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President Muhammadu Buhari

FG Rakes In Over N10tr From TSA

The Federal Government has raked in over N10 trillion from the implementation of the Treasury Single Account (TSA) from 1,674 ministries, departments and agencies (MDAs).

Office of the Accountant General of the Federation (OAGF) made this disclosure on Thursday at Peer Review Mechanism of Ministries Departments and Agencies (MDAs) 2019 in Abuja to the Head of Civil Service of the Federation.

The OAGF while making its presentation, stated that under TSA, the government has been able to save over N45 billion monthly in interest on Ways and Means than it used to pay before the full implementation of the TSA.

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It was also disclosed that N50 billion revenue from funds have so far been mopped from commercial banks as a result of TSA implementation.

The OAGF also stated that “from available information, the status of the budget implementation in 2017 was 67%.”