FG Nets N2tn Through TSA | Independent Newspapers Limited
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FG Nets N2tn Through TSA

Posted: Apr 25, 2016 at 6:40 pm   /   by   /   comments (0)


The Federal Government has generated over N2 trillion through the Treasury Single Account (TSA) since the commencement of the policy.

Alhaji Lai Mohammed, Minister of Information, made the disclosure at a Town Hall meeting held on Monday in Lagos.

The TSA, a policy implemented by President Muhammadu Buhari’s administration since 2015, is meant to consolidate all inflows from ministries, departments and agencies (MDAs) by way of deposit into commercial banks, traceable into a single account at the Central Bank of Nigeria (CBN).

“This administration has decided to plug all financial loopholes through the Treasury Single Account, into which over N2 trillion has accrued so far.

“Funds that ordinarily would have gone into private pockets are now finding their way into the public treasury, to be used for the benefit of all.

“Also, about 36,000 ghost workers have been discovered and weeded out, saving the government millions of naira,” the minister said.

Mohammed added that 500,000 graduates would be employed and trained as teachers, just as 370,000 non-graduates would be trained and employed, while one million people would be granted loans to set up small businesses.

He also noted that there would be conditional cash transfer to the most vulnerable people; school feeding targeting 4.5 million school children; as well as bursaries/scholarships for STEM (Science, Technology, Engineering and Mathematics) students.