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FG Gives September 15 Deadline For TSA Compliance

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[caption id="attachment_1134" align="alignnone" width="624"]Nigeria President, Muhammadu Buhari[/caption]

President Muhammadu Buhari has given September 15 as the deadline for all federal ministries and agencies to comply with the Treasury Single Account (TSA) directive.

According to the Presidency, “by that deadline, all federal government revenues must go into the Central Bank Treasury Single Account (TSA), except otherwise expressly approved.”

A circular issued to all Ministries, Departments and Agencies (MDAs) of the Federal Government by the Head of the Civil Service of the Federation, Mr Danladi Kifasi, urged the MDAs to ensure strict compliance with the deadline to avoid sanctions.

The circular read, “In this regard, His Excellency, Mr President has directed that all MDAs are to comply with the instructions on the Treasury Single Account (TSA) unfailingly by Tuesday, September 15, 2015.

“Heads of MDAs and other arms of Government are enjoined to give this Circular the widest circulation and ensure strict compliance to avoid sanctions,”

On August 11, 2015, the President had ordered stoppage of multiple accounts by all federal MDAs. He ordered the operation of Treasury Single Account (TSA), into which all ministries, departments and agencies (MDAs) of government, which are funded from the Federation Account, will henceforth pay their earnings.

To ensure quick compliance with the directive, the Head of Service of the Federation, Danladi Kifasi, gave the federal sub-treasury account name and number as Accountant General: 300002095.

Some of the MDAs affected by this directive include Nigerian National Petroleum Corporation (NNPC), Central Bank of Nigeria (CBN), Security and Exchange Commission (SEC), Nigerian Ports Authority, Nigeria Customs Service (NCS), Nigeria Immigration Service (NIS) and Federal Inland Revenue Service (FIRS), among others.

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