We saved N2.2trn using TSA – PMB

President Muhammadu Buhari revealed his administration has so far saved 2.2 trillion naira using the Treasury Single Account (TSA).

 

The President made this disclosure while interacting with a cross section of the Nigerian community in the United Kingdom on the side-line of the Supporting Syria Conference in London.

LEADERSHIP recalls that President Buhari last year October directed that all revenues due to the Federal Government or any of its agencies must be paid into the Treasury Single Account (TSA) or designated accounts maintained and operated in the Central Bank of Nigeria (CBN) .

According to the president this measure is specifically to promote transparency and prevent the loss or leakages of legitimate income meant for the federation account.

President Buhari faulted the past administration for operating several accounts with which they siphoned money belonging to Nigerians vowing not to relent in the fight against corruption.

He said that he would make every Nigerian accountable and that money recovered so far can fund the country’s deficit and infrastructure development.

He said,“When we discovered that we were already in trouble, we tried to enforce the TSA. This government did not initiate it, it was the previous government, but it was so unpopular to the previous government.

“For its own reasons, it couldn’t impose it, but when we came and we found out that we were broke, we saw that this as the way to do it.

“We discovered that the NNPC had more than 45 accounts, the ministry of defence and the military had more than 70 accounts; tell me which of the accounts to trace every year.

“So we enforced TSA, we said there must be TSA, and let me tell you by the end of December coming to January this year, last month we mopped up more than N2.2 trillion.”

 

Culled from LEADERSHIP NEWSPAPER

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