The Federal Government on Tuesday said that about 600 out of its 900 Ministries, Departments and Agencies had so far complied with the directive on the Treasury Single Account.
This means that about 300 of the MDAs missed the September 15 deadline set by the government for all the MDAs to comply with the new policy.
The TSA is a platform that unifies all government accounts by ensuring that all monies accruing to the state are kept with the Central Bank of Nigeria.
The Accountant-General of the Federation, Alhaji Ahmed Idris, while giving an update on the exercise shortly after this month’s Federation Accountant Allocation Committee meeting, said the process of compliance was slow at the beginning owing to what he described as “teething problems.”
He said despite the challenges at the beginning, the exercise had recorded huge success.
Idris said that while 600 agencies of government had fully complied with the directive, the others were at different stages of compliance.
The final figure of the agencies that have moved their accounts from commercial banks to the CBN, according to him, will emerge after the central bank has concluded work on the new policy.
He said contrary to reports by some media outfits (The PUNCH not included) that some MDAs had been exempted from complying with the directive, the Federal Government had not excluded any of its agencies from the exercise.
Idris said, “The TSA is in place and there is a clear-cut directive from the government that all the MDAs without exception must comply. My office is working closely to enlist and enrol the MDAs so that they can be able to access and utilise their resources. This policy is to make all the MDAs to be effective and operational.
“We experienced some teething problems at inception, but they are easing off now. The deadline stood, and as of today (Tuesday), 600 MDAs out of 900 MDAs have so far complied.
“The accounts are still ongoing at the CBN and at the end, we will know the number of MDAS that have complied.”
Meanwhile, allocations from the Federation Account to the three tiers of government dropped by N69.19bn from N511.79bn in July to N442.6bn in the month of August.
The Permanent Secretary, Federal Ministry of Finance, Mrs. Anastacia Nwaobia, said while briefing journalists at the end of the FAAC meeting that the N442.6bn was shared under three distributable sub heads.
They are statutory allocation, N369.1bn; Value Added Tax distribution, N62.17bn; and refund by the Nigerian National Petroleum Corporation, N6.3bn.
Out the amount shared under statutory allocation, the Federal Government received N168.6bn, representing 52.68 per cent; the states got N85.52bn or 20.6 per cent; while the local governments got N65.93bn.
Similarly, the sum of N27.87bn was allocated to the nine oil producing states based on the 13 per cent derivation principle.
For VAT allocation, Nwaobia said the Federal Government received N8.95bn, or 15 per cent; the 36 states, N29.84bn; while the 774 local governments received the sum of N20.89bn.
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