Reps Call For Sanctions On MDAs That Violate Treasury Single Account Policy

Channels Television  
Updated May 9, 2019
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A file photo of lawmakers during plenary.


The House of Representatives on Thursday called for sanctions against Ministries, Departments and Agencies (MDAs) of the Federal Government which do comply fully with the Treasury Single Account (TSA) policy.

Chairman Ad Hoc Committee on Treasury Single Account, Hon. Danduram Nuhu Abubakar, made this call in the committee’s report which was adopted on the floor of the Lower House.

The committee’s report investigated compliance of the MDAs with the view to ascertaining proceeds into the TSA since commencement, as well as ensuring transparency and accountability.

Hon. Abubakar Danburam, told the House that during the course of its investigation, “it was observed (that) funds belonging to the federal government to the tune of billions of naira and hundreds of millions of dollars were operated outside the TSA by the MDAs in collaboration with banks”.

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According to the committee, due to the non-compliance extra-budgetary spendings were spotted in some agencies.

In the light of their findings, the committee recommended “That the House do consider the Report of the Ad Hoc Committee on Treasury Single Account on the Need to Ascertain the Proceeds of the Treasury Single Account (TSA) to Enhance Transparency, Accountability and Good Governance and approve the recommendations therein.”

“That the Ministry of Finance, Office of the Accountant General of the Federation and the Central Bank of Nigeria should intensify efforts to enforce full implementation and compliance with TSA Policy by all Ministries. Departments and Agencies;

“That MDAs which have violated the TSA Policy should be sanctioned accordingly;

“That the Ministry of Finance and Office of the Accountant General of the Federation should be directed to publish, sanction/prosecute with immediate effect all MDAs, Private Persons, Private Organizations as well as banks where FGN Funds are hidden based on the discoveries made in the Report of the consultants engaged by the OAGF and review the compliance with the TSA:

“That there should be a legislation to provide laws to guide and strengthen the enforcement of the TSA Policy and the House should commence the process of enacting enabling laws to cater for the inadequacies of the TSA Guidelines;

“That the Ministry of Finance, OAOF and CBN should develop and propose funding arrangements with the indebted banks to fashion modalities to enable the banks refund all MDAs outstanding balances to the TSA/CRF.”

The committee’s report further stated that a form of facility window may be created by the CBN to enter into an arrangements with the Debt Management Bureau where public funds are trapped.