300 MDAs Fail To Comply With TSA Directive | Independent Newspapers Limited
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300 MDAs Fail To Comply With TSA Directive

Posted: Sep 23, 2015 at 4:57 pm   /   by   /   comments (0)

Some 300 Federal Government Agencies have failed to comply with the September 15 deadline for Treasury Single Account (TSA) compliance issued by President Muhammadu Buhari.

The TSA directive seeks to properly monitor government revenues from Ministries, Departments and Agencies (MDAs) to ensure transparency.

The Central Bank of Nigeria Governor, Godwin Emefiele, had also been ordered to manage the account.

However, recent report indicates that 300 agencies were yet to comply with the directive, leaving 600 others already moved revenues to the CBN before the September 15 deadline.

Accountant General of the Federation, Alhaji Ahmed Idris, disclosed this 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 amount distributed shows that the Federal Government got N177.576 billion comprising N168.623 from Statutory Allocation and N8.953 billion from Value Added Tax (VAT).

The states are to share N115.373 billion made up of 85.628 billion statutory revenue and N29.845 billion VAT proceeds while the local governments are to get N86.829 billion, comprising N65.938 billion statutory revenue and N20.891 billion VAT revenue.

The nine oil-producing states are to share N27.869 billion which represents 13 per cent derivation.