamale, while presenting the motion lamented that some government establishments are still left out of the TSA despite the commitment of the current administration to combat corrupt practices and eliminate waste in public finances.

Kumale said, “The introduction of the TSA has helped to improve the process of collection of revenues and will engender prompt settlement of matured government commitments which may eventually facilitate project completion and service delivery on schedule.”

The TSA is a government’s financial policy being implemented to consolidate all inflows from Ministries, Departments and Agencies into one single account aimed at ensuring prudent management of public funds.