The Accountant General of the Federation (AGF) Ahmed Idris has said that almost all agencies have met the deadline.
While commending all the ministries, departments and agencies (MDAs), which compiled with the presidential directive on the transition to the Treasury Single Account (TSA) with the Central Bank of Nigeria (CBN), in view of the September 15 deadline, he revealed that sanctions would be meted out to any erring MDA.
A statement by the spokesperson in the Office of the AGF, Mrs. Kenechukwu Offie, said: “Idris while expressing satisfaction with the level of compliance affirmed that the Treasury Single Account has come to stay,” adding that compliance was indicative that Nigeria was at the threshold of a new era of transparent and accountable management of public finances.
The AGF thanked all the MDAs for their cooperation, assuring them and the general public of the preparedness to ensure a hitch-free implementation that will bring about the actualization of the objective of the policy.
The statement added that at the close of business on Tuesday, September 15, almost all MDAs, especially the revenue yielding ones had complied with the presidential directive to transit to the TSA.
President Muhammadu Buhari had recently given all the MDAs a September 15 deadline to comply with the Treasury Single Account directive.
The directive requires all the MDAs to pay all revenues and monies accruing to the government into a federal sub-treasury account maintained by the Central Bank of Nigeria.