*15 September is the last day of grace

President Buhari: gives ultimatum on TSA compliance

Nigeria’s Federal Government agencies, ministries foot-dragging on complying with paying government income in a designated  Treasury  Single Account with Central Bank of Nigeria, now have eight days of grace to comply or risk sanctions.

President Muhammadu Buhari has set a deadline of Tuesday, September 15, 2015 for full compliance.

A circular issued to all Ministries, Departments and Agencies 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 – HCSF/428/S.1/125 of September 4, 2015 noted that a number of MDAs were yet to comply with Circular Ref. No. HCSF/428/S.1/120 of August 7, 2015 which conveyed President Buhari’s original directive on the payment of all Federal Government revenue into a Treasury Single Account.

“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,” Mr. Kifasi wrote.

Several state governments have similarly directed their agencies and ministries to pay money into the TSA. Kaduna state, which started it, has already reported some gains. Governor Nasir El-Rufai said about N4billion have been paid into the account from an untidy 470 bank accounts.